Bitcoin still under pressure – but a cryptocurrency division is booming

Bitcoin and the crypto markets continue their downturn this week: Many coins face huge losses, investors wait or come out – only the “true believers” take the opportunity to buy. A top analyst now also warns: Bitcoin is running out of time. But apart from the price, there are also positive signs – for a certain crypto sector boom.

Bitcoin continues to weaken – but growth is evident elsewhere: Metaverse and blockchain games are booming, NFT is gaining in importance.

Photo: Panthermedia.net/eskymaks

Bitcoin has been fighting for upward momentum for weeks – in vain. For example, in the last seven days, the key currency has tried to push higher several times, but has come no further than $ 43,722. Currently, the # 1 cryptocurrency is trading at $ 41,950 (data from Coinmarketcap.com), down 3.81% for the week. In short: BTC looks set to continue mining. The second most valuable cryptocurrency, Ethereum, also recorded a minus: Investors complained about a fall of more than 6%. The continued weakness has pushed the total crypto market value down to $ 1.99 trillion.

In addition, investors have been withdrawing money from cryptocurrencies for the fifth week in a row. As reported by CoinShares, Europe’s largest digital asset manager, digital asset investment products saw a $ 73 million outflow in the seven days ending January 14.

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