It was a big week for Bitcoin. Fidelity revealed it would allow investors to add it to their retirement 401(k) plans, BlackRock launched a Blockchain ETF, while CAR recognized BTC as legal tender.
The past seven days haven’t been particularly favorable for the cryptocurrency in terms of price action. Bitcoin dropped below $40K and is currently unable to reclaim the important psychological level, while many altcoins followed a similar, if not tougher, path.
This is when the bulls stepped up and staged what seemed to be a recovery, taking the price up towards $41K the following day, but the excitement was short-lived as bears pushed back almost immediately. All this action resulted in BTC trading around $39K for the next couple of days. It attempted to reclaim $40K today, but to no avail, and is currently found below the important level.
From a fundamental standpoint, however, it was a big week for the entire industry. Fidelity announced that it would soon allow investors to add BTC to their retirement 401 plans, while BlackRock – the world’s largest asset manager – launched a Blockchain ETF.This is all you need not to miss any price action in the raging crypto markets.
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