Tag Archives: Bitcoin

(Bloomberg) — Crypto had another bad week — and it may only get weirder. Most Read from Bloomberg Bitcoin led a decline in digital assets across the whole crypto spectrum, with the world’s largest token set for an eighth straight weekly loss in its longest such slump since August 2011. Bitcoin fell 2.4% on Friday to about $28,700 as of 5 p.m. in New York, buffeted by both the macro headwinds of Federal Reserve monetary tightening and the crypto-specific fallout from this month’s implosion… Source link

(Bloomberg) — Most Read from Bloomberg Bitcoin rebounded from a swoon below $30,000 as a selloff in stocks moderated and a bout of calm washed across global markets. The world’s largest digital token added as much as 5.4% to $32,636.08 as of 7:48 a.m. in London. Ether at one point climbed 6.4%, while coins like Solana and Avalanche were also in the green. Bitcoin’s earlier plunge had taken it to levels last seen in the middle of 2021. Whether the calm will last is an open question…. Source link

(Bloomberg) — There’s a crypto refrain when prices crash precipitously like this: The selloff is washing out the short term-focused non-believers, known as weak hands, strengthening the industry in its wake. Most Read from Bloomberg It’s a glib way to think of all those who had joined the market as Bitcoin’s price rose to an all-time high at the end of last year — including institutions and small-time at-home investors, many of whom are deeply underwater on their investments now. A… Source link

(Bloomberg) — Bitcoin is falling toward levels last seen in July 2021, part of a wider retreat in cryptocurrencies amid a global flight from riskier investments. Most Read from Bloomberg The world’s largest digital token dropped as much as 2.7% on Monday and was trading at $33,531 as of 10:28 a.m. in London. The second biggest, Ether, shed as much 4.6%. Most major virtual coins were under pressure over the weekend and the downbeat mood carried over into Monday. Equities in Asia and Europe… Source link

Bitcoin continues to fall, extending its losses from the past week. The largest cryptocurrency by market value dropped 4% in the last 24 hours, according to CoinGecko, breaching a key support level and hitting a daily low of $34,406. It’s currently trading at around $34,519, down 9% in the last seven days and down 40% year to date. Ether, the second-largest, is also in the red, down 6% in the last day and down 7.4% in the last week. Overall, the cryptocurrency market is taking a hit, down 4.2%… Source link

Michael Saylor is perhaps one of the most fervent supporters of Bitcoin on the planet—and that’s saying something, given the almost cultlike community behind the world’s leading cryptocurrency. Saylor, an MIT graduate and the cofounder and CEO of the business intelligence firm MicroStrategy, has become a hero to the Bitcoin faithful ever since his company began stockpiling the cryptocurrency in August 2020. The CEO has gone so far as to call Bitcoin “freedom,” and “the most… Source link

Warren Buffett just said he doesn’t own bitcoin because ‘it isn’t going to do anything’ — he’d rather own these 2 tangible assets instead Despite its recent pullback, bitcoin has soared by more than 2,000% over the past five years. But while the world’s largest crypto coin has clearly hit the mainstream, one prominent investor remains critical of the opportunity: Warren Buffett. At the Berkshire Hathaway annual shareholders meeting on Saturday, Buffett said that while he… Source link

Under tightening monetary pressures from central banks, Bitcoin (BTC-USD) is trading like “an overpriced tech stock,” as one analyst noted. That could potentially mean poor performance for the next few months. Bitcoin began trading this week above $40,400 Sunday before its correction early Monday morning where it slipped below $39,000 during Asian trading hours. After recovering Monday, the largest cryptocurrency briefly wafted above $42,000 before settling back at $41,168 Wednesday… Source link

Jack Mallers, founder and CEO of payments application, Strike, believes Bitcoin can bring the first real change to the payments industry since the invention of the credit card. Trading just above $41,000 as of Tuesday afternoon, down about 2% over the past month, Bitcoin is used primarily as a store of value asset that critics and long-time investors agree trades like risk-on equity, making it much less useful as a medium of exchange than cash. But Mallers argues that Bitcoin’s underlying… Source link

(Bloomberg) — A funny thing happened to Bitcoin as interest rates started to rise: trading volumes went way down. Now market-watchers are grappling with the implications and what a world of less-loose monetary policy means for digital assets. Most Read from Bloomberg The aggregate 30-day moving-average volume for Bitcoin across Coinbase, Bitfinex, Kraken and Bitstamp is at its lowest level since August 2021, according to data compiled by Strahinja Savic at FRNT Financial. Over the last month,… Source link