Uprising of Bitcoin on friday and El Salvador officially declaring bitcoin legal tender

Bitcoin's price was around $37,000 on Friday and has risen over $5,000 since Tuesday.

The broader cryptocurrency market reflected btc's recent moves, but the recovery of Ether, Dogecoin and Cardano (ada) appears to have stalled. Cryptocurrency analysts have described this as a “success or disruption” moment for the market, and the next few days are potentially important in determining its long-term trajectory.

The rebound was sparked by positive news that El Salvador has officially declared Bitcoin legalization and has included more interest from major banks and hedge funds.

There has also been some promising news in terms of the environmental impact of Bitcoin as China cracks down on mining in coal-rich regions and El Salvador reveals plans to mine cryptocurrencies using 100% renewable geothermal energy from volcanoes.

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