Here are key reasons bitcoin prices are tumbling

A fresh record high for bitcoin is going to have to wait, if it comes at all. Bitcoin prices BTCUSD, -0.83% BTCUSD, -0.83% on Friday were being pummeled, pushing the cryptocurrency into correction territory, commonly defined as a decline in an asset from a recent peak of at least 10%. At last check, Bitcoins changed hands on CoinDesk, down 2.4%, at $16,714, representing a more than 14% decline from its 52-week peak… Source link

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Bitcoin’s Carnivore Cult Is Both Stupid and Correct

This entire article is Saifedean’s fault.  Saifedean Ammous, author of “The Bitcoin Standard,” kept heaping steak tartare onto my plate at a Bitcoin meetup back in August 2018, in between jokes about liberal plebs.   As the youngest woman in the room, per usual, I wanted acceptance from the Bitcoin clan. Despite nearly a decade of (fickle) vegetarianism, I accepted the author’s meat offerings in exchange for an off-the-record interview. I torpedoed questions his way between bites…. Source link

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Bitcoin tumbles another 6%, extending biggest slide since COVID-19 struck | Currency News | Financial and Business News

A chain of block erupters used for Bitcoin mining is pictured at the Plug and Play Tech Center in Sunnyvale, California, October 28, 2013. REUTERS/Stephen Lam Bitcoin slumped further through the Thanksgiving holiday as intense profit-taking dragged on prices. The world’s most popular cryptocurrency tumbled as much as 5.9%, to $16,242.70, over the last 24 hours. The slump is bitcoin’s biggest since the coronavirus pandemic slammed markets in March and reverses the weeks-long rally… Source link

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Bloomberg lists 5 bullish trends for Bitcoin price despite ‘Thanksgiving crash’

Bitcoin (BTC) continues to convert some of its harshest traditional critics from mainstream finance as Bloomberg admits that this bull run is nothing like 2017.  In an article on Nov. 27, the publication known for its pessimism highlighted a range of Bitcoin metrics pointing to a bullish future — despite Thursday’s $3,000 price rout. Bloomberg: Bitcoin market “far more liquid” Included as evidence were record-high Bitcoin futures open interest, non-zero wallet numbers, hash rate and… Source link

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‘Dr. Doom’ economist Nouriel Roubini trashes Bitcoin for being heavily manipulated, and blames retail investor FOMO for its recent pump-and-dump | Currency News | Financial and Business News

REUTERS/Fred Prouser Nouriel Roubini, known as “Dr. Doom” for his bearish views, slammed Bitcoin for being heavily manipulated and blamed retail investor FOMO for this week’s boom and bust on Twitter on Thursday. Roubini tweeted the digital token has no role to play in the portfolios of retail or institutional investors because it has zero intrinsic value. “Retail suckers with massive FOMO have been jumping again into BTC as they did in late 2017 when price went from 10K to 19K… Source link

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$50 Billion Crash—What Next For Bitcoin, Ethereum, Ripple’s XRP, Litecoin And Chainlink?

Bitcoin, ethereum, Ripple’s XRP, bitcoin cash, litecoin and chainlink—the biggest cryptocurrencies by market value—have fallen sharply after rocketing higher through November. The bitcoin price lost $3,000 in a matter of hours yesterday, dropping over 10% from near its all-time highs of almost $20,000 per bitcoin—while ethereum, Ripple’s XRP, chainlink, bitcoin cash and litecoin, all saw similar retractions. The sudden sell-off wiped around $50 billion from the value of the world’s… Source link

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Legendary poker player goes all in on Bitcoin, liquidates Ether and Monero

Source: ZinetroN – Shutterstock Cypherpunk Holdings, directed by legendary poker player Tony G, has dumped its Monero and Ethereum and used the funds to increase its BTC position. The company now owns 276.479 BTC, the ninth-largest stash owned by a public company. A Canadian publicly listed company has gone all in on Bitcoin, liquidating its Monero and Ethereum holdings. Cypherpunk Holdings has now become the ninth-largest publicly traded holder of Bitcoin, just behind Hive Blockchain. All in… Source link

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Bitcoin price dives back under $16,900 as whale deposits spike again

The price of Bitcoin (BTC) dropped below $16,900 again on Nov. 27 across top exchanges, including Binance. The recent pullback comes as whale exchange deposits started to increase. Ki Young Ju, the CEO of CryptoQuant, reported that the All Exchange Inflows Mean indicator reached the “danger zone.” Historically, this caused BTC to suffer short-term corrections. Bitcoin struggles to regain momentum above $17,000 After the price of Bitcoin briefly dropped to $16,200 on Nov. 27, it started to… Source link

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Wallets with less than 1 BTC account for just 5% of Bitcoin’s market cap

New data suggests that “wholecoiners” — Bitcoin wallets holding 1 BTC or more — now account for 95% of the cryptocurrency’s entire capitalization. That leaves just 5% of the market cap divided among tens of millions of users with a balance below 1BTC. The total number of wholecoiner addresses has steadily increased year-over-year since 2009, despite BTC’s astronomic price rallies. On Nov. 27, Glassnode CTO Rafael Shultze-Kraft tweeted a chart revealing that more than 800,000… Source link

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Litecoin (LTC) Closes Last Hour Down $-0.69; Moves Down For the 2nd Consecutive Day, in an Uptrend Over Past 14 Days, Breaks Below 20 Day Average

The Hourly View for LTC Last Updated November 27, 2020, 02:036 GMT At the time of this writing, LTC’s price is down $-0.69 (-0.96%) from the hour prior. The hourly chart shows that LTC has seen 2 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, with price now being below… Source link

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