Market Wrap: Bitcoin Back Above $30K in Volatile Trading Session
Bitcoin’s near 50% decline from all-time highs surprised analysts as China’s crackdown fueled bearish sentiment.
Adopting Bitcoin as legal tender could help the El Salvador economy grow, says our columnist, but there are risks if the government over-indulges new borrowing.
BTC is up 9% over the past 24 hours.
Preached as a way to support an underbanked population, bitcoin will increase fees and risks for Salvadorans.
"The market looks to have digested most negative news during the recent sell-off from $41,000 to $29,000," one analyst said.
DOT was one of the day's biggest winners.