It finally happened! The price of one Bitcoin surpassed $100,000 USD. It actually went a bit higher than that, peaking over $103k. But despite a pullback since then, BTC is still holding strong over the 100k mark.
The driving news for this seems to be two-fold -- the announcement of Paul Atkins as the future leader of the U.S. Securities and Exchange Commission, and and the U.S. Federal Reserve Chairman, Jerome Powell, referring to Bitcoin as “just like gold, only it's virtual”.
The referral to Bitcoin as digital gold, a term long maintained by crypto enthusiasts, by a high-ranking government official, and the pro-cryptocurrency stance of , the sentiment for Bitcoin and crypto in general seems to be very bullish.
Now, of course, the United States isn't everything, but as the largest economy on the planet, moves in the U.S. sector can affect crypto prices worldwide.
But aside from this news, we still have Ecuador buying one Bitcoin every single day, MicroStrategy continuing to make large investments into Bitcoin ( they're currently holding over 400k BTC tokens!), and TRON and other tokens hitting all-time highs. South Korea's recent six hour declaration of martial law caused a huge dip in the price of BTC on their local markets, but had no effect on the worldwide value of Bitcoin.
==================
But what's even better than Bitcoin moving upwards? That's right! It's altcoin season. And according to the charts at Blockchain Center, we are there right now!
As for the chart above, Altcoin Season is defined as any time in which 75% of the Top 50 coins performed better than Bitcoin over the last 90 days. But while there aren't too many gaming-related tokens in the top 50, all of the rest of the tokens being actively traded generally see green candles as well.
Even before this news, we had been having a nice little alt-season, with gaming tokens such as SAND (+287% in the last 30 days) and Axie (+108% in last 30 days) turning many gamer's portfolios green.
If Bitcoin remains over the $100,000 mark, it looks like we may continue to see surges in alt-token prices. But, as always, be careful when trading, don't be afraid to take profits, and never risk more than you are willing to lose!
A side effect of gaming tokens increasing in value is that some play to earn mechanics become more lucrative. Which, in turn, could lead to an increase in the playerbase, which generates more game activity, and more income, and we have a nice bit of self-propelled momentum to launch web3 gaming into the next era!
Login with Wallet
Sponsored Ad
Play games now
