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

An early Saturday morning slide saw Ethereum slip below the key support level of $1,000, and Bitcoin fall as low as $18,905, representing significant new lows in already bearish crypto market, according to CoinMarketCap. Ethereum dropped precipitously from $1,076 to $986 in less than two hours. Bitcoin is down nearly 10% for the day, and continues to hover below the $20,000 mark at press time. The last time Bitcoin was in the $19,000 range was December 2020. Back then, hitting $19,450 was… Source link

CashFi (CFI) is one of the most talked-about cryptocurrencies right now, even without being launched. A lot of buzz has been generated around it, and experts predict it to go on a bullish run.  This is because of the virality it has gotten, which has made lots of investors read up about it. That is why you’re here, after all. That’s a good thing, though, as it shows you know what you’re doing.  Lots of people see a coin trending and then rush to buy it without carrying out any due… Source link

(Independent) The price of bitcoin has fallen through $20,000, marking an important milestone in the ongoing collapse of cryptocurrency. It means the value of bitcoin is lower than it has been since 2020, and represents the point at which many analysts had expressed concerns that sentiment could continue to spiral. The drop has been driven in part by the failure of two major cryptocurrency projects: Terra Luna and Celsius. Both were intended as important ways of promoting the stability of… Source link

Bitcoin has fallen to a significant new low in the current bear market. On Saturday morning, Bitcoin dropped below $20,000, according to data from CoinMarketCap—a milestone seen as a crucial support level for the top cryptocurrency by market cap. At time of going to press, Bitcoin is trading at around $19,460, down over 6% on the day. Although BTC breaching $20,000 is a largely symbolic barrier, experts believe a drop below this level could trigger a wave of ‘forced liquidations’, in… Source link