The market’s gravitational pull is heavy this week, and cryptocurrencies are feeling the strain as they cycle through their unpredictable rollercoaster patterns.
According to CoinMarketCap, Bitcoin has gained 1.5 percent since Friday morning, after dropping as low as $50,856 in the previous 24 hours. BTC is currently trading in the $53,000 range.
Two recent events seem to have sparked a reaction on the crypto streets. Microsoft has launched its much-anticipated decentralised identifier network on the blockchain, which now includes Bitcoin help.