Bitcoin

Photographer: Andrey Rudakov/Bloomberg Photographer: Andrey Rudakov/Bloomberg Bitcoin fell amid a wider retreat in assets that had earlier ridden a wave of stimulus-infused optimism among retail traders. The largest cryptocurrency dipped 2% to about $52,850, a two-week low, as of 7:23 a.m. in London. The token is mired in its longest… Source link

They call it “max pain” in the bitcoin options market: How to make one’s trading counterparty suffer the most.  Although the largest cryptocurrency was changing hands Wednesday around $56,500, traders were handicapping the odds of a plunge to about $44,000 by Friday, when a record $6 billion of options contracts is set to expire.  A drop to that price level would inflict “max pain” on buyers of options contracts, and it might be the most profitable price point for options sellers…. Source link

Investors who have owned stocks in the last year have generally experienced some big gains. In fact, the SPDR S&P 500 (NYSE: SPY) total return over the last 12 months is 74.3%. But there is no question some investments performed better than others along the way. Bitcoin’s Big Run: As strong as the stock market has been since it bottomed on March 23, 2020, Bitcoin (CRYPTO:BTC) has been much stronger. After a wild ride that took Bitcoin prices near $20,000 in late 2017, the previous Bitcoin… Source link

Bloomberg Biden’s Likely Tax Wins Are Personal-Rate Hikes, Audits of Rich (Bloomberg) — Democrats will likely prove successful in raising individual income tax rates and in strengthening audits of wealthy Americans as they work on overhauling the U.S. tax code in coming months.That’s a key takeaway from a survey of 15 current and former White House and congressional aides specializing in tax policy completed by Bloomberg this month. A tax on unrealized capital gains, as envisioned by… Source link

Tesla TSLA chief executive Elon Musk—whose tweets regularly move the bitcoin price (as well as other cryptocurrencies)—has revealed people can now buy a Tesla car with bitcoin. In a series of tweets, Musk said that bitcoin paid to Tesla will be retained as the cryptocurrency and not converted back to dollars, adding to Tesla’s $1.5 billion worth of bitcoin it bought last month. MORE FROM FORBESTesla Billionaire And Bitcoin Bull Elon Musk Is Actually The ‘Answer’ To Climate… Source link

Three diagonal digital chains on a blue background. Blockchain technology concept. Mining and … [+] cryptocurrency. Close up. 3d rendering getty A cryptocurrency is a software object with units or “tokens” that can be transferred securely and verifiably from one owner to another. Transactions are recorded in a public, widely distributed database (a “blockchain”). The transfer verification mechanism is cryptographic. It employs a mathematical protocol… Source link

Bitcoin has soared more than 700% in a year Dado Ruvic/Getty Images Bitcoin conditions are “similar to the second half or later stages of a bull market,” crypto analysts said. Glassnode’s report pointed to signs of long-term holders spending coins and a reduction in big wallets. Talk of a bitcoin price plunge has grown, with a crypto entrepreneur saying there could be a 90% drop. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Bitcoin may be entering the second… Source link

Bitcoin is dividing opinion on Wall Street, with a rush of investment banks expressing widely divergent views on the cryptocurrency boom. The digital currency soared 300 per cent last year, and has roughly doubled in the opening weeks of 2021, taking its value to about $60,000. With an estimated 18.7m coins in circulation, that takes the overall value of the market to roughly $1.1tn — too big for investment banks to ignore. But the extra scrutiny from professional analysts… Source link

Despite predicting that Bitcoin price will rise to $300,000 in the current bull market, Bobby Lee, founder of BTCC exchange, believes that crypto markets could spend years in decline after the market reaches its peak. What Happened: “Bitcoin bull market cycles come every four years and this is a big one,” said Lee who co-founded UK-based cryptocurrency exchange BTCC in an interview with CNBC earlier today. According to him, the market-leading cryptocurrency is likely to reach $100,000 this… Source link

Dado Ruvic/Reuters Bitcoin could surge to $300,000, but the bubble is likely to pop dramatically, Bobby Lee said. The founder of the BTCC exchange said the price of bitcoin could fall as much as 90% from its peak. Bitcoin has risen by about 800% in a year, to roughly $58,000 in the latest bull-market cycle. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. The bitcoin price could surge as high as $300,000 in the latest bull-market rally but then plunge 90% into… Source link