Bitcoin, after struggling over the last week in the face of regulatory pressure and environmental concerns, has crashed under $40,000 per bitcoin. The bitcoin price, which started May at almost $60,000, has dropped under the closely-watched $40,000 level after it emerged China was redoubling its crackdown on bitcoin and cryptocurrencies in the country. Meanwhile, other major tokens ethereum, Binance’s BNB, cardano and the viral meme-based dogecoin also crashed back—dragging the… Source link

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Ethereum Ethereum rose by 2.82% on Tuesday. Partially reversing an 8.41% slide from Monday, Ethereum ended the day at $3,375.96. A mixed start to the day saw Ethereum fall to an early morning intraday low $3,241.06 before making a move. Steering clear of the first major support level at $3,064, Ethereum rallied to a late morning intraday high $3,567.40. Ethereum broke through the 23.6% FIB of $3,369 and the first major resistance level at $3,546 before hitting reverse. The reversal saw Ethereum… Source link

This year’s altcoin season is in full swing as more folks look for Monero price forecasts. Numerous coins at the bottom of the crypto list keep surprising with their all-time highs. Will Monero meet price predictions for 2021 and beyond? We’ll explain the basics of Monero for those who haven’t heard of this cryptocurrency. Then, we’ll compare its features with the biggest name in crypto, Bitcoin. More importantly, we’ll discuss whether your portfolio needs some XMR coins or not.

It has been a bad week for the crypto space. Elon Musk is widely believed to play a major role in crashing Bitcoin’s price by $12k when he tweeted that Tesla will no longer be accepting Bitcoin. He framed this backtracking as an environmental concern due to the high levels of energy consumption required in Bitcoin mining. As a result, this had a cascading effect on almost all altcoins with very few exceptions. To set the record straight, it is very difficult to portray Bitcoin as an… Source link

According to a report from CoinShares, the month of May marked the first time that there has ever been more investment product trading volume in Ethereum (CRYPTO: ETH) than Bitcoin (CRYPTO: BTC). What Happened: The report revealed that last week’s outflows were solely from Bitcoin investment products which accounted for $98 million in assets under management. While the $98 million represented just 0.2% of digital assets under management across… Source link

Over the past two weeks, Litecoin (CRYPTO:LTC) has been in a steep downtrend. It has dropped by more than 25%. If the downtrend continues, it may end around the $225 level. This is where it found support in April and a large rally followed. Of course, there’s no guarantee it happens again… but there’s a chance it does. See Also: How To Buy Litecoin Watch “Moon or Bust” Live at… Source link

After a lackluster start to the week, stocks are struggling for gains, though beaten-down technology names have perked up. While the Nasdaq Composite COMP, -0.56% has lost 4% this month, tied to inflation worries, it has been even more brutal for some cryptocurrencies, such as bitcoin BTCUSD, -0.61%, down 20% this month. Bitcoin has sunk 30% below an all-time high of $64,829 reached in April, after Tesla TSLA, +0.18% … Source link

Here’s why Bitcoin’s price has fallen and what it means for you as an investor. The world’s largest digital currency has fallen 18% this week. Bitcoin fell to $42,207 yesterday, the lowest it’s been since Feb. 8. According to data from CoinMarketCap, it then rallied and finished the day at around $43,500. What’s behind Bitcoin’s low? There were several factors behind Bitcoin’s fall, but the confusion caused by Tesla CEO Elon Musk’s tweets had a considerable impact. Elon Musk tweets Bitcoin’s… Source link

Bitcoin inflows to cryptocurrency exchanges surged on Monday by the most in 15 months, blockchain data shows, in what might be a sign of more retail traders looking to liquidate their holdings in a falling market. Crypto exchanges registered a net inflow of 30,749.89 BTC on Monday, according to the data provider Glassnode. That was the biggest single-day tally since March 12, 2020, when the bitcoin price tanked by 40% amid coronavirus-induced panic selling in the global financial markets –… Source link