Taking a look at the two indicators posted below, one can see that the market is still experiencing a silent correction. Previously, the SEC has mentioned that Bitcoin and Ethereum, the top two cryptocurrencies by market cap, were not securities. Currently, cryptocurrencies akin to Bitcoin serve as intermediate currencies to streamline money transfers across borders. India was reported to be formulating a framework for cryptocurrencies in December. Today, WordPress, an especially fashionable blog internet hosting site and framework and the 22nd most accessed site in the world, has announced that they will be accepting Bitcoin as a way of fee. The launch of buying and selling platforms triggered the primary bubble in bitcoin’s value, when the trade fee ballooned to $32 earlier than collapsing to around $2 in 2011. The shortlived run in the worth put bitcoin on the map, based on Max Boonen, the founder of B2C2, one of the biggest trading companies in crypto right this moment. Nakamoto then mined the primary bitcoin in January 2009, marking the date the blockchain network and digital coin went reside. But, towards this shaky macroeconomic backdrop, interest in bitcoin was beginning to select up.