Bitcoin

Bitcoin, the world’s biggest and best-known cryptocurrency, was up more than 16% from this year’s low of $17,592.78 on June 18, when it tumbled on investor worries about growing troubles in the crypto industry and amid a general pull-back from riskier assets. The coin’s price retreated a bit Sunday evening to $19,781.69, according to Coinmarketcap. Andrew Brenner, head of international fixed income at National Alliance Securities, on Sunday said the rise in Bitcoin was likely the result of… Source link

Ether, the second largest crypto by market cap, followed a similar price pattern, tumbling to an almost five-year low below $1,000 before rising late in the weekend. It was recently changing hands at about $1,120, up more than 13% from the previous day. Other major altcoins were well into the green with LTC and AXS up more than 17% at one point. Source link

The president of El Salvador has some advice for bitcoin investors. He believes investments in the largest cryptocurrency are safe and will “immensely grow” after the bear market. El Salvador’s President on Bitcoin Investments The president of El Salvador, Nayib Bukele, has spoken up about bitcoin investments amid BTC’s heavy sell-off. El Salvador has purchased 2,301 bitcoins since the country made BTC legal tender alongside the U.S. dollar in September last year. With the… Source link

Data shows the Bitcoin mining hashrate has already plunged down since the new all-time high as the crypto’s price has continued to struggle. Bitcoin Weekly Hashrate Sharply Trends Downward The “mining hashrate” is an indicator that measures the total amount of computing power connected to the BTC network. When the value of this metric rises, it means more mining rigs are coming online right now. Such a trend may suggest that miners are finding the network… Source link

Bitcoin further sank to about $17,750 for the first time since December 2020 Saturday afternoon, as the selloff in the crypto market intensifies. Bitcoin’s price is still falling steadily and is currently testing the 2017 all-time high range of $17,000 to $20,000. However, the descent shows no indication of abating, and analysts are  are not quite sure to call a bottom at this time. The following hour, Ethereum followed suit and went below $1,000. These numbers were feared as crucial… Source link

The host of Mad Money, Jim Cramer, has predicted that bitcoin’s price will fall to $12,000. Nonetheless, he has recommended bitcoin and ether for people wanting to invest in crypto. Jim Cramer’s Bitcoin Price Prediction Jim Cramer, the host of Mad Money, talked about the future outlook for bitcoin on CNBC Friday. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website. He was asked whether he thinks bitcoin is going to bounce from… Source link

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

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

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