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

Vitalik Buterin, originally from Russia, is the creator of the Ethereum blockchain used for the … [+] latest DeFi apps and non-fungible tokens. Look how much it’s up in five years. KMR Images Ethereum, the most traded cryptocurrency after Bitcoin, had a bad weekend. Fear not, crypto bulls. The market is still bullish long term for ETH. That seems to be the consensus. Marc Cuban says it even “dwarfs Bitcoin.” “There was a relentless spot bid in ETH for several week but… Source link

Bitcoin (BTC) price slipped below $46,000 on Sunday for the second time in four days, raising the specter of a deeper short-term correction for the flagship digital currency. Bitcoin fell to a session low of $45,127.01, according to TradingView, before staging a modest recovery to around $45,400. The largest cryptocurrency by market capitalization is down 5% on the day and over 20% in the last seven days. The Bitcoin price braces for short-term volatility. Source: TradingView The selloff in… Source link

Photo by Cindy Ord/Getty Images for Yahoo Fundstrat’s Tom Lee is confident that bitcoin bulls won’t change their tune on the cryptocurrency following Elon Musk’s abrupt reversal. Lee upgraded his bitcoin price target from $100,000 to $125,000 by year-end. He said it is possible Musk had to consider investors’ ESG concerns over bitcoin. See more stories on Insider’s business page. Fundstrat Global Advisors managing partner Tom Lee is confident that bitcoin will continue to rally in… Source link

As the meme-friendly Dogecoin has showed us, the next hot cryptocurrency can come from almost anywhere. While the majority will undoubtedly be volatile, I don’t think we have seen the last of crypto mania, and I am sure there are other growth tokens that will emerge. It will be important to split them into two pots: Those that have real-world utility, like Ethereum, and those that are more artificially inflated, like Dogecoin, which may be able to… Source link