Bitcoin, Ethereum, and other cryptocurrencies crashed on Friday after China announced a fierce clamp down on the market in its bid to fend off financial risks. The world’s biggest cryptocurrency, Bitcoin, plunged by over 11% to $37,429, while Ethereum, the world’s second-largest cryptocurrency, crashed by over 13% to $2,552. Dogecoin fell by as much as 15% to $0.34 during the trading session on Friday. READ: U.S Treasury calls for businesses to report Crypto transfers from $10,000 The crash… Source link

Ethereum, along with all other cryptos, experienced a huge sell-off in the last week. Just this month Ethereum reached over $4,300. Since then it dropped as low as $1,950 a now rests at around $2,500.  Don’t miss out on how smart money is playing the crypto game. Subscribe to our premium newsletter – Crypto Investor. The drop from its all-time high represents a 42% decrease. But why such a harsh drop? What happened to make the cryptocurrency plummet from the top? Correlation With… Source link

Watch: Bitcoin falls again as China reiterates crackdown Bitcoin (BTC-USD), ethereum (ETH-USD) and other cryptocurrencies crashed on Friday after China announced a harsh clamp down on the market.  The top crypto, bitcoin, plummeted over 11% to $37,429 (£26,428), while etherreum — the world’s second largest crypto — plunged 13% to $2,552.  Dogecoin (DOGE-USD) fell as much as 15% to $0.34 during the session. Chart: Yahoo Finance The crash was triggered by Chinese vice-premier Liu Hu saying… Source link

The second-most-popular cryptocurrency, Ether (CRYPTO:ETH), the native cryptocurrency on the Ethereum network, has been crushing Bitcoin (CRYPTO:BTC) so far in 2021 after Bitcoin’s huge run-up at the end of 2020 and earlier this year. Even after the big recent drop in crypto prices, Ethereum is still up roughly 280% year to date as of May 20, while Bitcoin is up about 43%. With the outperformance and the recent dip, I think now could be an opportune… Source link

Coinciding with news that United States President Joe Biden’s proposed tax plan would require tax reporting on business transactions exceeding $10,000, the value of privacy coin Monero (XMR) climbed 31% on Friday. Biden’s American Families tax plan would require exchanges and custodians to implement tighter reporting measures to help detect tax evasion and money laundering. Banks and financial institutions would also be required to report account inflow/outflow information to the Internal… Source link

If last week brought out investors’ desires in going green with their cryptocurrencies, this week is accompanying that desire with a need for privacy. The recent news from President Joe Biden’s administration over crypto is making investors turn toward secure, private crypto plays. Monero (CCC:XMR-USD) offers just that, and as such, investors want to see some Monero (XMR) price predictions. Source: Shutterstock Monero is one of the oldest blockchain plays on the market,… Source link

Monero price was not spared in the recent crypto sell-off. The privacy-focused coin dropped to $172 on Wednesday as the overall crypto-sell-off continued. The coin’s price has bounced back in line with that of other coins. It is trading at $295, which is about 72% above the lowest level on Wednesday. It has a market cap of more than $5.2 billion. The background: Cryptocurrencies are highly correlated currencies. When the biggest coins rise, the rest tends to… Source link

Ethereum Ethereum rallied by 11.55% on Thursday. Partially reversing a 27.63% tumble from Wednesday, Ethereum ended the day at $2,775.07. A mixed start to the day saw Ethereum fall to an early morning intraday low $2,156.00 before making a move. Steering clear of the first major support level at $1,748, Ethereum rallied to an early afternoon intraday high $2,999.99. While falling short of the first major resistance level at $3,293, Ethereum broke back through the 38.2% FIB of $2,740. A late… Source link

Bitcoin has had better days.  Getty Images Bitcoin, Dogecoin, Ethereum and seemingly every… Source link

Bitcoin’s (BTC-USD) price plunged 28% this week, this most recent meltdown spurred by an announcement from China and an Elon Musk tweet. The controversial crypto is now losing even more love on Wall Street a day after UBS’s CIO Mark Haefele questioned the need to own bitcoin in a portfolio. In a note published Thursday, Deutsche Bank analysts joined the conversation with a research note entitled “Bitcoin: Trendy is the last stage before tacky,” quoting the late fashion icon Karl… Source link