A majority of 62 out of 84 lawmakers approved the bill, which President Bukele proposed last week. El Salvador has approved a proposal from President Nayib Bukele for a law to classify Bitcoin as legal tender, making the Central American nation the first in the world to do so. A majority of lawmakers voted in favour of the initiative late on Tuesday to create a law that will formally embrace the cryptocurrency, despite concern about the potential effect on El Salvador’s programme with the… Source link

Ethereum Ethereum fell by 3.22% on Tuesday. Following a 4.37% loss on Monday, Ethereum ended the day at $2,509.11. A bullish start to the day saw Ethereum rise to an early morning intraday high $2,621.91 before hitting reverse. Falling short of the first major resistance level at $2,769, Ethereum tumbled to a mid-afternoon intraday low $2,308.75. Ethereum fell through the first major support level at $2,495 and the second major support level at $2,398. Finding late support, Ethereum broke back… Source link

The Monero price was not left behind in the recent cryptocurrency rout. The XMR is trading at $246, which is about 20% below the highest level on Monday. It has a market cap of more than $4.4 billion, according to data compiled by CoinMarketCap. What happened: The recent price action of Monero has been relatively surprising. The coin has dropped by more than 52% from its all-time high. This is despite some good news for the coin. For one, the number of ransomware… Source link

New Delhi: Major Cryptocurrencies continued to trade lower on Wednesday. However, the cuts were marginal and seven top 10 digital currencies lost up to 2 per cent at 9.30 hours IST. Crypto market has remained tepid in the last 24 hours. Virtual currencies, led by Bitcoin, have been mired in a downtrend spiral in recent weeks, losing up to 50 per cent since record highs of mid-April. Tweets from Tesla boss Elon Musk and regulatory curbs from China have turned investors anxious. Meanwhile,… Source link

Follow us @crypto for our full coverage. Another bad week for Bitcoin could be a precursor of more pain to come, according to strategists watching the selloff in cryptocurrencies. Further weakness in its price may bring the $20,000 zone into view as a downside target, according to Oanda Corp., Evercore ISI and Tallbacken Capital Advisors LLC. Bitcoin has dropped about 7% this week and was trading at about $34,300 as of 8:12 a.m. in London. The largest cryptocurrency… Source link

The Hourly View for LTC Last Updated June 10, 2021, 07:016 GMT At the moment, Litecoin’s price is up $0.83 (0.49%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as Litecoin has now gone down 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 100 and 20 hour moving averages have been crossed, so that… Source link

Several technical analysts have commented on bitcoin’s recent moves. (Photo Illustration by … [+] Chesnot/Getty Images) Getty Images Bitcoin prices have been encountering some difficulty lately, falling more than 15% between yesterday and today amid a broader market sell-off. The world’s most prominent digital currency declined to as little as $31,035.49 this morning, CoinDesk data shows. At this point, the cryptocurrency was down roughly 15.6% from yesterday’s… Source link

It’s another bumpy day in the cryptocurrency space as headlines continue to fly and as uncertainty remains high. Ethereum is down 10.5%, while Bitcoin is off 7%. The group is suffering its worst decline since last month. Bitcoin is now testing into prior support, while Ethereum is clinging to its rising trend line. As we’ll go over in a minute, the technicals showed signs of waning momentum. However, Tuesday’s news doesn’t seem to be helping. Specifically, federal agents were able to… Source link

Topline After regulatory concerns in China crashed the market last month, cryptocurrencies plummeted again Tuesday morning after the Department of Justice said it seized $2.3 million in bitcoin as part of its investigation into a ransomware attack that shut down the nation’s largest gas pipeline, fueling concerns U.S. officials could ramp up their crypto oversight—something that’s helped spark a years-long bear market before. The market plunged more than 11% Tuesday morning. … Source link

Bitcoin was under fresh selling pressure Tuesday, dragging the world’s No. 1 crypto to lows not seen since late May. However, at least one technical analyst, says that the slump in bitcoin prices doesn’t represent a decisive breakdown of its uptrend until the asset registers weaker closes today and tomorrow. “Short-term momentum has deteriorated, but not to the degree with which we have a ‘sell’ signal (in the daily MACD),” Katie Stockton, technical analyst and… Source link