Bitcoin is keeping up with its surprising moves. As of today, it lost almost $120 in USD price and $2 billion in market cap. All that, in below two hours.
Bitcoin is also in news and not for good reasons. A report was published by nature.com that titles ‘Bitcoin emissions alone could push global warming above 2°C’.
The summary reads:
‘Bitcoin is a power-hungry cryptocurrency that is increasingly used as an investment and payment system. Here we show that projected Bitcoin usage, should it follow the rate of adoption of other broadly adopted technologies, could alone produce enough CO2 emissions to push warming above 2 °C within less than three decades.’ — Nature Climate Change Report
Critics are bashing BTC on this but the dip in the price isn’t the report’s doing. Some other factors are at play here. Factors, that are invisible yet impact the market. Could be psychological or bots’ work. No one knows.
Similar to BTC, all of the currencies except Tether are in a downfall, losing money as the time goes.
Looks like the low volatility period of Bitcoin is over. The sharp dives are coming more and more often now. Brace for a run anytime now.