The gravity pull on the markets is strong this week, with cryptocurrencies feeling the pressure as they go through their volatile rollercoaster trends in quick succession.
Since Friday morning Bitcoin has jumped back into the green light since up by 1.5% after falling as low as $50,856 in the last 24 hours, according to CoinMarketCap. Currently, BTC sits comfortably in the $53,000s.
The crypto streets appear to be reacting to two bits of developments. Microsoft has officially deployed its highly anticipated decentralized identifier network on blockchain, which also supports Bitcoin.
This project began a little over 4 years ago, and has been designed to assist firms and individuals who hate relying on a third party.
Another bit of news that helped Bitcoin jump was New Zealand government’s announcement that it had invested 5% of its $350 million pension fund in BTC.