Bitcoin

A fresh record high for bitcoin is going to have to wait, if it comes at all. Bitcoin prices BTCUSD, -0.83% BTCUSD, -0.83% on Friday were being pummeled, pushing the cryptocurrency into correction territory, commonly defined as a decline in an asset from a recent peak of at least 10%. At last check, Bitcoins changed hands on CoinDesk, down 2.4%, at $16,714, representing a more than 14% decline from its 52-week peak… Source link

This entire article is Saifedean’s fault.  Saifedean Ammous, author of “The Bitcoin Standard,” kept heaping steak tartare onto my plate at a Bitcoin meetup back in August 2018, in between jokes about liberal plebs.   As the youngest woman in the room, per usual, I wanted acceptance from the Bitcoin clan. Despite nearly a decade of (fickle) vegetarianism, I accepted the author’s meat offerings in exchange for an off-the-record interview. I torpedoed questions his way between bites…. Source link

A chain of block erupters used for Bitcoin mining is pictured at the Plug and Play Tech Center in Sunnyvale, California, October 28, 2013. REUTERS/Stephen Lam Bitcoin slumped further through the Thanksgiving holiday as intense profit-taking dragged on prices. The world’s most popular cryptocurrency tumbled as much as 5.9%, to $16,242.70, over the last 24 hours. The slump is bitcoin’s biggest since the coronavirus pandemic slammed markets in March and reverses the weeks-long rally… Source link

Bitcoin (BTC) continues to convert some of its harshest traditional critics from mainstream finance as Bloomberg admits that this bull run is nothing like 2017.  In an article on Nov. 27, the publication known for its pessimism highlighted a range of Bitcoin metrics pointing to a bullish future — despite Thursday’s $3,000 price rout. Bloomberg: Bitcoin market “far more liquid” Included as evidence were record-high Bitcoin futures open interest, non-zero wallet numbers, hash rate and… Source link

REUTERS/Fred Prouser Nouriel Roubini, known as “Dr. Doom” for his bearish views, slammed Bitcoin for being heavily manipulated and blamed retail investor FOMO for this week’s boom and bust on Twitter on Thursday. Roubini tweeted the digital token has no role to play in the portfolios of retail or institutional investors because it has zero intrinsic value. “Retail suckers with massive FOMO have been jumping again into BTC as they did in late 2017 when price went from 10K to 19K… Source link

The price of Bitcoin (BTC) dropped below $16,900 again on Nov. 27 across top exchanges, including Binance. The recent pullback comes as whale exchange deposits started to increase. Ki Young Ju, the CEO of CryptoQuant, reported that the All Exchange Inflows Mean indicator reached the “danger zone.” Historically, this caused BTC to suffer short-term corrections. Bitcoin struggles to regain momentum above $17,000 After the price of Bitcoin briefly dropped to $16,200 on Nov. 27, it started to… Source link

New data suggests that “wholecoiners” — Bitcoin wallets holding 1 BTC or more — now account for 95% of the cryptocurrency’s entire capitalization. That leaves just 5% of the market cap divided among tens of millions of users with a balance below 1BTC. The total number of wholecoiner addresses has steadily increased year-over-year since 2009, despite BTC’s astronomic price rallies. On Nov. 27, Glassnode CTO Rafael Shultze-Kraft tweeted a chart revealing that more than 800,000… Source link

Bitcoin slumped as much as 13 per cent on Thursday after surging to an all-time record in the previous session — a blow to the view that the latest rally is built on long-term foundations, but seen by some analysts as a short-term “correction”. The exchange rate reached slightly less than $16,320 in morning trading in London, less than 24 hours after hitting a record high of $19,510. Bitcoin has risen about 50 per cent in the past three months, and about 140 per cent… Source link

Bitcoin suffered a price crash earlier on Thursday, having missed record highs by a narrow margin earlier this week. The top cryptocurrency by market value fell from over $19,300 to $16,327 during the early European trading hours and was last seen trading near $17,200, representing a 10% drop on a 24-hour basis, according to CoinDesk 20 data. The sudden fall caught many traders off-guard, given the cryptocurrency was trading just 2% short of its record high of $19,783 on Wednesday. So,… Source link

Reuters/Lucas Jackson Bitcoin fell over 10% on Thursday as cryptocurrency traders cashed in on their Bitcoin holdings that have gained 20% in value this month alone.  The digital token looked set to hit a record high of $20,000 this week. After such a swift rally, traders said a number of large investors booked profits on their holdings — many of which may have been moved to exchanges to secure a better price. “It feels more and more like we’re hitting a Bitcoin tipping point,” a… Source link