Bitcoin Experiences 20 Percent Boost and Climbs Over $4000
After Bitcoin's week of downfall, it has seen some steady improvement on 26th November. Since the news of the state of Ohio collecting taxes in the form of Bitcoin came out, Bitcoin saw some strong movements.
All the cryptocurrencies saw some improvement; BTC improved over 20 percent. On November 25th, Bitcoin had fallen even below the $4000 mark - the lowest for it in more than a year. Even the total market capitalization had dropped to as low as $119 billion.
On November 25th, Bitcoin had fallen even below the $4000 mark - the lowest for it in more than a year.
The Ohio state treasurer Josh Mandel stated that he "sees bitcoin as a legitimate form of currency" and added that he is willing to "plant a flag" for his state as a symbol of adopting the crypto-based payment system. According to the WSJ, this move initially applies to businesses only at the moment but will soon be available for individuals too.
Crypto investor and Bitcoin evangelist Alister Milne tweeted a poll asking people at what price will the carnage of the Bitcoin end, 36 percent of the votes said that BTC will reach as low as $1800 mark while 28 percent believed BTC will not drop the $3000 mark.
BTC will reach as low as $1800 mark.