The rate of the first cryptocurrency returned to the level of $ 40,000. Capitalization of digital gold exceeded $ 750 billion, according to CoinGecko.
BTC / USDT chart of exchange Binance by TradingView.
The total cryptocurrency market capitalization has returned to values above $ 1.8 trillion.
Data: CoinGecko.
At the time of writing, the top 10 cryptocurrencies look like this:
Data: CoinGecko.
Last week, the price of digital gold fell below $ 33,000, and the capitalization of the cryptocurrency market fell to $ 1.4 trillion.
On May 17, the total computing power of the Bitcoin network dropped by 20%. The reason was power outages in China’s Sichuan province due to low rainfall and a shortage of coal.
On May 18, journalist Colin Wu reported that three associations under the People’s Bank of China issued a joint notice prohibiting companies from supporting crypto-related businesses.
On May 20, the US Treasury announced a new proposal by the Joe Biden administration to strengthen tax compliance – to oblige bitcoin exchanges to report transactions worth more than $ 10,000.
On May 21, Vice Premier of the State Council of the People’s Republic of China Liu He, during a speech at a meeting of the Committee on Financial Stability and Development, announced the plans of the Chinese authorities to take measures regarding the mining of cryptocurrencies.
Recall that the famous American investor Bill Miller called the current collapse of bitcoin a trifle. Katie Wood, founder of asset management company ARK Investment Management, who participated in the conversation, said about the ability of bitcoin to rise to $ 500,000.
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