What happened The price of popular cryptocurrency Ether (CRYPTO:ETH) has been dropping for the last month, and continued to do so today. The digital currency’s value has dropped 30% over the last month, and almost 20% in just the last week. Today, Ether ended the market trading day more than 3% lower.  So what Of course the price drop also comes after cryptocurrencies as a group have soared in the last year. Ether is up 740% in the last 12 months and… Source link

China’s relationship with bitcoin has long been defined by regulations. As news of the country’s latest restrictions once again dominates headlines, it’s important to put the new regulations in the context of past ones. China’s first major crypto statute came in 2013, when the government recognized bitcoin as virtual property but banned it as a medium of transaction. In 2017, China’s central bank declared initial coin offerings (ICO) illegal, causing bitcoin’s value to temporarily… Source link

Three weeks ago, see here, I showed a potential Bullish Elliott Wave Principle (EWP) path for Ethereum (ETH), “if ETH can rally above the $2920 high made last week, without dropping below Sunday’s low first ($2275) and especially not below $1736“. Well, that rally over $2920 did not happen as the cryptocurrency stalled at $2890 on June 3 and subsequently dropped below $1736 two days ago. Thus the Bullish potential setup was negated. Does this mean the run to $9000 will not happen… Source link

Despite their massive rally earlier this year, cryptocurrency prices have plunged yet again. Ethereum (CRYPTO:ETH) has also taken a turn for the worse, with its price falling by more than 55% since its peak on May 12. While these extreme downturns can be nerve-wracking, there is a silver lining: The most expensive cryptocurrencies are now on sale. As of this writing, Ethereum is priced at $1,985 per token. That’s down significantly from its peak price… Source link

Stocks are set to continue inching higher on Thursday, as markets relax about inflation risks and exact details of what’s coming from the U.S. Federal Reserve.  The cryptocurrency market is down significantly on the week, having lost $1 trillion of market capitalization from its peak of $2.5 trillion in early May, said a group of analysts led by Nikolaos Panigirtzoglou at investment bank JPMorgan JPM, +0.19%.   Panigirtzoglou and his team have our call of… Source link

Breadcrumb Trail Links FP Finance Financial Times Cryptocurrency Promises to help make dirty money disappear without a trace Author of the article: Financial Times Hannah Murphy in San Francisco Publishing date: Jun 24, 2021  •  11 minutes ago  •  5 minute read  •  Join the conversation A pedestrian wearing a mask walks past a digital sign for Monero on Toronto’s Yonge Street. The digital currency is becoming popular with ransomware gangs because it… Source link

Ethereum Ethereum rose by 4.63% on Wednesday. Reversing a 0.20% loss from Tuesday, Ethereum ended the day at $1,968.37. A mixed start to the day saw Ethereum fall to an early morning intraday low $1,823.97 before making a move. Steering clear of the first major support level at $1,722, Ethereum rallied to a mid-morning intraday high $2,045.00. Ethereum broke through the first major resistance level at $2,019 before falling back to sub-$2,000 levels. At the time of writing, Ethereum was up by… Source link

Where does your enterprise stand on the AI adoption curve? Take our AI survey to find out. The gods are evidently fond of tokens. Immutable said today that the Gods Unchained blockchain card game will launch a new Ethereum token dubbed $GODS in partnership with Nine Realms. Sydney, Australia-based Immutable will launch the $GODS token to scale its trading market and play-to-earn systems in the game. That means that players will be able to buy and sell the tokens in the game and… Source link

Cryptocurrencies were slightly higher on Wednesday as traders grappled with the likelihood of more regulation. Bitcoin is up about 1.9% over the past 24 hours, giving up about half of Tuesday’s relief rally, suggesting that buyers are starting to take profits.  “It’s too early to tell if this is ‘the’ bottom or just a temporary floor before more downside. The lack of any upside catalyst (beside some contrarian oversold metrics) remains the biggest hurdle for cryptos to bounce… Source link

While bitcoin seems to have found a bottom, a quick rally to record highs looks unlikely, analysts told CoinDesk on Wednesday, saying the cryptocurrency now faces price consolidation. “Bitcoin looks to have bottomed out, having digested most negative news during the recent sell-off from $41,000 to $29,000,” trader and analyst Alex Kruger said. Prices topped $41,000 early last week before turning south in the latter half after the Federal Reserve’s unexpected hawkish tilt on interest… Source link