Cryptocurrency

The cryptocurrency market continued its explosive growth from the previous week, with smaller cryptocurrencies seeing significant gains of up to tens of percent.

Analysis and forecasting of the trends of important cryptocurrencies are of great interest to many investors. The following analyses can be used for reference purposes in both the short and long term.

The cryptocurrency market plummeted on January 19, with Bitcoin dropping to as low as $40,000.

In the past week, assets such as cryptocurrencies, gold, and stocks have all seen an increase. By the morning of December 9th, Bitcoin fluctuated around $44,200, a 14% increase compared to the previous weekend. The VN-Index also saw a total increase of 22.28 points (2.02%), reaching 1,124.44 points. The price of gold has risen to the range of 72-74 million Vietnamese dong per tael.

The cryptocurrency market experienced a sharp decline on 11/12 as some speculators took profit after a strong rally. Bitcoin, in particular, quickly dropped below the $41,000 mark.

The recent decline of Bitcoin has led to significant losses for most short-term speculators. The downward trend of Bitcoin in recent months has become a test of investors' determination.

User withdrawals on Binance have exceeded 1 billion USD in the past 24 hours, excluding Bitcoin-related transactions, according to data from blockchain research firm Nansen.

The Ministry of Finance has proposed the establishment of an interdepartmental task force to review, research, and develop a legal framework for virtual assets and cryptocurrencies.

After a dismal 2022 with over 1.5 trillion USD evaporating, the cryptocurrency market has come back incredibly strong this year.

Ferrari, the luxury car manufacturer, has made the decision to accept cryptocurrency payments in order to meet market expectations and cater to their clientele who have invested heavily in digital currency.