Dogecoin support coming to Coinbase in ‘weeks’ Major cryptocurrency trading platform Coinbase said that it will be adding support for dogecoin in the coming weeks. The announcement came in response to the first question asked during the investor call that followed its debut results after it listed on the stock market earlier this year. Chief executive Brian Armstrong said the company is keen on adding more assets, and that dogecoin would be one of those in the next “six to eight… Source link

Cryptocurrencies such as bitcoin, ether and dogecoin have surged to highs that few investors would have predicted a year ago. The furious run has even the most optimistic traders asking: Can it last? The forces underpinning the crypto mania mirror those that saw GameStop Corp. shares tear higher earlier this year. Excess money from stimulus checks aimed at helping the most vulnerable make rent has also found its way to brokerage accounts that offer free trading. Meanwhile, people globally… Source link

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Bitcoin Bitcoin, BTC to USD, slid by 20.06% in the week ending 16th May. Reversing a 2.96% gain from the previous week, Bitcoin ended the week at $46,597.0. A mixed start to the week saw Bitcoin rise to a Monday high intraweek high $59,589.8 before hitting reverse. Falling short of the first major resistance level at $60,831, Bitcoin slid to a Sunday intraweek low $44,021.0. The extended sell-off saw Bitcoin fall through the first major support level at $54,341 and the second major support level… Source link

Ethereum Ethereum fell by 1.71% on Sunday. Following a 10.56% slide from Saturday, Ethereum ended the week down by 8.73% to $3,585.62. A mixed start to the day saw Ethereum rise to a late morning intraday high $3,878.23. Falling short of the first major resistance level at $3,981, Ethereum slid to a late intraday low $3,343.57. The sell-off saw Ethereum fall through the first major support level at $3,475 before a partial recovery to $3,580 levels. At the time of writing, Ethereum was down by… Source link

On Sunday, the Tesla (TSLA) CEO did it again: Bitcoin extended losses after Musk seemed to suggest in a Twitter exchange that his automaker may consider selling or has sold its holdings in the cryptocurrency. “Bitcoiners are going to slap themselves next quarter when they find out Tesla dumped the rest of their #Bitcoin holdings,” a user named CryptoWhale tweeted Sunday. As of 11:30 p.m. ET on Sunday, bitcoin was down about 7.7% to $43,000, according to cryptocurrency tracker Coinbase. It had… Source link

Bloomberg The World Economy Is Suddenly Running Low on Everything (Bloomberg) — A year ago, as the pandemic ravaged country after country and economies shuddered, consumers were the ones panic-buying. Today, on the rebound, it’s companies furiously stocking up. Mattress producers to car manufacturers to aluminum foil makers are buying more material than they need to survive the breakneck speed at which demand for goods is recovering and assuage that primal fear of running out. The corporate… Source link

Share Tweet Share Share Share Email Twitter and Square CEO Jack Dorsey has come out in favor of bitcoin, saying Square would always work to boost the cryptocurrency, Bloomberg says. Dorsey said bitcoin “changes everything for the better.” He made the tweet in what seemed to be a response to a tweet from Square Chief Financial Officer Amrita Ahuja,… Source link

What does a weekend meltdown in bitcoin prices portend for U.S. stocks? Bitcoin BTCUSD, +0.87% is supposed to be an asset that isn’t highly correlated with equity markets, or any other traditional asset for that matter, but some analysts have pointed out that the cryptocurrency has traded in closer step with parts of the market amid the recent turbulence in equities as investors attempt to assess the most effective strategies for playing an economy… Source link

Earlier this week, Tesla exacerbated an already nervous market mood with the announcement that it was no longer accepting the cryptocurrency as payment for its products. As usual, the crypto market focused on the immediate narrative: If Elon Musk says that bitcoin is bad for the environment, other large investors will probably worry about public scrutiny and decide to sell, right? The expectations game, which consists of guessing what others think you’re thinking, then makes reducing… Source link