The cryptocurrency market has been experiencing significant volatility lately. Bitcoin (BTC) has dropped below $95,000, recording a decline of over 9% over the past week, and is currently trading at around $93,460.90.
Despite this decline, some prominent investors have shown continued confidence in Bitcoin. For example, Robert Kiyosaki, author of Rich Dad Poor Dad, has expressed his confidence in Bitcoin and urged investors to take advantage of the recent price declines.
In a related development, MicroStrategy has purchased 5,262 Bitcoins at an average price of $106,662 each, reflecting the continued interest of major institutions in investing in cryptocurrencies.
On the other hand, some altcoins have seen significant gains. For example, the price of PENGU has surged by 600% over the past week, sparking interest from investors and traders.
Additionally, Tether, the world’s largest issuer of stablecoins, announced that it expects to generate net profits of over $10 billion by the end of 2024, indicating continued growth in the stablecoin market.
Despite these positive developments, the market remains volatile, with some cryptocurrencies experiencing sharp declines. For example, EOS dropped by 10%:
