COVID-19 Omicron impacted the stock market and the cryptocurrency market this week before the price of Bitcoin dropped to $53,500 and Ethereum dropped to $3,933
Token values of other altcoins have also hit all-time highs following the demise of ConstitutionDAO.
Covid-19 Impact on the stock market and cryptocurrency
There have been allegations that COVID-19 Omicron impacted the stock market and the cryptocurrency market this week before the price of Bitcoin dropped to $53,500 and Ethereum dropped to $3,933.
A 9 percent decrease in the space of a few hours was the first since October for Bitcoin.
It is estimated that Ethereum’s loss of roughly 10% of market value and Coin’s loss of 5% of market value occurred on the first day of trading. At the time of this writing, the currency was trading at $ 4123.
Concerns about the $ 1.2 trillion infrastructure bill have pushed the price of Bitcoin down 12.4 percent in the last week.
New regulations for Binance and Coinbase
Cryptocurrency exchanges like Binance and Coinbase are now subject to tax reporting obligations under a new measure passed by Congress. You now need to send the government 1099 forms with the names and addresses of your customers who will be completing transactions. ‘
Under the new regulations, non-custody wallets could be considered brokers, which raises some questions regarding the type of data they acquire from their customers.”
As early as last week, five Democratic senators stated they wouldn’t vote for the White House’s preferred nominee because skeptics of the money’s currency had played a role that made them the executive director of the bank’s Country, a position that made them eligible to vote.
Her attitude on cryptocurrency has nothing to do with opposition to her candidacy.
Other altcoins managed to break out of their fall this weekend, while global markets were down and market leaders were also down, despite this. However, there are some crypto assets that have managed to grow despite the volatility.
After a group of crypto aficionados banded together to gather funds to buy a syndicated copy of the original U.S. Constitution at auction at Sotheby’s, they came up with the idea for ConstitutionDAO. Before losing the auction to Citadel CEO Ken Griffin, they had raised around $ 45 million.