Dado Ruvic/Reuters Bitcoin hit a new all-time high of more than $41,000, as the cryptocurrency rally showed little sign of slowing down despite recent volatility. The Bitcoin and crypto rally has been driven by record amounts of fiscal and monetary stimulus drowning markets in cash, as well as fears about currencies and inflation. Critics question whether the rally is sustainable and point to past crashes in Bitcoin such as when it dropped from $19,000 to $4,000 between 2017 and… Source link

After a minor downside correction, bitcoin price started a fresh increase above USD 38,500. BTC surged over 8% and reclaimed the USD 40,000 level. It is currently (13:00 UTC) trading well above USD 40,000 and it could continue to rise towards USD 42,000 and USD 42,500.Besides, most major altcoins are recovering and rising. ETH/USD is back above USD 1,200 and it seems like it could even test USD 1,300 in the near term. XRP/USD is stable above USD 0.320 and it is facing hurdles near USD… Source link

Bitcoin has had a phenomenal start to 2021, topping $40,000 per bitcoin for the first time ever. The bitcoin price has added a staggering 400% over the last 12 months, climbing as institutional investors warm to the cryptocurrency and payments giants such as PayPal PYPL add their support. Now, with retail investors increasingly eyeing bitcoin in light of its recent gains, new research shows how bitcoin “whales” accumulated a huge number of bitcoin tokens in December, helping the… Source link

Litecoin price is struggling today as investors start to question the recent rally in digital currencies. LTCUSD is trading at $163, which is slightly below this year’s high of $181. It has a market cap of more than $10 billion, making it the fifth-biggest cryptocurrency after Bitcoin, Ethereum, and Ripple. What happened: Litecoin has been in an upward trend. For one, it has jumped by more than 550% from its lowest level last year. This makes it one of the… Source link

Litecoin retest support at $150 following rejection from the yearly high at $181. On-chain data shows that recovery back to $180 will be challenging, especially with a high seller concentration at $170. Litecoin was rejected from levels above $170 barely a day after hitting a new yearly high at $181. The retreat occurred alongside Bitcoin’s rejection at $40,000. The bearish leg extended to $150 after failing to find support at $160. LTC has already resumed the… Source link

getty For years, Treasury has advised taxpayers that virtual currency is not required to be reported on the Financial Crimes Enforcement Network (FinCEN) Form 114, Report of Foreign Bank and Financial Accounts, or what used to be called the FBAR. That appears to be changing. FinCEN has now announced an intention to amend the rules to require FBAR disclosures for virtual currency like Bitcoin. Currently, United States persons are required to file an FBAR if they hold… Source link

Ethereum Ethereum rose by 1.21% on Thursday. Following on from a 9.81% rally on Wednesday, Ethereum ended the day at $1,227.34. Another mixed start to the day saw Ethereum fall to a late morning low $1,160.71 before making a move. Steering clear of the first major support level at $1,108.23, Ethereum rallied to a late afternoon intraday high and a new swing hi $1,291.94 Ethereum broke through the first major resistance level at $1,265.89 before a pullback to an intraday low $1,140… Source link

Bitcoin’s face-melting rally has continued today. getty Bitcoin prices continued climbing today, surpassing $40,00 for the first time in history as the cryptocurrency market kept breaking records. The world’s most prominent digital currency rose to as much as $40,324.01 around 1 p.m. EST, according to CoinDesk data. At this point, bitcoin was up more than 900% in less than a year, after falling below $4,000 in March 2020, additional CoinDesk figures… Source link

That’s because one bitcoin (XBT) is now worth more than $40,000 — double the value from a little more than three years ago. The value of all bitcoins in circulation is now more than $740 billion and the total value for all cryptocurrencies is more than $1 trillion, according to CoinMarketCap. Investors have flocked to bitcoin in recent months as the cryptocurrency has gone mainstream. Square (SQ) and PayPal (PYPL)now let their users buy and sell bitcoin. Top money managers including Paul… Source link

Jan 9th 2021 THE FIRST surge in the price of bitcoin, to around $1,000 in 2013, minted cryptocurrency millionaires, provoked declarations of a bubble and left some early fans kicking themselves. One unlucky man in Wales searched a rubbish dump for a hard drive containing 7,500 accidentally discarded bitcoins, whose value had grown from almost nothing to $7.5m. Since then bitcoin has been on a wild ride. Fuelled by casual speculators and market manipulation, its price surged to about $19,000… Source link