Tag Archives: Bitcoin

Bloomberg King of LNG Undercuts Rivals to Keep Dominating World Market (Bloomberg) — The world’s top exporter of liquefied natural gas is ramping up production dramatically and undercutting competitors in a bid to squeeze them out of the market.Qatar is dropping prices and pushing ahead with a $29 billion project to boost its exports of the fuel by more than 50%, stymieing the prospects of new plants elsewhere. It’s also established a trading team to compete in the nascent spot market and… Source link

Bitcoin’s (BTC-USD) price continued its free fall on Wednesday morning, down 15% to about $37,000 per coin by noon EDT. The cryptocurrency has dropped nearly 40% since Tesla (TSLA) CEO Elon Musk first bashed the fossil fuel emissions from bitcoin’s mining process a week ago. “I believe what he said will be a changing point for the way bitcoin is perceived. He is casting a spotlight on energy use for … bitcoin, which is relevant. And it is making companies such as ourselves more… Source link

Bloomberg Intesa, UniCredit Head for Reckoning as Loan Holidays End (Bloomberg) — Banks in Europe’s vulnerable south are about to find out the true scale of the damage to their loan books from the pandemic’s economic turmoil.Hundreds of thousands of companies and households in nations including Italy and Portugal are resuming loan interest payments that were frozen when lock-downs threatened their livelihoods. Many borrowers from hard-hit sectors like tourism are consequently at greater… Source link

(Bloomberg) — Cathie Wood is keeping the faith, even in the face of Bitcoin’s massive plunge that had wiped $500 billion from the coin’s peak market value at one point. The head of Ark Investment Management said in an interview on Bloomberg TV that she still expects the cryptocurrency to reach a price of $500,000. She noted that as highly volatile sectors in the stock market are selling off amid inflation fears, Bitcoin is dropping as well. It last traded just below $38,000. “We go… Source link

Reuters Bitcoin struggles for footing on worries over China, leverage Bitcoin, the biggest and most popular cryptocurrency, rose slightly to $38,072 after plunging 14% on Wednesday to its lowest since late January. Wednesday’s declines in both digital assets were their biggest daily percentage moves in more than a year as investors rushed to exit trades that until recently were heartily outperforming traditional markets such as stocks and bonds. But bitcoin had been under pressure for almost… Source link

TipRanks Goldman Sachs Predicts Over 50% Rally for These 3 Stocks Take a good look at the headlines, and you’ll be excused for thinking that we’re back in 1979. The late Carter years are remembered as the time of ‘stagflation:’ high inflation, high unemployment, fuel shortages, and a general malaise. So far, we’ve seen fuel shortages and gas station lines across the Southeast, rising commodity and housing prices, and unemployment ticking up even as the number of job openings… Source link

Bitcoin tumbled for a fifth-straight day, putting the largest cryptocurrency on track for its worst month in more than three years and leading a full-flown retreat from digital-asset markets. At press time, bitcoin (BTC) was changing hands at around $38,500, after dropping below $31,000 earlier Wednesday. The price was down 9.8% since 0:00 coordinated universal time (8 p.m. ET Tuesday). As recently as April, the price had hit an all-time high of close to $65,000. The latest crash shook out… Source link

(Bloomberg) — The Elon Musk-propelled rally in Bitcoin just evaporated. The world’s largest cryptocurrency has erased all the gains it clocked up following Tesla Inc.’s Feb. 8 announcement that it would use corporate cash to buy the asset and accept it as a form of payment for its vehicles. Now traders are bracing for more pain as the token hovers around a key technical level. Bitcoin dropped to about $40,300 as of 11:05 a.m. in London Wednesday, a level last seen before the EV-maker… Source link

LONDON (Reuters) – Bitcoin tumbled below the $40,000 mark on Wednesday to a 3-1/2 month low and dragged down the prices of other digital coins after China imposed fresh curbs on transactions involving cryptocurrencies. Bitcoin, the biggest and best-known cryptocurrency, had already been under pressure from a series of tweets from Tesla boss Elon Musk, but the news from China sent it as low as $38,514, for a 9% fall. By 0855 GMT, it had recovered to $40,627, still down 5% on the session. The… Source link

Benzinga Is the Bitcoin-Ethereum ‘Flippening’ a Likely Scenario? It has been a bad week for the crypto space. Elon Musk is widely believed to play a major role in crashing Bitcoin’s price by $12k when he tweeted that Tesla will no longer be accepting Bitcoin. He framed this backtracking as an environmental concern due to the high levels of energy consumption required in Bitcoin mining. As a result, this had a cascading effect on almost all altcoins with very few exceptions. To set the record… Source link