Bitcoin

While bitcoin seems to have found a bottom, a quick rally to record highs looks unlikely, analysts told CoinDesk on Wednesday, saying the cryptocurrency now faces price consolidation. “Bitcoin looks to have bottomed out, having digested most negative news during the recent sell-off from $41,000 to $29,000,” trader and analyst Alex Kruger said. Prices topped $41,000 early last week before turning south in the latter half after the Federal Reserve’s unexpected hawkish tilt on interest… Source link

The digital currency has jumped 5.4% over the last 24 hours, reaching $34,368 per coin, according to CoinDesk. The cryptocurrency has lost almost half its value since it hit an all-time high in April. Other currencies have experienced similar price swings. Ethereum and dogecoin each rebounded about 4.8% and 8.9% respectively on Wednesday, after getting caught in the selloff earlier this week. The value of crypto has seesawed dramatically this year for a range of reasons, including concerns… Source link

Coinbase fell 2% Tuesday and is now trading at about $217 — not far from its all-time low and a far cry from its peak price of about $429.50. It’s been just two months since Coinbase went public via a direct listing of its stock. Needless to say, the timing has been terrible. Coinbase shares are down more than 35% from the closing price on its first day of trading. Bitcoin has suffered a more than 50% drop during that time frame. While many Coinbase bulls argued the company would be immune… Source link

Text size Dreamstime Bitcoin tanked earlier today and took some key players with it before rebounding. Bitcoin fell below $30,000 Tuesday morning, sliding to a low of $28,814.75 within the past 24 hours. It’s the first time the crypto has dipped below $30,000 since Jan. 28. The price rebounded towards the latter part of the day and clocked… Source link

Text size A banner at the Bitcoin 2021 Convention in Miami earlier this month. (Photo by Marco BELLO / AFP) AFP via Getty Images Bitcoin fell below $30,000 on Tuesday for the first time since Jan. 28, as China expanded its crackdown on cryptocurrency mining and banking. As of 9:20 a.m. Eastern time, Bitcoin was trading at $29,625,… Source link

Cryptocurrencies gyrated sharply Tuesday, extending a recent run of wild swings. For the first time since January, bitcoin —  the world’s most popular digital coin — briefly dropped below $30,000, a key level that technical analysts monitor. It erased its gains for 2021 before recovering to trade at $32,481.93, according to CoinGecko, a crypto market data site.  Bitcoin at one point shed more than 10% to trade as low as $29,154.73, losing more than half its value since hitting a… Source link

Photo illustration by Edward Smith/Getty Images Getty Images Text size Bitcoin had a rocky weekend. Blame hash rates and death crosses. Since Friday, Bitcoin has dropped about $3,000, or almost 9%, to about $32,500. Bitcoin traded below that level on June 9, but it hasn’t closed below $33,000 since January. … Source link

Bitcoin (BTC) decreased considerably last week, approaching the May lows near $30,000. While a short-term bounce could occur, it seems that both the daily and weekly trends are bearish. Long-term bitcoin movement The weekly BTC chart provides a bearish picture. Bitcoin appeared to have begun a bullish movement two weeks ago after creating a bullish hammer candlestick with a long lower wick. The bounce occurred right at the $32,500 long-term horizontal support area (green icon). However, it… Source link