Bitcoin

After a lackluster start to the week, stocks are struggling for gains, though beaten-down technology names have perked up. While the Nasdaq Composite COMP, -0.56% has lost 4% this month, tied to inflation worries, it has been even more brutal for some cryptocurrencies, such as bitcoin BTCUSD, -0.61%, down 20% this month. Bitcoin has sunk 30% below an all-time high of $64,829 reached in April, after Tesla TSLA, +0.18% … Source link

Here’s why Bitcoin’s price has fallen and what it means for you as an investor. The world’s largest digital currency has fallen 18% this week. Bitcoin fell to $42,207 yesterday, the lowest it’s been since Feb. 8. According to data from CoinMarketCap, it then rallied and finished the day at around $43,500. What’s behind Bitcoin’s low? There were several factors behind Bitcoin’s fall, but the confusion caused by Tesla CEO Elon Musk’s tweets had a considerable impact. Elon Musk tweets Bitcoin’s… Source link

Bitcoin inflows to cryptocurrency exchanges surged on Monday by the most in 15 months, blockchain data shows, in what might be a sign of more retail traders looking to liquidate their holdings in a falling market. Crypto exchanges registered a net inflow of 30,749.89 BTC on Monday, according to the data provider Glassnode. That was the biggest single-day tally since March 12, 2020, when the bitcoin price tanked by 40% amid coronavirus-induced panic selling in the global financial markets –… Source link

Some Bitcoin watchers on Wall Street see more losses ahead for the world’s largest cryptocurrency. A cohort of chart watchers on Wall Street say Bitcoin’s deepest selloff since crypto mania kicked off last year looks set to intensify. Evercore ISI’s Rich Ross reckons prices are destined to fall back to the 200-day moving average, following a path of other speculative assets, which would put Bitcoin back at $40,000 compared with just under $44,000 currently. Others are watching for a… Source link

Bloomberg China Puts Australia on Notice With Push to Diversify Iron Ore (Bloomberg) — Beijing threw the spotlight on trade tensions with its top commodities supplier, Australia, after the government’s economic planning agency said it’s looking to diversify China’s supply of iron ore.Chinese firms should boost domestic exploration for the steel-making input, widen their sources of imports, and explore overseas ore resources, the National Development and Reform Commission said at its… Source link

Bitcoin has bounced off the $42,000 level twice today. (Photo by Yuriko Nakao/Getty Images) Getty Images Bitcoin prices have been suffering lately, falling to almost $42,000 today and reaching their lowest in more than three months. The world’s largest digital currency by market capitalization dropped to as little as $42,102.35 this afternoon, according to CoinDesk data. At this point, the cryptocurrency was trading at its lowest since February 8, additional CoinDesk… Source link

Customers inside the Mile Castle pub in Newcastle as indoor hospitality and entertainment venues reopen today Photograph: Owen Humphreys/PA Shares in UK hospitality and travel-focused companies have dipped today, as people are urged to be cautious as pandemic restrictions are lifted. Restaurant Group, which owns Wagamama and Frankie & Benny’s, has fallen by 5% so far today, while food operator SSP Group (who run Upper Crust and Ritazza outlets at airports and… Source link

Bitcoin slipped to 3.5-month lows early Monday, confirming the biggest price pullback of the current bull run.  The top cryptocurrency printed a low of $42,212 during the Asian hours, the level last seen on Feb. 8, marking a 35% drop from the record high of $64,880 reached on April 14, according to CoinDesk 20 data.  The bitcoin (BTC) price has seen four corrections from new price highs so far this year, out of which the latest 35% retreat is the biggest. Chart analysts had warned of a… Source link

BERLIN, GERMANY DECEMBER 01: SpaceX owner and Tesla CEO Elon Musk poses on the red carpet of the … [+] Axel Springer Award 2020 on December 01, 2020 in Berlin, Germany. (Photo by Hannibal Hanschke-Pool/Getty Images) Getty Images Like plucking the petals off a tulip, Elon Musk seems to be on a one-man mission to bring down Bitcoin. We’ll guess at why he’s doing it in a minute. Let’s first focus on what he’s doing and what it means for Bitcoin. The current drama… Source link

Cryptocurrencies such as bitcoin, ether and dogecoin have surged to highs that few investors would have predicted a year ago. The furious run has even the most optimistic traders asking: Can it last? The forces underpinning the crypto mania mirror those that saw GameStop Corp. shares tear higher earlier this year. Excess money from stimulus checks aimed at helping the most vulnerable make rent has also found its way to brokerage accounts that offer free trading. Meanwhile, people globally… Source link