The document is the first publication from the department to stem from President Biden's executive order on digital assets.
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Bitcoin's price has been gaining in recent days; CNBC reports on its new high of $3,586.23 on Friday; over the weekend it continued to gain, surpassing $4,000; with the new highs the cryptocurrency’s value has gained over 24% in the past week and tripled in value for the year; its split into bitcoin and bitcoin cash has been a lead catalyst for its recent price gains; an additional upgrade called “segregated witness” is also being supported. Source
While bitcoin's price has been reaching new highs its trading volatility has also been high; market momentum has recently been slowed by a number of factors including exchange regulation and new fees in China and the denial of the Winklevoss bitcoin ETF; Business Insider charts the cryptocurrencies progress and reports a double top with a neckline at $1,100 noting that if the price falls below the chart's neckline, technical analysis would indicate it's likely to fall even further, giving it a new expected average of approximately $900; given recent market factors a significant decrease in China trading volume and the technical analysis, bitcoin's price appears to be headed lower. Source
