Tag Archives: Bitcoin

(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

The Crypto Fear and Greed Index, a metric that measures the current sentiment in the bitcoin market, has fallen to “extreme fear” levels not seen since April 2020, a report Tuesday showed. The drop in market sentiment follows the past week’s plunge in the bitcoin (BTC) price to about $43,200, down from last month’s record near $65,000. The Crypto Fear and Greed Index is now at 21, down from a “greedy” level of 73 just last week, according to the report from hosting site Alternative… Source link

Bloomberg Novogratz Says Bitcoin Risks Being Under Pressure for Weeks (Bloomberg) — Bitcoin is likely to remain under pressure for weeks after tumbling about 35% since hitting a record high last month, according to one of the biggest investors in the largest cryptocurrency.“I think we are going to consolidate for a while, four to six weeks,” Michael Novogratz, chief executive officer of Galaxy Digital LP, said in an interview, calling a $40,000-to-$50,000 price range fair.Bitcoin fell as… Source link

Mike Colyer leads one of North America’s biggest crypto mining companies, Foundry. Owned by Digital Currency Group (CoinDesk’s parent company), the startup emerged in 2019 and has quickly come to exemplify a trend: the comeback of U.S. crypto mining after years of living in the shadows of China’s greater hash power.  We caught up with Colyer for a preview of his thoughts on the China vs. U.S. rivalry in bitcoin mining, institutional adoption and the controversial concept of “clean… Source link