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WEST PALM BEACH, Fla. — The cryptocurrency crash is currently separating faithful followers from ambitious investors. Bitcoin — crypto’s most stable coin — has dropped substantially from its highest value of $67,000 in November 2021. Bitcoin plunged to $25,000 Thursday but had rebounded to more than $28,000 by the afternoon. Cryptocurrency’s volatility has been something that financial experts have warned about for many years. RELATED: Crypto mining 101: How are people making money from… Source link

Ether (ETH) is down 38% in three weeks and the current $2,000 level is 59% below the $4,870 all-time high that was reached in November 2021. Additional newsflow that added to the current market wide volatility were the bankruptcy fears that emerged after Coinbase, the largest U.S. exchange reported a $430 million first-quarter 2022 loss.  In the most recent 10-Q filing Coinbase included the following disclosure: “In the event of a bankruptcy, the crypto assets we hold on behalf of our… Source link

Avi Rozen/iStock Editorial via Getty Images I’ll start this off by addressing the elephant in the room. This is not fun. Pure and simple. And I’ve been wrong on every bullish Bitcoin (BTC-USD) article this year. Not only are we witnessing the return of wild volatility to the downside in the cryptocurrency market, but we’re seeing just how dependent on low rates and easing the broader financial system really is. Everything seems to be the same trade at this point. You’re either long dollars… Source link

As governments in the region closely watch El Salvador’s experiment, and a second nation, the Central African Republic, follows suit with Bitcoin adoption, Bukele’s difficulties suggest that efforts to transition whole nations to cryptocurrencies are fraught with pitfalls. “Nothing positive has happened,” said Ezequiel Milla, former mayor of La Union, speaking near the base of a volcano on the country’s east coast that Bukele plans to use for geothermal-powered Bitcoin mining. The… Source link

In yesterday’s article on Bitcoin BTC/USD, I highlighted a support level where the price is trading around that has the potential to end its decline and encourage a reversal back to the upside. The price, as of Thursday, trading below this level, but only just. I tend to look at these levels as zonal areas instead of hard levels. We will get a better idea if this level holds firm by the end of this week, or even the end of May, once we have confirmed closing prices. Fake breakouts are… Source link

Each cryptocurrency project is powered by a native token that powers its virtual economy. Frequently, a project’s chances are dependent on the success of its native token. One may readily monitor a project’s development by watching its price movement. Top-tier blockchain-based projects such as Binance Coin (BNB) and Litecoin (LTC) have constantly grown in community size and token value, establishing themselves as market leaders in the decentralised… Source link

What happened The crypto sell-off continued today, as investors continued to shun riskier assets amid high levels of inflation and the Federal Reserve’s ongoing tightening of its monetary policy. The entire cryptocurrency market recently lost $200 billion in a single day. Over the last 24 hours, the price of the world’s largest cryptocurrency, Bitcoin (BTC -2.04%), traded down roughly 2.5% as of 12:57 p.m. ET. The price of Bitcoin is currently hovering below $30,000. The… Source link

Colorado Springs is responsible for identifying a site for a passenger rail station that would serve Amtrak and intercity commuter trains, and the staff has narrowed the options down to four sites in the downtown area. You voted: Source link

Bitcoin and other cryptocurrencies have crashed further as a massive sell-off continues to roil the cryptocurrency market. The price of bitcoin was around $28,000 on Thursday, down about 7 percent over the last 24 hours, according to data from CoinGecko. Both bitcoin and its rival, ethereum, are down about 30 percent in the past seven days. Ethereum was trading at about $1,908 on Thursday, down about 18 percent over the last 24 hours. This comes after the TerraUSD stablecoin, also known as… Source link

HONG KONG / LONDON, May 12 (Reuters) – The meltdown in TerraUSD, one of the world’s largest stablecoins, sent shockwaves through cryptocurrency markets on Thursday, pushing another stablecoin Tether below its dollar peg and sending bitcoin to 16-month lows. Cryptocurrencies have been swept up in a sell-off across higher risk assets, which has picked up steam this week as data showed U.S. inflation running hot, deepening investor fears about the economic impact of aggressive central bank… Source link