Bitcoin [BTC], the king coin has gone below the $20,000 level, losing its much-respected price milestone. The United States Federal Reserve’s comments on the inflation outlook saw Bitcoin witnessing the brunt of a sell-off. At press time, the world’s flagship crypto was changing hands at $19,227 on CoinMarketCap. Sentiment hits dead low At press time, the Fear and Greed Index recorded an ‘extreme fear’ sentiment on their indicator which doesn’t come as a surprise. To… Source link

Just after 3 a.m. on Saturday morning, Bitcoin finally fell below $20,000. One hour later, Ethereum followed it down and fell below $1,000. Those figures were seen as much-dreaded key support levels for the top two coins by market cap. But by 5:15 a.m. EST, both began to slowly climb back, appearing to avoid the immediate precipitous slide many predicted would happen if $20,000 and $1,000 were breached. Some may have hoped $18,979 and $987 would be the lows of this crash. No such luck:… Source link

Litecoin Falls 10% In Rout Investing.com – was trading at $42.330 by 16:07 (20:07 GMT) on the Investing.com Index on Saturday, down 10.20% on the day. It was the largest one-day percentage loss since June 18. The move downwards pushed Litecoin’s market cap down to $3.053B, or 0.38% of the total cryptocurrency market cap. At its highest, Litecoin’s market cap was $25.609B. Litecoin had traded in a range of $42.330 to $48.340 in the previous twenty-four hours. Over the past seven days,… Source link

Like clockwork, the onset of a crypto bear market has brought out the “Bitcoin is dead” crowd who gleefully proclaim the end of the largest cryptocurrency by market capitalization. If #Bitcoin can collapse by 70% from $69,000 to under $21,000, it can just as easily fall another 70% down to $6,000. Given the excessive leverage in #crypto, imagine the forced sales that would take place during a sell-off of this magnitude. $3,000 is a more likely price target. — Peter Schiff (@PeterSchiff)… Source link

This week in coins. Illustration by Mitchell Preffer for Decrypt. This week’s crypto crash is an ongoing spectacle, with the total market capitalization of all blockchain assets shrinking to about $844.5 billion, a level unseen since the very start of 2021. Bitcoin plunged well below $20,000, and as of this writing was trading at $19,095—the market leader has shed one-third of its value over the last seven days.  Ethereum is also in the trenches, trading at time of writing for $994.68,… Source link

While bitcoin’s price dropped below the $20K region, the network’s hashrate slipped under the 200 exahash per second (EH/s) region to 167 EH/s on June 18. At the time of writing, the hashrate is coasting along at 184 EH/s after a slight rebound following the drop. With the price per bitcoin lower this week and the hashrate dropping, bitcoin miners may get a break in four days as the network’s difficulty adjustment algorithm (DAA) is expected to slide 2.8% lower than today’s… Source link

The price of Ethereum’s native token, Ether (ETH), careened below $1,000 on June 18 as the ongoing sell-off in the crypto market continued despite the weekend. Ether reached $975, its lowest level since January 2021, losing 80% of its value from its record high in November 2021. The decline appeared amid concerns about the Federal Reserve’s 75 basis points rate hike, a move that pushed both cryptocurrencies and stocks into a strong bear market. “The Federal Reserve has barely started raising… Source link

The cryptocurrency market took a beating over the past week. The total capitalization is down below $1 trillion for the first time since January 2021, losing a staggering $300 billion in seven days alone. One of the cryptocurrencies that performed particularly badly was ETH. It’s down 40% over the same period and is trading at around $1,000, having dipped below this level briefly. Source: TradingView Without any further ado, here are three possible reasons for ETH’s… Source link

Text size Democractic Sen. Elizabeth Warren is raising questions about Fidelity’s plan to allow Bitcoin in 401(k) accounts. Tom Williams-Pool/Getty Images … Source link

The bright orange Bitcoin (BTC) logo, for over a decade, has become synonymous with financial freedom amid modern-day recession and stringent governmental oversight. However, unlike the mysteries tied to Bitcoin’s origin, the development of the Bitcoin ‘₿’ logo is fairly documented in the depths of the internet.  When Bitcoin was introduced 13 years ago by creator Satoshi Nakamoto, the first iteration of the Bitcoin logo represented a gold coin with a “BC” text embedded in the… Source link