Investing.com – The bitcoin rally eased on Wednesday despite Twitter CEO Jack Dorsey’s endorsement of the popular digital currency, claiming it would become the “world’s single currency.”
Bitcoin fell 0.66% at $8,865.1 after hitting a high of $9,177.5 on the bitfinex exchange.
"The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be bitcoin, Dorsey said"
Dorsey has long been an advocate of bitcoin, in November he launched a trial allowing users of Square (NYSE:SQ) to buy and sell bitcoin on its Cash app.
The fall in bitcoin comes as traders appeared to take profits on the digital currency’s rapid bounce from a low of $7,240 seen over the weekend.
Yet, sentiment on cryptos has markedly improved of late as finance ministers and central bankers from the world’s 20 largest economies have not called for a deeper regulatory crackdown on the industry as many had initially feared.
Ripple XRP fell 4.47% to $0.67500 on the poloniex exchange, while Ethereum rose 0.16% to $558.84.
The total cryptocurrency market cap eased to $345– at the time of writing – down from $350 million Tuesday.