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Market Analysis – Shiba Inu Is Down But Bitcoin Is Trading Over $61.5k.

The Shiba Inu (SHIB) is down today, while Bitcoin is up following President Biden’s remarks on the currency’s potential dangers, such as ransomware and other cyber risks.

Market Analysis - Shiba Inu Is Down But Bitcoin Is Trading Over $61.5k.

Shiba Inu Price Chart – Source: CoinMarketCap

Cyber-attacks may affect every American, every organization, regardless of size, and every neighborhood, Joe Biden said in a statement.

As a result, my administration is mobilizing a national effort to tackle cyber threats.

Market Analysis - Shiba Inu Is Down But Bitcoin Is Trading Over $61.5k.

Bitcoin Price Chart – Source: CoinMarketCap

The White House also suggested that the US may call a conference of 30 nations, including NATO and G7 allies, to talk about cybercrime measures.

According to the statement, the US will bring together 30 countries this month to intensify our collaboration in combating cybercrime, improving law enforcement coordination, preventing illegal usage of cryptocurrencies, and engaging diplomatically on these matters.

Furthermore, Federal Reserve Chair Jerome Powell indicated that the US government has no plans to outlaw cryptocurrencies, leading prices to soar by 10%.

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