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    In this article BTC.CM= ETH.CM= Follow your favorite stocksCREATE FREE ACCOUNTThe crypto market has been battered this year, with more than $2 trillion wiped off its value since its peak in Nov. 2021. Cryptocurrencies have been under pressure after the collapse of major exchange FTX.Jonathan Raa | Nurphoto | Getty ImagesBitcoin on Tuesday hit a two-year low as the cryptocurrency market takes a bruising following the collapse of major exchange FTX. Bitcoin hit $15,480, its lowest level since Nov. 11, 2020, according to CoinDesk data. The digital coin has since bounced from that low and was trading at around $15,728.33 at 4:08 a.m. ET. The entire cryptocurrency market has lost more than $1.4 trillion in value this year as the industry has been plagued with problems from failed projects to a liquidity crunch, exacerbated by the fall of FTX, once one of the world's largest exchanges. Crypto's latest issues began after Changpeng Zhao, the CEO of Binance, said his exchange would sell its FTT tokens. FTT is the native digital currency of FTX's crypto exchange. Binance's move sparked the...
    In this article ETH.CM= BTC.CM= Follow your favorite stocksCREATE FREE ACCOUNTThe collapse of FTX has sent shockwaves through the cryptocurrency industry. The price of bitcoin and other major digital coins have fallen sharply as problems at FTX emerged.Jakub Porzycki | Nurphoto | Getty ImagesBitcoin hovered around a one-week low on Monday and other major cryptocurrencies fell sharply, as the impact from the dramatic collapse of FTX continues to ripple through the market. Bitcoin was down 3.6% to trade around $15,990.89 at 3:40 a.m. ET, according to CoinDesk data. Ether fell 7% to $1,120.61. The cryptocurrency market has come under pressure over the last two weeks as problems at major exchange FTX came to light. From Nov. 6 — the day Binance CEO Changpeng Zhao said his exchange would liquidate its FTT tokens — the crypto market has lost more than $260 billion of value. FTT is the native token of FTX's crypto exchange and Zhao's decision to sell FTT sparked the collapse of FTX, which has since filed for bankruptcy. Binance was a rival to FTX. FTX's new CEO...
    In this article ETH.CM= BTC.BS=-USSFollow your favorite stocksCREATE FREE ACCOUNTBitcoin continues to trade in a tight range of $18,000 to $25,000 mark, keeping investors on edge about where the price is going next. The crytpo market has been plagued with a number of issues from collapsed projects to bankruptcies.Nurphoto | Getty ImagesBitcoin topped $20,000 on Tuesday, hitting its highest level in the more than a week, but is still struggling to break out of its tight trading range. The world's largest cryptocurrency was more than 7% higher at $20,265.95 at around 3:30 a.m. ET, according to data from CoinDesk.related investing newsAnalysts are falling back in love with Nvidia, with Citi giving it almost 100% upsideWeizhen Tan7 hours agoYear-end rally hopes are starting to get dashed. What history tells us about what comes nextTanaya Macheel14 hours agoWith the dollar surging, these ETFs could help bolster your portfolioJesse Pound15 hours agoBitcoin's rally lifted the broader cryptocurrency market. Ether was up around 7% at $1,389.75. Still, bitcoin has struggled for direction, trading between $18,000 and $25,000 since mid-June after a crash saw...
    In this article ETH.CM= BTC.CM= Bitcoin continues to trade in a tight range of $18,000 to $24,000 mark, keeping investors on edge about where the price is going next. The crytpo market has been plagued with a number of issues from collapsed projects to bankruptcies.Nurphoto | Getty ImagesBitcoin traded below $19,000 on Wednesday morning, hitting its lowest level since June following a drop in stock markets globally and the continued strength of the U.S. dollar. The value of the entire cryptocurrency market also fell below $1 trillion as digital coins across the board saw a sell-off. Bitcoin was trading around $18,812.36 at 03:50 a.m. ET, down more than 5%, according to CoinDesk. Ether, which has far outpaced bitcoin's gains in recent months, was down more than 8% at $1,518.59. Central banks around the world are battling rampant inflation with tightening monetary policy. The U.S. Federal Reserve has undertaken a series of interest rate hikes totaling 2.25 percentage points. Markets are expecting further interest rate rises. Policy tightening by the Fed has strengthened the U.S. dollar which has weighed on risk...
    In this article ETH.CM= BTC.CM= A cryptocurrency price crash and the onset of a new so-called "crypto winter" has left many companies in the industry facing a liquidity crisis.Artur Widak | Nurphoto | Getty ImagesBitcoin broke the $23,000 threshold for the first time in more than a month, as hopes of a rate hike less aggressive than feared from the Federal Reserve triggered a relief rally in cryptocurrencies. The the world's biggest cryptocurrency surged as high as $23,800 Wednesday, up 8% in 24 hours and trading at levels not seen since mid-June. It was last trading at a price of $23,330.80, according to Coin Metrics data. Traders took comfort from the prospect of softer policy action from the Fed at its next rate-setting meeting. The effects of tighter monetary policy from the U.S. central bank has weighed heavily on risky assets like stocks and crypto. "This isn't necessarily the end of the crypto bear market, but a relief rally for Bitcoin is long overdue," said Antoni Trenchev, CEO of crypto lender Nexo. "Bitcoin is beginning to find its feet...
    In this article MATIC.CM= ETH.CM= BTC.CM= Bitcoin and cryptocurrency prices have been under pressure in 2022 with traders feeling the fallout from a number of major collapses in the industry.Selim Korkutata | Anadolu Agency | Getty ImagesBitcoin bounced above $22,000 on Monday, hitting its highest level in more than a month as the cryptocurrency market held out hope that the contagion and shakeout over the past few weeks is nearing its end. The world's largest cryptocurrency was trading around $22,228.70 at 6:30 a.m. ET, according to CoinDesk data, up around 4%. Bitcoin traded as high as $22,493.61 in the past 24 hours, the highest since June 16. Other cryptocurrencies also bounced with ether up more than 10% versus the price 24 hours ago and Polygon's MATIC token up 21%. The bullish sentiment was helped by a rally in stock markets in Europe and Asia. U.S. stock futures were also higher. Cryptocurrencies, in particularly bitcoin, has been closely correlated with equity market trade. Often, a rise in stocks will also lift sentiment in the crypto market. But investors are also...
    Disgraced former WeWork CEO Adam Neumann's new project has been halted by the recent cryptocurrency crash.  FlowCarbon was co-founded by Neumann last year - just two years after he was ousted from the shared office space company due to it falling into bankruptcy under his leadership. The firm is part of a small group of companies issuing cryptocurrencies backed by carbon credits - a permit purchased by businesses and developers that allows them to offset a metric ton of carbon dioxide or other greenhouse gases. Previously, project developers sold the credits to individuals or companies that seek to offset their environmental footprint, oftentimes with the goal of reaching net-zero emissions.  FlowCarbon, however, streamlines the process, with a network - or blockchain - that allows individuals to purchase crypto tokens in lieu of the permits, which are finite in number and typically purchased through brokers. Users will then have the option to 'burn the token' - or permanently remove it from circulation - as a way to offset emissions, instead of them being purchased for a project that would actually expel carbon. On Sunday, the...
    In this article ETH.CM= BTC.CM= Bitcoin and other cryptocurrencies fell sharply as investors dump risk assets. A crypto lending company called Celsius is pausing withdrawals for its customers, sparking fears of contagion into the broader market.Nurphoto | Nurphoto | Getty ImagesBitcoin fell below $20,000 on Wednesday as a number of factors from macroeconomic worries to issues with cryptocurrency companies continue to weigh on the market. The world's largest cryptocurrency was trading down more than 4% at around $20,056.48 at 07:36 a.m. ET, according to CoinDesk data. Earlier on Wednesday, bitcoin fell as low as $19,841. Other digital coins including ether were also sharply lower. Bitcoin has been trading within a tight range in the last two weeks unable to make a major move much above $22,000. "A narrative that could well play out for the rest of the year and beyond is guiding bitcoin lower today, one of looming recession and mushrooming levels of inflation," analysts at cryptocurrency exchange Bitfinex said in a note on Wednesday. Inflation continues to remain high while central banks are also aiming for further...
    Bitcoin plunged below $20,000 today to its lowest price in 18 months, as the slide in value shows no sign of stopping. The biggest cryptocurrency was down 7.1% to $18,993 at 9.06am this morning, having earlier touched $18,732, its shortest price since December 2020. It has lost around 28% since Friday, more than half of its value this year, and is down 70% from a record high $69,000 in November.  Overall Bitcoin is down about 59% in 2022, while rival cryptocurrency Ethereum-backed ether is down 73%. RELATED ARTICLES Previous 1 Next Wall Street finishes its worst week since the 2020 pandemic... CEO of crypto firm Kraken offers woke workers four months... Share this article Share It comes after Hong-Kong based crypto-lender Babel Finance yesterday suspended withdrawals amid a wide-scale downfall in the market, saying in a statement it is 'facing unusual liquidity'. The digital currency sector has been pummelled this week after cryptocurrency lending company Celsius froze withdrawals and transfers between accounts, citing 'extreme' conditions. The sector has also suffered...
    In this article BTC.CB= COIN The logo for Coinbase Global Inc, the biggest U.S. cryptocurrency exchange, is displayed on the Nasdaq MarketSite jumbotron and others at Times Square in New York, U.S., April 14, 2021.Shannon Stapleton | ReutersCoinbase shares are down more than 19% in pre-market trading Monday. Coinbase makes a commission when people buy and sell cryptocurrencies. Monday's move appears to be tied to the tumbling crypto market. Bitcoin is now trading at the lowest levels since December 2020, below $24,000, according to CoinDesk data. More than $200 billion has been wiped out of the cryptocurrency market since the start of the weekend. Crypto lender Celsius may be partly to blame for the price decline in digital currency. The company said Monday it's pausing all withdrawals, swaps and transfers between accounts due to "extreme market conditions." Binance also temporarily paused bitcoin withdrawals on Monday but said the choice was because of a "stuck transaction causing a backlog" Coinbase's stock is down 76% year-to-date, after first-quarter earnings in May showed revenue fell 27% year-over-year as usage declined. "We believe...
    The logo of the Bitcoin cryptocurrency in a window of an office building in the Mitte district of Berlin, Germany, on Tuesday, Feb. 15, 2022.Krisztian Bocsi | Bloomberg | Getty Images The price of bitcoin bounced back above $30,000 after dropping to 2022 lows as investors study the fallout of Terra's UST stablecoin. Bitcoin last traded 6.3% higher at $30,348.40, according to Coin Metrics. On Thursday it fell as low as $25,401.29, its weakest point since December 2020. The benchmark cryptocurrency is on pace for its seventh down week in a row. Meanwhile, ether lost 7.6% and was trading at $2,083.54. Bitcoin and ether are both on pace for their worst weeks since May 2021, almost a year ago, down 15% and 22%, respectively. Crypto markets have struggled all year amid the broader market turmoil. Bitcoin, which continues to lead cryptocurrency prices, remains highly correlated with tech stocks, and Nasdaq futures were higher Friday morning. This week has been especially dire for cryptocurrency investors as they watched Terra's UST stablecoin and luna token fall apart, which at least temporarily hit...
    In this article LUNA.CM= UST.CM= BTC.BS=-USS VIDEO3:3403:34What you need to know about the controversial stablecoin worrying crypto marketsSquawk Box EuropeBitcoin staged a rebound on Friday, jumping above $30,000 despite the ongoing woes of stablecoin TerraUSD which has caused panic in the crypto market. The world's largest cryptocurrency bitcoin was trading at around $30,262.85 at 4 a.m. ET on Friday, according to CoinGecko data, up 8% in the last 24 hours after it dropped to levels not seen since late 2020 earlier this week. However, the digital currency is still down 16% in the last seven days. The recent crypto meltdown, which has seen billions of dollars wiped off the market, has in large part been sparked by the crash of a controversial stablecoin known as TerraUSD or UST, which is supposed to be pegged one-to-one with the U.S. dollar. UST has however lost its peg and on Friday was trading at around 14 cents, according to data from CoinGecko. Luna, a token closely associated with UST, is now worth $0 as a result. UST and luna are linked. UST...
    In this article XRP.CM= ETH.CM= BTC.CB= Bitcoin fell sharply after a sell-off of major U.S. stock indices. Bitcoin has been correlated closely to the price movement of the Nasdaq index.Luke MacGregor  | Bloomberg | Getty ImagesBitcoin cratered on Thursday as a major stock sell-off in the U.S. spooked the cryptocurrency market. Bitcoin was down more than 8% at $36,251.50 on Friday around 4:03 a.m. ET, according to CoinDesk data. On Thursday, bitcoin dipped below $36,000 before paring some of those losses. Other cryptocurrencies including ether and XRP were also down sharply. Around $129 billion of value was wiped off the cryptocurrency market in a 24-hour period as of 4:03 a.m. ET, according to data from CoinMarketCap. The selling of cryptocurrency was sparked by a painful day on Wall Street where the Dow Jones Industrial Average lost more than 1,000 points on Thursday, marking its worst single-day drop since 2020. The tech-heavy Nasdaq fell nearly 5%. Bitcoin has remained correlated to equity markets with the cryptocurrency falling or rising in tandem with stocks. "Overall, global markets have been spooked by...
    A Bitcoin logo inside a BitBase cryptocurrency exchange in Madrid, Spain, on Thursday, March 17, 2022.Angel Navarrete | Bloomberg | Getty Images The price of bitcoin was lower on Monday as investors assessed the risks from rising rates and the potential for more tightening by the Federal Reserve. Bitcoin fell about 5% to $41,091.60, according to Coin Metrics. Earlier in the morning, the cryptocurrency hit a low of $40,935.50, its lowest level since March 21. The decline came after the 10-year Treasury yield hit a three-year high of 2.77% overnight. Riskier assets tend to fall when yields rise. On Monday morning, futures tied to the Nasdaq 100 were down by more than 1%. Though bitcoin should trade independently of the stock market, a correlation between the two has been particularly high in recent months. Tokens across the crypto market were lower as well. Ether declined by 7.2% along with other platform networks. Solana, Algorand and Cardano's tokens were all down by more than 9%. The DeFi, or decentralized finance, sector fell too. Aave, Compound and SushiSwap lost more than 9%...
    Late in 2013, with bitcoin prices in the middle of a steep dip, a post appeared in an online forum featuring a misspelling that would become legendary: “I AM HODLING.” The mangling of the word “hold” captured a kind of irreverent blind faith of some early cryptocurrency adopters, and it has since become a part of the lexicon of digital assets. But “HODL” is more than just a meme. According to financial planners and analysts, it’s also a rational response to a market whose ups and downs are exceedingly difficult to predict. “The holding part of it is important because it’s a nascent industry, and as a retail investor you are not well-equipped to be able to capture the volatility and to trade the assets,” says Theresa Morrison, a certified financial planner in Tucson, Arizona. Indeed, the original HODLer in 2013 had no illusions about their ability to play the market. But the post conveyed a confidence that time would improve bitcoin’s fortunes. “WHY AM I HOLDING? I’LL TELL YOU WHY,” their message read (this...
    THE US could target cryptocurrency assets to pressure Vladimir Putin's troops to withdraw from Ukraine, a financial expert reveals. Reports say that Washington could target Moscow's crypto market as officials consider further punitive measures following the invasion. 3Officials in Washington could target Russian cryptocurrency assets in a bid to get Putin's forces to withdraw from UkraineCredit: Reuters 3Russia has been hit with a raft of sanctions after launching its invasion of Ukraine last weekCredit: EPA Russian accounts that have been shut out of the world’s financial system seem to be moving their funds into crypto or overseas. Daniel Strachman, who has more than 20 years of experience on Wall Street, told The Sun: “It wouldn’t surprise me if Washington elites targeted crypto assets that they feel have an influence on Putin and get him to stop attacking Ukraine.” He warned that crypto could be used to evade punitive measures, adding “it’s simple to move money around when masked with a virtual private network". Russia’s crypto market hasn’t yet been targeted as the White House explores new strategies. Daleep Singh, the...
    In this article XRP.CM= ETH.CM= BTC.CM= The value of bitcoin exceeded the threshold of $66,895 in October for the first time in history.Chesnot | Getty ImagesCryptocurrencies jumped on Friday following a steep sell-off a day earlier that saw around $150 billion wiped off the market after Russia invaded Ukraine. Bitcoin was trading about 7.47% higher at $38,300 at 4:22 a.m. ET, according to Coindesk data. The world's largest cryptocurrency has risen above $39,000 in the last 24 hours. Bitcoin had fallen as low as $34,338.57 on Thursday. Other digital coins including ether and XRP saw double-digit percentage gains. Thursday's sell-off was sparked by Russia's invasion of Ukraine that also saw global stocks fall sharply. Bitcoin's price move has more recently correlated closely with other risk assets like stocks, as more institutional investors get involved and short-term investors who trade bitcoin like other risk equities have have entered the market. A stunning intraday reversal in U.S. stocks on Thursday led major indices to close higher. That positive price movement has filtered through to cryptocurrencies. But the big cryptocurrency rebound could...
    Vertigo3d | iStock | Getty Images The price of bitcoin fell to its lowest point since September on Monday as rising rates continue leading investors to shed positions in risky, growth-oriented assets. Bitcoin last fell more than 6% to touch a low of $39,771.91, according to Coin Metrics. Ether, the second largest cryptocurrency by market cap, fell more than 7% to below the $3,000 mark. The cryptocurrency tumbled as low as $2,940, Coin Metrics found. Declines across the cryptocurrency market follow a week of rough trading for equities, particularly momentum stocks in tech. As the 10-year U.S. Treasury yield spiked to start 2022, investors have been rotating into more cyclical and value names. On Monday, the 10-year climbed as high as 1.8%, after ending 2021 at 1.5%. "We've seen bitcoin behave like a risk asset on numerous occasions over the past few months," said Noelle Acheson, head of market insights at Genesis. "When the market gets jittery, bitcoin tumbles. We've seen various indications that market sentiment is somewhat spooked by the spike in the 10-year – that's not good for...
    Global demand for cryptocurrencies has plunged as the possible collapse of China's second biggest apartment developer, Evergrande, frightens investors. Bitcoin, the benchmark blockchain denomination, plummeted overnight from $AUD64,700 to four-month low levels below $56,000.  A glut of 'ghost city' apartment towers in China is stirring fears about major economic problems should the conglomerate collapse.  Australia's share market and the big miners aren't the only ones being affected by the fall with the global cryptocurrency market collectively losing $344billion since Monday night, with Ethereum, Tether and Cardano also affected. Scroll down for video  Global demand for cryptocurrencies has plunged as the possible collapse of China's second biggest apartment developer scares investors (pictured is a stock image of a Bitcoin) BTC Markets chief executive Caroline Bowler said like traditional share market investors, cryptocurrency buyers were also worried about a slowdown in global economic growth. 'What's happening in China and that sense of contagion is perhaps impacting on to Bitcoin prices,' she told Daily Mail Australia. 'In turn, when Bitcoin goes south, the rest of the cryptocurrencies tend to follow suit with...
    In this article BTC.BS=-USSDado Ruvic | ReutersBitcoin topped $48,000 over the weekend, its highest level since mid-May but pared some of those gains on Monday. On Saturday, the digital coin hit $48,126.47, its highest level since May 17, according to Coindesk data. Around 2:49 a.m. ET on Monday, bitcoin was trading at $47,442.40 The bitcoin recovery comes after it sold off heavily in June and July, even dropping below $30,000 following a record high of over $64,000 in April. "I do believe this (bitcoin's rise) is the result of massive accumulation" when bitcoin was trading around $29,000 to $30,000, according to Vijay Ayyar, head of business development at cryptocurrency exchange Luno. Bitcoin's rise helped push the value of the entire cryptocurrency market above $2 trillion on Saturday for the first time since mid-May, according to data from CoinMarketCap which tracks the prices of digital coins. The crypto market has faced a number of headwinds over the summer. One of the biggest was the renewed regulatory scrutiny on the industry from authorities in China which has forced bitcoin mining operations to...
    After months of consolidating between the $ 30- $ 40K range, Bitcoin recently saw the light at the end of the tunnel, as it broke the psychological price of $ 40,000. The leading cryptocurrency is up 19.58% in the last 7 days and reached $ 45,596 during intraday trading, according to CoinMarketCap. Thus, this has given short-term Bitcoin holders a reason to smile as they have returned to profitability. Crypto analytics firm Glassnode explained: “The short-term holder NUPL has just re-traded at positive values. This means that together, STHs have a small profit relative to their on-chain cost base. Quick rallies like this are common in two cases: – Bear market relief spikes – Bull markets phases of disbelief ”. As a result, short-term interest in the Bitcoin market is increasing. Data analytics firm IntoTheBlock noted: “Short-term interest in Bitcoin is increasing. Following the 12-month low experienced in July, the number of addresses holding BTC for less than 30 days has increased by 2.99% in August. 2.95 million addresses have...
    BBCStaticMiner is a cryptocurrency mining digital asset technology company with a focus on the blockchain ecosystem and digital asset generation. It appears that cryptocurrencies have resumed the biggest uptrend again, after hesitating to do so, following the May crash, which lasted until mid-July. The price action also confirms the bullish momentum in the cryptocurrency market, as most of the big cryptocurrencies are pushing higher. Cryptos made a major breakout today, with Bitcoin breaking above the 3-month range between $ 29,000 and $ 44,100. It also broke above the 200 SMA (purple) on the daily chart, which had also been providing resistance during the higher pullbacks and held BTC / USD down for more than 2 months. The war over the crypto market continues, but the crypto market doesn’t care much anymore, indicating that the anti-crypto side will likely not be very successful. The banking establishment is trying to kill this new market, while the other side is trying to increase the use of cryptocurrencies. The cryptocurrency market crashed in May after...
    ETHEREUM investors will be hoping the cryptocurrency one day overtakes Bitcoin as the world's leading one. We asked cryptocurrency experts whether it's likely to happen - and explain what investors need to be aware of. 1We explain whether Ethereum could overtake Bitcoin as the world's leading cryptocurrencyCredit: Reuters Ethereum was released in 2015 and is currently the second largest cryptocurrency behind Bitcoin, which launched in 2009. The former was founded by eight people, one of which is 27-year-old cryptocurrency "celebrity" Vitalik Buterin. As well as being used as a cryptocurrency, developers can also build applications and run smart contracts on Ethereum. In comparison, Bitcoin is more focused as a digital store of value. 5 risks of crypto investmentsBELOW we round up five risks of investing in cryptocurrencies. Consumer protection: Some investments advertising high returns based on cryptoassets may not be subject to regulation beyond anti-money laundering requirements.  Price volatility: Significant price volatility in cryptoassets, combined with the inherent difficulties of valuing cryptoassets reliably, places consumers at a high risk of losses. Product complexity: The complexity of some...
    Art at the cryptocurrency conference Bitcoin 2021 Convention at the Mana Convention Center in Miami on June 4, 2021.Marco Bello | AFP | Getty Images Cryptocurrencies are in a summer slump as they navigate a two-month correction period following a string of negative stories. Trading volumes at the largest exchanges, including Coinbase, Kraken, Binance and Bitstamp, fell more than 40% in June, according to data from crypto market data provider CryptoCompare, which cited lower prices and lower volatility as the reason for the drop. In June the price of bitcoin hit a monthly low of $28,908, according to the report, and ended the month down 6%. A daily volume maximum of $138.2 billion on June 22 was down 42.3% from the intra-month high in May. The report pointed to China as a major catalyst, according to Reuters, which reported on it earlier Monday. China's latest of many efforts over the years to crack down on the industry have had a greater impact than ever before. Investors and experts in the cryptocurrency ecosystem still see a long-term positive trend for bitcoin...
    In this article XRP.CM= ETH.CM= BTC.CM= VIDEO2:0102:01China presses banks to crack down on providing cryptocurrency servicesSquawk Box AsiaGUANGZHOU, China — China's renewed crackdown on the cryptocurrency industry has wiped off nearly $300 billion in value from the total digital currency market since Friday, when a major bitcoin mining hub ordered miners to shut down operations. Bitcoin was down around 6.6% at $32,735.71 at around 10:47 p.m. ET, coming off its 24-hour low of $31,179.05, according to CoinDesk data. Over the past few days, China has stepped up its efforts to rein in the country's cryptocurrency industry.Mining ban, PBOC warningOn Friday, authorities in China's Sichuan province, ordered cryptocurrency miners to shut down their operations, according to multiple media reports. Sichuan is one of the biggest bitcoin mining centers in China. Many bitcoin mines in the southwestern Chinese province were closed as of Sunday, according to state-backed tabloid the Global Times. The move in Sichuan comes after other mining-intensive provinces in China, including Inner Mongolia, also shut down crypto mining. In May, Beijing called for a crackdown on bitcoin mining, highlighting...
    In this article TSLAElon Musk, the CEO of Tesla.Christophe Gateau/picture alliance via Getty ImagesTesla CEO Elon Musk on Sunday said the company will resume bitcoin transactions once it confirms there is reasonable clean energy usage by miners. "When there's confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing bitcoin transactions." Musk was reacting to comments from Magda Wierzycka, CEO of South African asset manager Sygnia, who said that Musk's tweets on bitcoin prices were "market manipulation" and should have triggered an investigation by the U.S. Securities and Exchange Commission. Tesla revealed in an SEC filing in February that it purchased $1.5 billion worth of bitcoin and said it would begin accepting bitcoin as a payment method for its products. However, the electric-car maker halted car purchases with bitcoin in mid-May due to concerns over how cryptocurrency mining, which requires banks of powerful computers, contributes to climate change. "We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel," Musk...
    A customer uses a bitcoin automated teller machine (ATM) in a kiosk Barcelona, Spain, on Tuesday, Feb. 23, 2021.Angel Garcia | Bloomberg | Getty Images Bitcoin fluctuated between gains and losses Thursday, as the world's largest cryptocurrency struggled to recover from a major sell-off during the previous session. The digital currency initially climbed Thursday morning, trading as high as $40,700 at one point, before slipping down as low as $38,965, according to data from Coin Metrics. It was last up 2.6% at a price of $39,980. Some of bitcoin's younger alternatives also attempted a comeback Thursday, with ether up 2.2% at $2,676 and litecoin rising 3% to $209. It comes after a brutal plunge for cryptocurrency markets. On Wednesday, bitcoin dived 30% to nearly $30,000 at one point, before paring some of those losses later in the session. The entire crypto market lost hundreds of billions of dollars of value in a single day. The move lower was likely driven by mixed signals from Tesla CEO Elon Musk — who came out as a believer in bitcoin earlier this year...
    More On: cryptocurrency How Elon Musk impersonators scammed over $2M in crypto What are NFTs? The booming blockchain-based movement, explained Kids from ‘Charlie Bit My Finger’ will cash in on iconic video as NFT ‘$40 billion’ Robinhood app tries to vault SEC hurdles Bitcoin plummeted over 15 percent Wednesday, sending the price of the biggest cryptocurrency below the $40,000 mark per coin for the first time in over three months. Bitcoin’s plunge Wednesday morning came amid a broader sell-off of cryptocurrencies that saw the overall market lose about 20 percent of its value, or over $330 billion, in 24 hours, according to data from coinmarketcap.com. As of 8 a.m., bitcoin was trading at about $38,600 per coin, according to coinmarketcap.com. That means the digital coin has lost all of its gains since early February, around the time that Tesla announced it had bought $1.5 billion worth of bitcoin, which helped spark a run-up in price that saw bitcoin peak at over $60,000 per coin in April. Bitcoin is still up over 300 percent compared with a year ago.  Other...
    In this article TSLA BTC.CB= ETH.CM= XRP.CM= Artur Widak | NurPhoto | Getty ImagesGUANGZHOU, China — Hundreds of billions of dollars were wiped off the entire cryptocurrency market after Tesla CEO Elon Musk tweeted that the electric vehicle maker would suspend car purchases using bitcoin. At around 6:06 a.m. Singapore time on Thursday when Musk made the announcement, the value of the whole cryptocurrency market stood at around $2.43 trillion, according to data from Coinmarketcap.com. Around 8:45 a.m., the market capitalization had dropped to around $2.06 trillion, wiping off around $365.85 billion. The market has pared some losses. Since Musk's tweet, the cryptocurrency market had seen $165.75 billion wiped off its value at around 9:22 a.m. Singapore time. In February, Tesla announced in a regulatory filing that it had purchased $1.5 billion worth of bitcoin and planned to accept the cryptocurrency for payments. Musk cited environmental concerns on Thursday and said Tesla is "concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel." Bitcoin is not...
    In this article XRP.CM= ETH.CM= BTC.CM= Bitcoin virtual crypto currency price is displayed on a phone screen in this photo.STR | NurPhoto | Getty ImagesLONDON — Bitcoin prices roared back on Monday as the cryptocurrency market attempted to recover from a broad sell-off last week. Just after midday London time, the price of the world's most valuable digital currency climbed 8% to $53,544 a coin, according to data from Coin Metrics. Two smaller digital tokens, ether and XRP, rose 10% and 12% respectively. Last week, bitcoin slumped below $50,000 for the first time since early March after a proposed capital gains tax hike from U.S. President Joe Biden led to a wave of selling. The entire crypto market shed more than $200 billion of value in a single day. Biden is expected to raise long-term capital gains tax for the wealthiest Americans to 43.4%, including a surtax. That triggered a brief dip in stock markets, and analysts said fears over the proposal may have extended to the crypto market. Bitcoin has risen around 80% since the start of the...
    More than $200 billion has been wiped off the cryptocurrency market as Bitcoin plunged below $50,000 and other digital coins fell over concerns President Biden's plan to raise capital gains taxes will curb investment in digital assets. The selloff on Friday came after reports that the Biden administration is planning a raft of proposed changes to the US tax code, including a plan to nearly double taxes on capital gains to 39.6 percent for people earning more than $1 million.  Bitcoin, the biggest and most popular cryptocurrency, slumped 5 percent to $48,8867, falling below the $50,000 mark for the first time since early March. Smaller rivals, including Ether and XRP, fell around 7 percent. Dogecoin, which is now the eighth biggest crypto, slumped around 19 percent. The selloff resulted in more than $200 billion of value being wiped from the cryptocurrency market, according to CoinMarketCap data.  Bitcoin, the biggest and most popular cryptocurrency, slumped 5 percent to $48,8867, falling below the $50,000 mark for the first time since early March 'Bitcoin headed South today after President Biden signaled that he wanted to raise...
    In this article BTC.CB= ETH.CM= XRP.BS= Getty ImagesGUANGZHOU, China — Bitcoin and other digital coins plunged on Friday wiping over $260 billion off the value of the cryptocurrency market. At around 14:06 p.m. Beijing time, bitcoin was down nearly 10% in the last 24 hours at $49,281.40, according to CoinDesk data. Ethereum fell to $2,202.05, down more than 11%. XRP, the fifth-biggest cryptocurrency plunged over 22%, according to price tracking site CoinMarketCap. This wiped out around $260 billion of value from the entire cryptocurrency market. It was unclear what triggered the sell-off though cryptocurrencies are known for their wild price swings. "The market has run up quite a bit overall, and it's probably cooling off before the next leg up," Vijay Ayyar, head of business development at cryptocurrency exchange Luno, told CNBC by email. On Thursday, U.S. stock indexes fell after reports that President Joe Biden is considering a hike in the capital gains tax. "There has also been a wider stock market dip, which might be affecting all risk-on assets," Ayyar added. This year alone, bitcoin has risen 71%...
    Chesnot | Getty Images The price of bitcoin tumbled over the weekend and was down as much as 19.5% from record highs posted by the popular cryptocurrency in the past week. Bitcoin dropped as low as $52,148.98 on Sunday morning after reaching an all-time high above $64,800 on Wednesday, according to CoinDesk. It was last trading just over $55,795. Other cryptocurrencies, including ether and dogecoin, also took a hit over the weekend. The price of ether, the second-biggest token by market value, dropped as much as 18% and fell below $2,000 on Sunday before more recently trading at over $2,150. The token had also recently hit record highs, topping $2,500 on Thursday. Meanwhile, dogecoin, which soared more than 400% at one point last week and hit an all-time high of 45 cents, dropped as low as 24 cents this weekend.VIDEO2:4202:42Coinbase debut marks monumental shift in crypto industryBitcoinWhat exactly is driving the drop is unclear. An unverified report on Twitter claimed that the U.S. Treasury Department could be looking to crack down on financial institutions for money laundering using cryptocurrency. A...
    In this article SQ TSLA ETH= BTC.CB= In 2021, bitcoin and ether have seen huge rallies. In April 2021, the cryptocurrency market topped $2 trillion in value for the first time.Jaap Arriens | NurPhoto | Getty ImagesGUANGZHOU, China — The value of the cryptocurrency market topped $2 trillion for the first time on Monday driven by a rally in ether, the second-largest digital coin. In just over two months, the market capitalization of the cryptocurrency market has doubled, according to price tracking website CoinGecko, as retail and institutional investors pile into the space. Bitcoin, the biggest digital currency, accounts for over 50% of the entire cryptocurrency market capitalization. Bitcoin has rallied over 100% this year alone, and that has helped drive the cryptocurrency market higher. Last month, bitcoin hit a record high of above $61,000. The digital coin was trading at about $58,800 on Tuesday, according to Coindesk data.Ether rallyBut the latest boost in the cryptocurrency market appears to have been driven by ether, the digital coin that powers the Ethereum blockchain. Bitcoin also runs on a technology called...
    More On: bitcoin Child star turned bitcoin billionaire donates to NYC races Twitter boss to convert proceeds from first-ever tweet to bitcoin Bitcoin market value tops $1 trillion again as price tops $54,000 Mark Cuban says he will sell Dallas Mavericks tickets for Dogecoin Bitcoin retreated from record highs on Monday as one of the world’s biggest economies reportedly considered banning cryptocurrency altogether. The world’s largest and oldest digital currency was trading at $56,626.27 as of 11:14 a.m., down 5.7 percent from a day earlier and 8 percent below the all-time high of $61,556.59 it reached on Saturday, CoinDesk data show. The dip followed a report that India would propose a law making it illegal to possess, trade or issue any cryptocurrency, which would cut off access to a massive market for the burgeoning crypto industry. If it’s enacted, the measure would give India one of the world’s strictest policies against cryptocurrency as officials there look to build a framework for an official digital currency, according to the Sunday Reuters report, which cited a senior government official. “It looks...
    More On: bitcoin Mark Cuban says he will sell Dallas Mavericks tickets for Dogecoin Bitcoin heads for biggest weekly loss since March after steep rally Berkshire’s Charlie Munger calls out investor gambling mentality, bitcoin Bitcoin bounces back over $50K after Square, MicroStrategy buy more Bitcoin’s market value crossed the trillion-dollar mark once again Tuesday as the cryptocurrency’s recent rally regained some momentum. The price of the world’s biggest digital coin climbed about 6.3 percent from a day earlier to $54,274.13 as of 10:44 a.m., giving it a total value of $1.01 trillion, CoinDesk data show. Bitcoin’s market value previously hovered above $1 trillion from Feb. 19 to 22 before its price tumbled toward the end of last month, according to Coinmarketcap.com. Tuesday’s rally followed further signals that institutional investors and large corporations are coming around to cryptocurrency. For instance, the bitcoin-focused investment firm NYDIG announced Monday that it had raised $200 million from a group of investors including Wall Street titans Morgan Stanley, New York Life and billionaire financier George Soros’ Soros Fund Management. NYDIG also said that insurers...
    Coinbase is gearing up to make a US stock market debut amid surging revenues and profits. The cryptocurrency exchange has made a regulatory filing to go public via the Nasdaq stock exchange, bringing it one step closer in its mission to bring about mainstream endorsement of crypto. Back in December, Coinbase said it had confidentially applied to the US Securities and Exchange Commission to go public. Plans and talks about going public started in July last year, according to Reuters.  Debut? Coinbase Global is gearing up to make a possible US stock market debut amid surging sales and profits The landmark decision from the SEC could be a major boon or blow to the legitimacy of cryptocurrencies, and determine which ones are allowed to trade on the platform. In its latest filing, Coinbase cautioned that it was yet to receive the relevant approvals from regulators that would allow it to trade certain securities. RELATED ARTICLES Previous 1 Next Boss of banking giant Goldman Sachs calls working from home... Associated British Foods reveals Primark missed...
    Major cryptocurrencies plunged early Tuesday as investors took some steam out of a rally that’s driven the digital assets to staggering prices. The price of bitcoin tumbled about 14 percent to $46,605.79 after falling as low as $44,964.49 overnight, CoinDesk data show, marking its largest daily decline in a month. Dogecoin, the meme-inspired cryptocurrency that’s become an online cult favorite, recently plummeted more than 20 percent to roughly 4.4 cents. And Ether, second only to bitcoin in terms of market value, sank nearly 19 percent to $1,455.56. The sell-off sent the cryptocurrency market’s total value down about 16 percent to nearly $1.4 trillion just days after it soared to all-time records, according to Coinmarketcap.com. Tesla CEO Elon Musk — one of crypto’s most prominent backers — appeared to kickstart the plunge over the weekend with a tweet declaring that the prices of bitcoin and Ether “seem high” even though his electric-car maker has invested $1.5 billion in the former coin. The markets were also spooked by skeptical comments on Monday from Treasury Secretary Janet Yellen, who called bitcoin “extremely...
    More On: bitcoin 11 glorious homes you can now buy with bitcoin Elon Musk calls bitcoin ‘less dumb’ than holding cash Bitcoin tops $50,000 for the first time Miami is considering paying salaries in Bitcoin Bitcoin’s market value surged past the $1 trillion mark Friday as the world’s largest cryptocurrency continued its staggering rally. The milestone came as the price of a single bitcoin rose to a fresh all-time record of $54,827.69 shortly before noon, putting it up about 5.6 percent from a day earlier, CoinDesk data show. That means bitcoin is now worth more than all but a handful of the world’s publicly traded companies and accounts for roughly 61 percent of the combined value of all cryptocurrencies in circulation, according to Coinmarketcap.com. Bitcoin’s value has surged more than 82 percent since the start of this year as a growing number of institutional investors and major companies started treating it like a mainstream asset. The digital coin got a boost Friday from Tesla CEO Elon Musk, who said it was “a less dumb form of liquidity than cash.”...
    Yuriko Nakao | Getty Images The price of bitcoin crossed another major milestone on Friday, as the cryptocurrency's market value surpassed $1 trillion, according to Coindesk. The digital currency was trading at just under $54,000 per coin on Friday as it hit the new level, up more than 3% in the last 24 hours. The price of bitcoin has now gained about 350% over the past six months. Prior to the recent surge, the digital asset has never traded above $20,000. The move has been fueled in part by increased adoption of the cryptocurrency by major investors and companies. The oldest bank in the United States, the Bank of New York Mellon, announced earlier this month that it was moving into the space. Elon Musk's Tesla converted some of its balance sheet cash into bitcoin earlier this year and said it would start accepting the digital tokens as payment. Market cap is calculated by multiplying the price of bitcoin by the number created. While not a perfect comparison, the $1 trillion market cap would make bitcoin's value greater than all...
    More On: bitcoin Miami is considering paying salaries in Bitcoin Jay-Z, Jack Dorsey launch fund to develop bitcoin in India, Africa Mastercard will enable more merchants to accept cryptocurrency Big companies unlikely to follow Tesla’s bitcoin lead, JP Morgan says Bitcoin surged above $50,000 early Tuesday as a growing number of major companies warmed up to the world’s largest cryptocurrency. The bitcoin price hit an all-time high of $50,584.85 around 7:30 a.m., continuing a rally that’s seen the digital coin’s value climb more than 66 percent this year, according to CoinDesk data. The currency pared the gains to trade 4.5 percent higher than a day earlier at $48,936.02 as of 7:42 a.m., giving it a market value of more than $911 billion. The latest spike followed a string of signals that Wall Street and corporate America are embracing bitcoin as an investment asset. The cryptocurrency’s newest fans reportedly include megabanks such as Morgan Stanley, whose Counterpoint Global investing unit is weighing whether to add bitcoin to its list of potential investments, according to Bloomberg News. JPMorgan Chase co-president Daniel...
    BITCOIN cryptocurrency has reportedly skyrocketed 20 percent after Elon Musk added #bitcoin to his Twitter bio as Dogecoin stocks surged. Musk - a self-made billionaire and the richest person in the world - simply changed his Twitter biography on Friday to read "#bitcoin." 7Musk changed his Twitter biography to read '#bitcoin' Credit: AFP or licensors 7Musk's changed his Twitter bio on Friday morningCredit: Twitter 7The Tesla boss later tweeted: 'In retrospect, it was inevitable'Credit: Twitter At 3.22am ET, the 49-year-old Tesla boss tweeted: "In retrospect, it was inevitable." Approximately eight minutes later, the virtual currency - created in 2009 by someone with the alias Satoshi Nakamoto - soared, CNBC reported. According to the news outlet, CoinDesk data showed Bitcoin went up to $5,000 "in the space of an hour to trade at $37,299." The company was trading at $37,653 and up more than 19 percent four-and-a-half hours later, the report explained. Bitcoin is has a market value of around $690billion and the price of a single bitcoin hit record highs earlier this year of $40,000. Earlier in January, the highest price Bitcoin reached...
    More than $200billion was wiped off the value of the global cryptocurrency market, after bitcoin's value fell by more than 20 per cent in just four days, setting alarm bells ringing in Wall Street.  Bitcoin prices surged to a new all-time high of nearly $42,000 on Friday, with the total digital coin market worth an estimated $1.07 trillion.  But on Monday, bitcoin's value had plunged by 22% all the way back to about $31,000, making the market worth $880 million.  However, experts have claimed that the sudden drop should be welcomed as a 'healthy correction', after the 12-year-old cryptocurrency had soared to unsustainable, record-high prices.  Bitcoin's value surged by 900% since March, which The Bank of America warned could be 'the mother of all bubbles'  Bitcoin's value dropped by 22% in four days, from $42,000 on Friday to $31,000 on Monday, wiping $200million off its value, but experts say it is a healthy reset This chart shows the growth in Bitcoin's value during 2020, a meteoric rise which saw it surpass $20,000 for the first time on...
    A visual representation of the cryptocurrency Bitcoin on November 20, 2018 in London, England.Jordan Mansfield | Getty Images News | Getty Images GUANGZHOU, China — Bitcoin and other digital coins tanked on Monday wiping off some $170 billion from the entire cryptocurrency market. The market capitalization or value of the cryptocurrency market was $959.53 billion at 12:10 p.m. Singapore time, down from $1.1 trillion a day earlier, according to Coinmarketcap. Bitcoin, the largest cryptocurrency, fell over 11% from a day earlier to $35,828.06, at around 12:15 p.m. Singapore time. Ether, the second-largest, was down around 15% to $1,126.72.VIDEO7:0407:04Bitcoin rallies to yet another recordFast MoneyThe sell-off in cryptocurrencies comes after a huge rally and perhaps signals some profit-taking from investors. Bitcoin is still up over 340% in the last 12-months and last week hit an all-time high just below $42,000. Bitcoin's resurgence has been attributed to a number of factors including more buying from large institutional investors. And it has also been likened to "digital gold," a potential safe-haven asset and a hedge against inflation. In a recent research note, JPMorgan said bitcoin...
    The total market value of all cryptocurrencies rose above $1 trillion for the first time on Thursday as Bitcoin surged to a record high. Bitcoin has jumped more than 900 percent from a recent low of $3,850 in March, breaking $40,000 for the first time on Thursday as governments increase spending to blunt the economic impact of the pandemic.  The massive spending on stimulus has raised fears about rising inflation and U.S. dollar debasement, and investors are flocking to Bitcoin as a safe haven. The cryptocurrency is also gaining traction with more mainstream investors who are increasingly convinced that Bitcoin will be a long-lasting asset, and not a speculative bubble as some analysts and investors fear. Bitcoin has jumped more than 900 percent from a recent low of $3,850 in March, breaking $40,000 for the first time on Thursday RELATED ARTICLES Previous 1 Next Social media influencer, 33, reveals how she was able to... The digital gold rush: Bitcoin has almost QUADRUPLED in... Share this article Share Sergey Nazarov, co-founder of...
    The value of the cryptocurrency market topped $1 trillion for the first time Thursday as Bitcoin surged to yet another record high. The world’s biggest digital coin made its first climb past the $39,000 mark to a peak of $39,231.40, a roughly 12 percent gain from a day earlier, CoinDesk data show. That helped drive the combined market value of all cryptocurrencies up nearly 11 percent to $1.05 trillion, according to CryptoMarketCap.com, which tracks hundreds of digital tokens. Bitcoin alone accounts for the vast majority of that total with a market capitalization of about $726 billion, the site says. Smaller coins also saw strong gains Thursday — Etherium, the second-largest cryptocurrency by market value, was recently up 8.2 percent at $1,248.19, while XRP surged nearly 36 percent to about 34 cents, according to CoinDesk. Once a fascination of amateur retail traders, Bitcoin has been on a record-breaking tear in recent months as it gained traction among institutional investors. The cryptocurrency has been buoyed by perceptions that it’s a good way to protect against inflation. JPMorgan Chase analysts have...
    Chesnot | Getty Images GUANGZHOU, China — Bitcoin smashed through $37,700 to hit a new record high on Thursday helping to lift the total value of the entire cryptocurrency market above $1 trillion for the first time. The digital coin hit an all time high of $37,724.67 at around 11:44 a.m. Singapore time, more than three hours after blowing past $36,000, according to data from Coindesk. Bitcoin was over 5% from a day earlier at around 1:04 p.m Singapore time. The cryptocurrency is up about 29% since the start of 2021 and in the past 12 months has surged over 380%. Meanwhile, the value of the entire cryptocurrency market, which is made up of bitcoin and other digital coins like ether and tether, surpassed $1 trillion for the first time early on Thursday, according to data from Coinmarketcap. Bitcoin's resurgence has been attributed to a number of factors including more buying from large institutional investors. High profile investors like Paul Tudor Jones, for example, have been buying bitcoin. Many bitcoin bulls say the cryptocurrency is akin to "digital gold," a...
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