Bitcoin Is Lying In Wait

Headline: Bitcoin Is Lying In Wait

Description: Although the price of bitcoin remains relatively stable, there is reason to believe a major breakout is imminent.

SEO: Bitcoin Is Lying In Wait

By: Dion Guillaume

Last Week In Bitcoin is a series discussing the events of the previous week that occurred in the Bitcoin industry, covering all the important news and analysis.

Summary of the Week

This week was relatively calm. We briefly saw bitcoin surpass $50,000 a few times, however it has struggled to remain above this important threshold over the last few days. This could very well be the calm before the storm, as next week El Salvador will officially adopt bitcoin as legal tender. Not to mention that we’re just two months away from the Taproot soft fork activating. Bitcoin may very well be preparing for a decent run.

There were some intriguing bits of news that hit the stands — Twitter is working on integrating bitcoin payments, El Salvador is finalizing its bitcoin plans, mining takes the spotlight and the SEC’s chairman continues to sing bitcoin’s praises. Here’s this week in bitcoin:

Bullish News

On Monday, the bitcoin network set a new record with over $8 billion in weekly transaction volume recorded, a remarkable milestone as bitcoin approaches the $1 trillion market cap marker again.

Source link Bitcoin Magazine

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