What's Happening in the Cryptocurrency Market? (June 7)

Here are the cryptocurrency news of June 7, the most up-to-date developments, here are the most appreciating and depreciating cryptocurrencies...

Interest in cryptocurrencies has increased significantly during the coronavirus outbreak. However, investors began to closely monitor the movements of important cryptocurrencies such as Bitcoin, Ethereum and Ripple. The most curious cryptocurrencies by investors; How did Bitcoin, Ethereum, Ripple start the day? The cryptocurrency market is very active with the recent news flow. The statements of US President Joe Biden regarding the changes in the tax law, the CBRT's ban on cryptocurrencies from payments, and the addition of crypto asset service providers to the liabilities section by publishing a new regulation with the presidential decision had a great impact on the cryptocurrency market. On the other hand, the negatively affected cryptocurrency market recovered after US Treasury Secretary Janet Yellen said that interest rates may need to increase moderately to prevent the US economy from overheating due to high government spending. However, Bitcoin, Ethereum and other cryptocurrencies were negatively affected by the decline in the US markets. Despite all this, the main blow came from Tesla founder Elon Musk. The decline started when Musk announced that the company would no longer accept Bitcoin as a means of payment due to its carbon footprint. Cryptocurrencies were adversely affected by China's ban on cryptocurrencies and the Bank of Japan's Governor criticizing BTC. The cryptocurrency market, which made a good start to June, crashed again with the latest posts of Elon Musk. BTC started to recover yesterday after the President of El Salvador announced that he will make Bitcoin the national currency.

How Much Is A Bitcoin?

Bitcoin gained 3% after MicroStrategy CEO Micheal Saylor announced that they would purchase $400 million worth of BTC. However, BTC fell again and lost 1.42 percent in 24 hours. On the one hand, in the market where there are positive and negative news, Bitcoin is trading at 35 thousand 501 dollars.

What Is The Price of Ethereum?

This morning, in Ethereum stopped at the $2,000 resistance level. There is little hope for a false bullish breakout, although bears are likely to ramp up the attack and break past week's low. Ethereum has been close to flat today and is currently trading in one green zone and one red zone. Ethereum, which is traded between $2,689.99 - $2,842.88 levels during the day, has gained 0.28% in value in the last 24 hours and is at the level of $2,697.10 at the time of writing.

What Is The Price of Ripple?

Affected by the drop in Bitcoin, XRP moved between $0.92761 - $0.97376 during the day. On the other hand, the loss in XRP was 0.52 percent and is traded at $ 0.93412 at the time of writing.

How Much Was BTT?

Although the market started the new week in the green zone, it was painted red in the evening hours. BitTorrent followed the market, mostly trading in the red zone. BTT, which has risen by 1.78 percent in the past 24 hours, is currently trading at $ 0.003925.

What Is The Price of CHZ?

CHZ, which lost 4.08 percent in yesterday's transactions due to the decline in Bitcoin, continued to decline in today's transactions. CHZ is trading at $0.264604 at the time of writing.

Recent news

Bitcoin Criticism From Former President Donald Trump Former US President Donald Trump had a phone call with Stuart Varney from Fox Business on Monday. Trump stated that Bitcoin looks like a scam while competing with US dollar. Stating that now BTC seems to be just a hoax, Donald Trump stated that the hegemony status of the dollar should be permanent and continued his words as follows: “Bitcoin just looks like a scam. I was surprised – you know, it was $6,000 or even less. I don't like BTC because it is another currency that competes with the dollar, in fact, it is a currency that competes with the US dollar. I want the US dollar to be the currency of the world. That's what I've always said." MicroStrategy Will Buy Bitcoin MicroStrategy, one of the leading Bitcoin investors in the cryptocurrency market, announced that it will buy Bitcoin. In the statement made by the company, it stated that it will sell 40 million dollars of collateralized bonds for the new purchase of Bitcoin. In MicroStrategy's statement, the following was stated: “The promissory notes will be fully and unconditionally guaranteed, jointly and severally, on the basis of senior collateral, by MicroStrategy Services Corporation, a wholly owned subsidiary of MicroStrategy, and certain subsidiaries of MicroStrategy, which may be created or purchased after the closing of the offer.”