The fear of missing out works in reverse too. Just ask anyone holding Bitcoin right now. No one likes watching others get rich, and when it happens it does something to investor psyches. That’s one reason investment bubbles form—money rushes into a sector playing catch-up, looking for a piece of the action. No longer. Bitcoin is down nearly $5,000 or 12%, breaking $40,000 in early Wednesday trading. It’s the tenth daily drop in the past two weeks of trading. The cryptocurrency is… Source link

Ethereum (CRYPTO:ETH) has been shattering records right and left. Over the past year, its price has soared by more than 1,600%. In the past month alone, it’s up nearly 50%, as of this writing. It’s even surpassed crypto king Bitcoin (CRYPTO:BTC), which has “only” increased 380% over the past year. If you’re itching to jump on the cryptocurrency bandwagon, you’re not alone. It’s hard to ignore returns like these, and many investors are scrambling to… Source link

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Bitcoin tumbled 14 per cent to its lowest level since early February after Chinese regulators intensified efforts to crack down on the use of cryptocurrencies by financial institutions. In a joint statement issued on the People’s Bank of China’s WeChat account, banking and internet industry associations said that financial and payment institutions should not accept cryptocurrencies as payment or offer services and products related to them. Virtual currency “is not a… Source link

Bloomberg China Puts Australia on Notice With Push to Diversify Iron Ore (Bloomberg) — Beijing threw the spotlight on trade tensions with its top commodities supplier, Australia, after the government’s economic planning agency said it’s looking to diversify China’s supply of iron ore.Chinese firms should boost domestic exploration for the steel-making input, widen their sources of imports, and explore overseas ore resources, the National Development and Reform Commission said at its… Source link

Follow us @crypto for our full coverage. Bitcoin took investors on a wild ride Wednesday, plunging as much as 29% before cutting the drop in half in a bout of selling that drew attention across Wall Street and social media. The extreme volatility in an asset known for its swings caused outages on major crypto exchanges and at one point brought Bitcoin’s market value down $500 billion from its peak last month. The tumult elicited a tweet from Elon Musk and… Source link

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.