Someone familiar with the situation stated that the cost was below the $250 million that was spent on acquiring the custody firm Metaco back in May.
The bank had previously expressed its anticipation of the cryptocurrency's value reaching $100,000 by that time.
A technical analysis indicator named Bollinger bandwidth indicates that the tranquil period of Dogecoin may come to an abrupt conclusion, with a significant movement expected in either direction.
Cryptocurrency charts are just a visual tool to display relevant data in a way that helps you better understand the price fluctuations of cryptocurrencies. The way the data is displayed identifies patterns of market movement, identifies trends when they are formed, and is an overall bullish (people buy and price up) or bearish (people) market.
Whether it's the stock market or the crypto market, there will always be downturns; more so with cryptocurrency, as it is a volatile and high-risk investment. The flip side of these significant drops is the incredible gains that certain cryptocurrencies have produced.
Why The Crypto Market Is Down – After ordering the shutdown of Bitcoin mining in Sichuan Province, China has made all crypto currency transactions illegal, causing crypto market prices to plummet. In the previous hours, the cryptocurrency market has dropped 11.43 percent (5.30pm, Friday 21 January 2022).
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