Cryptocurrencies could succeed if properly studied, but bitcoin is a highly speculative and inefficient asset, said US Treasury Secretary Janet Yellen.
After dipping below $38,000, bitcoin has bounced off and eyes $40,000 again, while the Elon Musk-initiated interest towards DOGE has put the meme coin in the top 10
Bitcoin came just inches away from a new all-time high but the spotlight was stolen by Cardano (ADA) which became the 4th largest cryptocurrency by market cap.
After Wall Street closed in red yesterday's trading session, bitcoin has recovered some of the losses and currently stands above the coveted $30,000 price tag.
Over $1 trillion market cap for all cryptocurrencies as bitcoin eyed $38K for a new ATH, while some large-cap altcoins have exploded with double-digit gains.
2021 started with a bang for two of the top ten cryptocurrencies as Bitcoin and Polkadot charted fresh all-time highs at $29,550 and $9.5, respectively.
Double-digit price increases for altcoins like Stellar and Ripple hint at a new altseason, while Bitcoin's price remains calm and dominance continues to decrease.
The community speculates on a new altseason as assets like Ethereum, Ripple, and Cardano have been surging in value, while BTC seems stuck beneath $19,000.