Bitcoin drops below 7,000 USD, ignores 3 good news
Even though various positive sentiments of Bitcoin emerged during this week, the price of Bitcoin actually decreased by 15%. As usual, when Bitcoin falls, the Altcoin market falls. On average, Altcoins found in the ten largest crypto networks dropped by around 15 to 20 percent, with Ripple (XRP) leading as the worst performing coin.

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This decline in Bitcoin ignores positive news that has recently circulated in the crypto market. In fact, some crypto investors based on Wall Street such as Mike Novogratz and Bart Smith, have stated that they are still bullish on Bitcoin for the rest of the year. From some supporting news that should be able to strengthen crypto, there are 3 most prominent news, including:
- ICE Announces Crypto Startup Project
The parent company of the New York Stock Exchange (NYSE), Intercontinental Exchange (ICE), has announced a plan to establish a new company called Bakkt. This startup was created to develop a platform that will allow individuals and institutions to buy, sell, and store their crypto assets on the network. According to Kelly Loeffler, Head of ICE's Digital Asset Section, "Bakkt is designed to provide services to individual consumers, businesses, and institutions who want to participate in the digital asset market efficiently, safely and versatile."
- Northern Trust enters the Crypto Custodian Business
Northern Trust Corporation, an investment management company based in Chicago, plans to enter the fast-growing crypto business. The aim is to provide custodial services that focus on security guarantees in digital space, with relatively lower costs. At present, Nurthern Trust has begun to develop methods to secure digital assets in ways that are faster, cheaper, and safer.
- TravelbyBit Receives $ 100,000 from the Australian Government
TravelbyBit, a crypto money payment company that makes it easy for tourists to pay with digital currencies such as Bitcoin, is one of 70 Startups awarded by the Queensland, Australian government.
As explained in a press release, TravelbyBit receives funding from the Ignite Ideas Queensland Advance program. This grant aims to encourage startups and entrepreneurs from all over Queensland who have made extraordinary efforts in their business. In addition, local authorities will help companies to expand operations and employ more staff.
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