Where the BTC rate took a considerable rise in 2021 and even an All Time High of no less than $ 63,729.50 US dollar in the second week of April. That seems like a temporary high for now, because not much later the news from the United States came which not only shook the BTC price to its foundations, but which caused deep red figures across the entire crypto industry. After a fierce weekend, in which almost every top 20 coin and many altcoins showed a large loss, the market is slowly scrambling towards a recovery.
It is the second hit that the BTC price has to endure in a short time. Last week, the BTC price was corrected by a hefty 4 percent when Turkey announced that it would ban cryptocurrency’s. Logically, this was not the best news for the BTC exchange rate, which has seen more and more (young) investors enter the market from Turkey in recent months. Price prediction Cryptocurrency Italy is popular.
Yet the real blow fell later, when it was announced by the US government that it was investigating to what extent large investment funds would use crypto to launder money or evade taxes. This news immediately resulted in a substantial price correction on the BTC rate of about 14% over the weekend.
Yet it says a lot about the stubbornness and confidence in the BTC price that the day after the apparent free fall the BTC price is slowly recovering and is already showing the first signs of recovery and profit. And it is not only the BTC price that is rising after the first significant decline and is already recording a recovery of 5%. Ethereum and altcoins are also making a big splash. Like Polkadot!
What is the Polkadot forecast for Q2 2021?
Just like the BTC rate, Polkadot also had to endure a lot last week under the latest crypto news. But also, just like the BTC course, the Polkadot course managed to establish itself neatly and we still expect a lot of good things from this project.
If you don’t know Polkadot yet, time to get to know them quickly! Polkadot conquered many hearts at the end of 2020 when the project became more and more in the news, mainly due to a solid Polkadot course at the time. Polkadot’s prediction was therefore that it could compete with the Ethereum project. Portugal cryptocurrency predictions is popular.
Polkadot has become known for their interoperability protocol. With this protocol, they make it possible for different (types of) blockchain to communicate with each other and therefore also carry out transactions or exchange data. So with Polkadot’s help it is possible to exchange data between a Bitcoin blockchain and an Ethereum blockchain, where this was previously unimaginable.
The Polkadot forecast is therefore very favorable. There is a lot of potential in the project and the project is the solution to many current issues surrounding the collaboration between various private and commercial blockchains.
Would you like to know more about Polkadot? We have written an extensive article that not only discusses the part around interoperability within Polkadot, but also the sharding principle and everything else that is involved in the Polkadot protocol. Became curious? Then be sure to read our extensive article about Polkadot.
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