Bitcoin

I’ve never quite understood why cryptocurrencies are worth anything. Of course, the untraceable payments are worth a lot to ransomware hackers, cyber criminals and money launderers. But dollars, euros and yen are backed by nations’ respective treasuries. If someone invents a crypto currency, any value is based solely on convincing others it has value. But is it a usable means of exchange? International banking officials say cryptocurrencies such as Bitcoin are speculative assets, not… Source link

MIAMI, FLORIDA – JUNE 04: Jack Dorsey creator, co-founder, and Chairman of Twitter and co-founder & CEO of Square speaks on stage at the Bitcoin 2021 Convention, a crypto-currency conference held at the Mana Convention Center in Wynwood on June 04, 2021 in Miami, Florida. The crypto conference is expected to draw 50,000 people and runs from Friday, June 4 through June 6th. (Photo by Joe Raedle/Getty Images) Is crypto the (new) trade of our lifetime? I ask this question as the price of Bitcoin… Source link

Bitcoin pulled back on Friday after rising nearly 10% earlier this week. The cryptocurrency was trading around $32,000 at press time and is up about 2% over the past seven days. Ether, the world’s second largest cryptocurrency, is holding above $2,000 and is up about 6% over the past week.  Upside momentum is improving, which could keep crypto buyers active into the weekend. Some analysts expect a short-squeeze to push bitcoin above the 50-day moving average around $34,000 given oversold… Source link

Cryptocurrencies were mostly higher on Thursday as bullish sentiment returns. Bitcoin was trading around $32,300 at press time and is up about 1% over the past week. The price recovery off $30,000 support stalled following positive comments from Tesla’s CEO Elon Musk on Wednesday. Technicals suggest upside is limited around $34,000 resistance.  Lukas Conrad, chief product officer at Bitpanda, an Austrian financial services platform, described the trading environment across cryptocurrencies… Source link

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Follow @crypto Twitter for the latest news. The 2021 Bitcoin bubble is deflating and hitting a $1.3 trillion industry built on to-the-moon speculation and rampant leverage. Source link

Bitcoin stabilized around $29,600 at press time Tuesday after breaking below the important $30,000 level on Monday. The world’s largest cryptocurrency has been in a downtrend trend since failing to hold an all-time high around $63,000 in April. Concerns about regulatory risks, less accommodative monetary policy and fading institutional demand have contributed to selling pressure over the past few months. Edward Moya, analyst at the foreign exchange brokerage firm Oanda, described… Source link

Text size Bitcoin prices were sliding on Tuesday. Dreamstime Bitcoin is again trading below $30,000 as another cryptocurrency company runs into regulatory trouble—the latest headwind to hit the digital-asset market. New Jersey’s Bureau of Securities issued a cease-and-desist order against BlockFi, a crypto trading and lending… Source link

Text size Bitcoin fell below $30,000 late on Monday for the first time in a month. Dreamstime Bitcoin fell below $30,000 late on Monday for the first time in a month, nearly erasing its entire 2021 gain. Around 9 a.m. it was trading at $29,750, down 3% over the past 24 hours. Ether, the second most valuable cryptocurrency, was also down… Source link

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