Tag Archives: Bitcoin

(Bloomberg) — Bitcoin headed for its worst week in almost two months as a proposed capital-gains tax increase for wealthy Americans intensified the volatility whiplashing the world’s largest cryptocurrency. A fresh bout of selling on Friday drove Bitcoin down as much as 7.9% to $47,525 — below its 100-day moving average — as it continued to take out key technical levels. Wall Street analysts warn of further losses for the notoriously volatile currency that hit a record high of $64,870 on… Source link

Bitcoin crashed 10% to $49,332 (£68,482) on Friday morning in London, Ethereum slumped 11% to $2,227 after hitting record highs of £2,613 on Thursday. Photo: Getty Crypto markets pulled back sharply after reports US president Joe Biden is planning to raise capital gains tax for the wealthy. Bloomberg reported on Thursday that Biden is considering nearly doubling tax to as high as 39.6%, an increase from the current 20%. Cryptocurrency investors face higher taxes if Biden presses… Source link

Bitcoin prices extended their recent decline late Thursday, falling for the seventh day in nine, to as low as $50,450. The largest cryptocurrency was changing hands around $51,800 as of 21:23 coordinated universal time (5:23 p.m. ET). Bitcoin (BTC) is down 9.8% since Sunday, the biggest drop on the weekly price charts since late February. Related: Bitcoin’s Drop From Biden’s Proposed Tax Hikes Not Likely to Last, BCB CEO Says A recent rally in prices for ether (ETH) and other alternative… Source link

Bitcoin (BTC) dominance, or the ratio of the largest cryptocurrency’s value to the overall market capitalization of digital assets, slipped below 50% for the first time since 2018, according to the data sites CoinMarketCap and CoinGecko. The ratio was 48% as of 15:44 coordinated universal time (11:44 a.m. ET) and came as ether (ETH), the native cryptocurrency of the Ethereum blockchain and the second-largest overall, surged to a new all-time high. Bitcoin’s market value is about $1.02… Source link

undefined It is unclear exactly why supporters have decided 20 April, which is also International Weed Day, will be celebrated as ‘doge day’. Photo: Getty Images Bitcoin and ethereum on Tuesday extended price declines that began last week, while Dogecoin maintained its rally on what supporters have dubbed ‘DogeDay’. Bitcoin (BTC-USD) was down 4.6% to trade at $54,763.19 (£39,152.67) by 9.20am in London. Ethereum (ETH-USD), the second largest cryptocurrency, was down around 5.3% to… Source link

Stocks fell Monday, with the S&P 500 and Dow retreating from record levels.  The Dow dropped about 130 points, or 0.4%, after the index rallied to an all-time high of more than 34,000 last week. The S&P 500 also dipped below the index’s record high, and the Nasdaq edged lower. The 10-year Treasury yield rose to top 1.6%. Bitcoin (BTC-USD) prices added more than 3% Monday morning in New York, recovering some losses after plunging swiftly over the weekend. Bitcoin sank as much as 15% on Sunday,… Source link

Bitcoin’s potential institutional adoption has been a hot topic in markets. Photo: Chesnot/Getty Images Cryptocurrency prices were volatile on Monday morning, after a wild weekend of selling that saw some tokens plunge by as much as 13%.  Bitcoin (BTC-USD) was down 1.2% to trade at $57,096 (£41,113) by 9.40am in London. Meanwhile, ethereum (ETH-USD), the second largest cryptocurrency, was down around 1% to trade at $2,253.41. Ripple (XRP-USD) was at one point 9.2% higher on Monday morning… Source link

(Reuters) -Bitcoin, the world’s biggest cryptocurrency, fell as much as 14% to $51,541 on Sunday, reversing most of the big gains it made over the past week. Bitcoin was last trading down 10% at $53,991 as of 1320 GMT, a whopping $12,000 below record highs set on Wednesday. Smaller rival Ether, the coin linked to the ethereum blockchain network, dropped 10% to $2,101. Data website CoinMarketCap cited… Source link

Bloomberg Gas Is the New Coal With Risk of $100 Billion in Stranded Assets (Bloomberg) — Natural gas is falling out of favor with emissions-wary investors and utilities at a quicker pace than coal did, catching some power generators unaware and potentially leaving them stuck with billions of dollars of assets they can’t sell.Citigroup Inc. and JPMorgan Chase & Co. are among the banks that strengthened their financing restrictions on thermal coal under pressure from shareholders wanting to… Source link

On Sunday, bitcoin shed nearly $8,000 and is currently trading at $55,042 down from a day high of $62,000. Photo: Getty Bitcoin (BTC-USD) is experiencing a massive sell-off, shedding as much as 15% in the last 24 hours — the biggest intraday drop since February — days after hitting record highs.  In late February, bitcoin saw a retreat to as low as $43,000 amid uncertainty in the traditional markets over stimulus expectations and their positive effects on US bond yields. The drop appears… Source link