What happened in the digital currency market last week? From the fall of Bitcoin to the leap of Tether

The digital currency market witnessed significant events in the past week, following which will help investors and traders have a clearer picture of the future. The fall of Bitcoin after the approval of cash ETFs in America, Tether’s jump in the domestic markets, as well as the rare acceptance of users of a controversial game called Notcoin, are among the most important events of the past week, each of which we will examine in this article. .

The expected fall of Bitcoin to $40,000

Bitcoin Cash ETFs were finally approved by the US Securities and Exchange Commission on January 10th (December 20th) and began operating on January 11th (December 21st). As expected, according to the well-known rule “buy on the rumor and sell on the news”, the price rally after the announcement of this news was very short-lived.

The price of Bitcoin first rose to $48,969 in the middle of the day on January 11, but since then, the market trend has been mostly bearish and the digital currency has lost more than 15% of its value. Bitcoin even experienced a low of $40,280 last night, which is the bottom of the last 39 days.

Currently, some analysts predict a short-term target for Bitcoin below $40,000. However, the approach of the Bitcoin halving event in April (April) has caused the long-term outlook of most analysts to remain positive about this digital currency.

Also read: Seven experts predict the price of Bitcoin for the next 6 months

Tether crossing 55 thousand tomans

The dollar had an upward trend last week, obviously due to the increase in tension in the region and the increase in political risks. Some economic analysts consider the presence of year-end demand in the market as one of the reasons for the growth of the dollar these days.

The statistics of the Tether price page on the website and application of Aruzdigital show that the price of Tether in the domestic markets has reached the highest level of 55,215 Tomans on Friday. Of course, since Friday morning, the price has started to correct and has now dropped to the level of $53,700.

Breaking the record of NatCoin in attracting users

Another bright event of the last week, which is not directly related to the trading market, is the peak of users’ acceptance of the NatCoin Telegram game. Many people are now comparing NatCoin’s growth rate with ChatGPT, OpenAI’s revolutionary artificial intelligence bot, saying that this controversial game has reached one million users in less time than ChatGPT.

Although NatCoin does not have a clear future and still has many unanswered questions in the minds of users, it currently has more than 17 million players. Although the growth rate of its users has slowed down in recent days, the increase in the number of players continues.

Also Read: Does NatCoin Give Free Cryptocurrency?