Bitcoin

Bloomberg Tencent Shares Drop After Approaching $1 Trillion Valuation (Bloomberg) — Tencent Holdings Ltd. fell Tuesday, after a world-beating surge in the stock pushed its market value to the cusp of $1 trillion for the first time.The Chinese Internet behemoth lost as much as 5.1% in Hong Kong, its biggest decline in a month, putting its market capitalization at $900 billion. Its shares surged 11% Monday, Tencent’s best gain since 2011. There were few obvious catalysts for a rally of that… Source link

Some bitcoin investors appear to be buying in around $30,000 and taking profits at $40,000, according to one analyst. Meanwhile, ether’s spot market is decoupling from bitcoin and gyrating wildly, according to volatility metrics. Bitcoin (BTC) trading around $32,963 as of 21:15 UTC (4:15 p.m. ET). Gaining 3.5% over the previous 24 hours. Bitcoin’s 24-hour range: $31,650-$34,893 (CoinDesk 20) BTC above the 10-hour and the 50-hour moving averages on the hourly chart, a bullish signal for… Source link

Bitcoin’s options market continues to grow along with an institutional-led bull run in the leading cryptocurrency. Yet, while many use options to hedge their positions, the large amounts of bitcoin options slated to expire in a few days may themselves lead to wild price swings as January draws to a close.  At press time, there are 120,300 contracts worth $4 billion set to expire this Friday on major exchanges Deribit, CME, Bakkt, OKEx, LedgerX, according to data source Skew. Much of that… Source link

In financial markets filled to the brim with froth, one of the more speculative corners is showing signs of bubbling yet again. Bitcoin rebounded from its sharp sell off last week which saw prices plunge more than 12%, the steepest weekly drop since last March. The digital asset bounced back from below $30,000 Friday to trade around $34,400 as of 10:22 a.m. Monday in New York. “It’s a little bit like the tulip mania where people are putting a price on it and the next person puts a higher… Source link

The last 11 months have been marked by unprecedented volatility and uncertainty for the stock market. The benchmark S&P 500 set a record for both the steepest bear market decline and quickest bounce-back rally to new highs from a bear market low in 2020. However, one asset has been largely unfazed by this uncertainty: bitcoin. Image source: Getty Images. Bitcoin euphoria has pushed it to record heights The world’s largest cryptocurrency had nearly quadrupled on a trailing-year… Source link

Bitcoin Bitcoin, BTC to USD, slid by 9.97% in the week ending 24th January. Following on from a 6.02% decline from the previous week, Bitcoin ended the week at $32,320.0. A mixed start to the week saw Bitcoin rise to a Tuesday intraweek high $37,936.6 before hitting reverse. Falling well short of the first major resistance level at $40,389, Bitcoin slid to a Friday intraweek low $28,989.0. The sell-off saw Bitcoin fall through the 23.6% FIB of $33,008 and the first major support level at… Source link

Maybe it’s just that winter is dragging on, but I find myself getting increasingly irritated with mainstream reports about Bitcoin that say it was a result of the financial crisis.  It wasn’t, and that matters. First, let’s look at why it wasn’t, and then I’ll explain why this misunderstanding bothers me. Bitcoin’s pseudonymous creator Satoshi Nakamoto started working on the Bitcoin white paper in early 2007, over a year before the financial crisis hit mainstream markets. In early… Source link

A small toy figure and representations of the virtual currency Bitcoin stand on a motherboard in this picture illustration Reuters Bitcoin fell back below the $32,000 support level on Sunday as the cryptocurrency’s trading range narrowed further. The token has steadily fallen from its early-January highs as experts warn of a market bubble and investors secure profits. Still, prices sit roughly 11% higher year-to-date and some analysts expect the cooling volatility to… Source link

Until recently, as an investment, bitcoin has had unique and pronounced risks, but that’s changing, with new rules and regulations that have spurred wider institutional adoption. Throughout its 12-year history, the world’s most valuable cryptocurrency has faced extreme volatility, with prices rising and falling as much as 10% on any given day — reaching an all-time high of more than $41,000 earlier this month. Beyond wild price swings, bitcoin also has structural issues that most asset… Source link

Despite a tumultuous 2020, one investment stood head and shoulders above all others: bitcoin. The largest cryptocurrency in the world by market cap has more than quadrupled in value over the trailing-12-month period through Jan. 17. It’s up a cool 9,310% over the trailing five years. Bitcoin blows pretty much all other equity investments out of the water, in terms of total return, since the beginning of 2016. Bitcoin enthusiasts continue to point to its scarcity — a maximum of 21… Source link