Bitcoin

Bitcoin prices are on track for a record second-quarter percentage decline, weighed down by China’s crackdown, concerns the U.S. Federal Reserve will start tapering its stimulus program and persistent demand for downside hedges. The leading cryptocurrency was trading near $34,824 at 10:39 UTC on Wednesday (6:39 a.m. Eastern time), down almost 41% for the April to June period. The drop snaps a four-quarter winning streak that saw prices chart a sixfold rise to almost $60,000, according to… Source link

‘If we compare today to the April highs, we can say with absolute certainty that the hype has left the market,’ said one analyst. Cryptocurrencies were recovering slowly but steadily from an earlier sell-off but are once again down on Wednesday, with bitcoin’s price quite a distance from its all-time high of $63,000 (£45,552) in April. Bitcoin (BTC-USD) fell 0.7%, trading at $34,891 on Wednesday morning. “If we compare today to the April highs, we can say with absolute certainty that the… Source link

Bitcoin traded higher on Tuesday, rising about 6% over the past 24 hours. Cryptocurrencies are in relief mode as selling pressure from May stabilizes in a tight range between $30,000 and $40,000. Traders are watching for signs of capitulation as bitcoin appears to be oversold and shorts unwind positions. Crypto markets have been resilient despite regulatory crackdowns in China and the U.K. On Monday, Reuters reported that several companies have abandoned their efforts to register with the… Source link

By Analytics Team, Giottus Cryptocurrency Exchange The past week has been a volatile one for the crypto market as Bitcoin (BTC) dropped from $36,000 levels to $29,000 mid-week before regaining most of the losses later. BTC was trading at $31,000-32,000 – a key support range that can determine the next few weeks of activity in the cryptocurrency market. Most altcoins followed BTC through the week with no standalone breakout. In this volatile scenario, traders are likely to avoid leveraged… Source link

Bitcoin traded lower on Friday as the price struggled near the $35,000 resistance level. The cryptocurrency was trading around $32,000 at press time and is down about 8% over the past 24 hours. Some analysts expect continued weakness into the weekend as a volatile month nears its end.  Latest prices S&P 500: 4280.7, +0.33% Gold: $1779.2, +0.22% 10-year Treasury yield closed at 1.531%, compared with 1.492% on Thursday Traders whipsawed Ongoing concerns about regulatory crackdowns and… Source link

After China announced that it would begin ramping up its efforts to restrict the mining of cryptocurrency, the price of bitcoin (BTC-USD) fell to below $30,000 earlier this week, trading at a value not seen since the turn of the new year. The cryptocurrency has since rebounded slightly, now holding at a level just above $32,000. Though the news and subsequent crash may have caused short term headaches in the crypto market, China’s crackdown on mining may actually benefit crypto in the long… Source link

Illustration by Sjoerd van Leeuwen Text size Canada is planting 30 million trees this season. The purpose is to build a powerful carbon sink. Carbon is not the only thing that modernity produces in excess. There is a surfeit of capital. Absorbing it has become a major challenge and threatens financial stability…. Source link

China’s relationship with bitcoin has long been defined by regulations. As news of the country’s latest restrictions once again dominates headlines, it’s important to put the new regulations in the context of past ones. China’s first major crypto statute came in 2013, when the government recognized bitcoin as virtual property but banned it as a medium of transaction. In 2017, China’s central bank declared initial coin offerings (ICO) illegal, causing bitcoin’s value to temporarily… Source link

Stocks are set to continue inching higher on Thursday, as markets relax about inflation risks and exact details of what’s coming from the U.S. Federal Reserve.  The cryptocurrency market is down significantly on the week, having lost $1 trillion of market capitalization from its peak of $2.5 trillion in early May, said a group of analysts led by Nikolaos Panigirtzoglou at investment bank JPMorgan JPM, +0.19%.   Panigirtzoglou and his team have our call of… Source link

Cryptocurrencies were slightly higher on Wednesday as traders grappled with the likelihood of more regulation. Bitcoin is up about 1.9% over the past 24 hours, giving up about half of Tuesday’s relief rally, suggesting that buyers are starting to take profits.  “It’s too early to tell if this is ‘the’ bottom or just a temporary floor before more downside. The lack of any upside catalyst (beside some contrarian oversold metrics) remains the biggest hurdle for cryptos to bounce… Source link