Blockchain technology and crypto assets started gaining prominence again.After the previous high of US$58,300 odd levels in February 2021, Bitcoin had taken a decent correction of around 25 per cent.The optimism has fueled the recent push to the record high after US President Joe Biden signed a massive US$1.9 trillion economic relief package.No wonder bitcoin hit $61000 today and performed well over the weekend but before the end of the day it is pulling back 2% to trade around $58,070 on Monday. (source:kalkinemedia)
All these economic relief packages have really helped fuel the price of bitcoin, do you think theres much risk of a huge dip once all this dies down?
I don't think the coins will die currencies are in a much better position in the crypto market its price has gone up a lot and it won't go down too much even if it goes to the dump blockchain technology is making transactions much easier which is doing well in the crypto market and the prices of currencies are rising. The government will adopt bitcoin to improve its country's economy.