• Bitcoin experienced a sharp price drop following rumors of Binance’s CEO being wanted by Interpol.
• Dogecoin surged double digits following Elon Musk’s interaction and briefly exceeded $0.1.
• Altcoins remain in the red on a daily scale.
Bitcoin Experiences Volatile Rollercoaster
Bitcoin went through yet another volatile rollercoaster this week following rumors that Binance’s CEO was wanted by Interpol. Prices initially stood at around $28,000, but plummeted to $27,200 after news emerged of Changpeng Zhao being served with a Red Notice by Interpol. However, CZ quickly addressed the speculation as fake news and BTC bounced back to roughly $28,000 as of writing these lines.
Dogecoin Skyrockets 25%
Dogecoin has stolen the show with its massive double-digit surge this week following Elon Musk’s interaction on social media platforms such as Twitter. The cryptocurrency briefly exceeded $0.10 earlier today in another surge propelled by Musk’s tweets and posts about Dogecoin.
Altcoins Remain in Red
Despite Dogecoin’s success, many other altcoins remain in the red on a daily scale as Bitcoin experiences another turbulent week of volatility fueled by news surrounding Binance and its CEO Changpeng Zhao.
Significance of CZ’s Statement
CZ quickly denied the speculations about him being wanted by Interpol, calming down investors and preventing further damage to Bitcoin prices which had already dropped significantly due to initial rumors about his arrest from spreading further across social media platforms like Twitter and Reddit forums. This statement helped propel BTC back up to its previously held levels before the incident occurred.
Conclusion
This week has yet again seen Bitcoin experience wild price fluctuations driven by news surrounding Binance’s CEO Changpeng Zhao while Dogecoin continues its impressive journey rising above $0.1 for brief intervals due to Elon Musk’s interactions with the cryptocurrency on social media platforms like Twitter and Reddit forums.