Tag Archives: Bitcoin

Bitcoin (BTC-USD) fell more than 11% Tuesday morning after China ramped up its crackdown on cryptocurrency mining. The cryptocurrency, which in April had risen higher than $60,000, plunged to a value of under $30,000 and saw all 2021 gains disappear. It rose back up a little past $30,000 later in the morning but remained down several points from the day before. The dramatic fall comes as China has taken steps to further restrict Bitcoin mining and trading within its territory. China released a… Source link

A regional deputy belonging to an opposition party in El Salvador and a group of citizens have sued the government over the country’s new bitcoin law, calling it unconstitutional. According to a report on Tuesday by Spain’s second-largest newspaper, El Mundo, Jaime Guevara of the Farabundo Marti National Liberation Front (FMNL) has joined a group of citizens to oppose the law. FMNL is one of the country’s two major political parties, and Guevara is the deputy of Morazán, a province in… Source link

Banco Bilbao (BBVA) has launched a Bitcoin trading service, following six months of testing with a select group of users. The new service will be available only in Switzerland and will target private banking clients exclusively. The financial services company is limiting the service to Switzerland, given the clear regulation and widespread crypto adoption in the European nation. The new service will include trading of Bitcoin and custody services. Additionally, the Bitcoin management system… Source link

Bloomberg Cathie Wood Inspires Boom in New Funds That Upend ETF Order (Bloomberg) — Not so long ago, actively managed ETFs were rare. Now they’re being created at twice the rate of their passive rivals.Inspired by the success of Cathie Wood’s ARK Innovation ETF (ticker ARKK), exchange-traded fund issuers have this year launched 115 active products versus just 51 passive funds, according to data compiled by Bloomberg.That’s the first time active launches have ever outstripped passive,… Source link

Bitcoin declined about 5% over the past 24-hours as the price broke below $36,000 support. The world’s largest cryptocurrency by market capitalization is still up about 23% year-to-date, although some traders are concerned about the looming ‘death cross,’ which could indicate a shift from a bullish to bearish price trend. The death-cross is defined by a cross of the 50-day moving average below the 200-day moving average, which could occur over the weekend. Still, some analysts remain… Source link

Bitcoin enthusiasts at El Zonte Beach in Chiltiupan, El Salvador. Photo: Jose Cabezas/Reuters The price of bitcoin (BTC-USD) hovered just below $40,000 (£28,633) on Thursday as the World Bank rejected a request from El Salvador to help with the implementation of the cryptocurrency as a legal tender. The bank said it could not assist El Salvador’s implementation of bitcoin due to the environmental impact of bitcoin mining, and transparency drawbacks. It comes as research from the Financial… Source link

Elon Musk is once again messing with his favorite toy – the crypto market. Bitcoin has resumed its upwards curve which has been partly attributed to Musk saying Tesla will once again accept BTC as a payment method should miners use enough clean energy in their search for new bitcoins. The news sent BTC-related stocks higher, including shares of MicroStrategy (MSTR). Musk’s power is such that he might be able to move the crypto market with a single tweet but if he remains undecided about… Source link

(Bloomberg) — U.S. regulators have once again punted their decision on whether to approve a Bitcoin ETF. The Securities and Exchange Commission said in a Wednesday regulatory filing that it will seek more public comment on a proposal to list a product on Cboe Global Markets Inc. It’s not the first time this year that the SEC has delayed giving an answer to the legions of crypto advocates pushing for a way to trade the largest cryptocurrency in an exchange-traded fund format. Crypto… Source link

Former “The Bachelor” star Matt James has a piece of advice for Chris Harrison, former host of “The Bachelor”: “Buy bitcoin.” The embattled host received a reported $25 million exit package after leaving the show amid a racism controversy. “The smartest thing that could be done with any of the payout would be to buy as much bitcoin as possible,” James told Yahoo Finance. “Because right now, it’s at an all-time low if you’re looking at the past few months.”  James said he sees an… Source link

As bitcoin (BTC-USD) holds above $40,000, investors are laser-focused on the price gyrations, attempting to divine the next big move. One former trader at the New York Stock Exchange is demonstrating how technical analysis is ideally suited to analyzing and predicting cryptocurrency price movements. At a recent Yahoo Finance Plus webinar, Capital2Markets president Keith Bliss, explained to attendees that bitcoin and other cryptocurrencies don’t lend themselves to traditional fundamental… Source link