The trajectory of the Bitcoin (BTC) kept crypto traders, investors, and enthusiasts guessing as a July 15 relief rally registered a high of $21,140. Bitcoin continues to trade in the $20,000-22,000 range. The US CPI data that pegged its quarterly inflation at 9.1%, the highest in 40 years, seems to not have affected the markets as yet. BTC and other crypto assets are following the global stock indices which have been in the green in the second half of the week.
On a weekly basis, however, BTC is down by 4.7% and by more than 50% compared to a year back. Celsius Network’s bankruptcy plea dampened the spirits at the start of the week though there have been some positive developments along the way. The story of the week could well be that South Africa is all set to regulate crypto as a financial asset. We discuss this and other stories of the week below.
South Africa’s crypto cue for India
Did you Know?
In the wake of the crypto market crash, the prices of hardware used to support the...
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