Tag: Bitcoin gain

Bitcoin Touches Four-Week Low as $25,000 Becomes the Fresh Focus
26Apr By adminNo Comments
Technology

Bitcoin Touches Four-Week Low as $25,000 Becomes the Fresh Focus

[ad_1] Bitcoin reached an almost four-week low, with the cryptocurrency continuing to lose momentum since breaking above $30,000 earlier this month for the first time since June.The original digital currency was little changed on Monday after earlier falling as much as 1.9% to $26,989. That was the first time the price was below $27,000 since March 28. Other digital assets were mostly flat to higher, with Ether little changed and Avalanche up about 2%. Crypto-related stocks also extended their slide from last week. Coinbase, the biggest US digital exchange, has slumped for six straight trading sessions since Bitcoin hit its recent high of around $31,000 on March 14. MicroStrategy retreated for a fourth day. There has been some “overheating” of the market, said Aya Kantorovich, co-founde...
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Bitcoin ‘Halving’ Due Next Year Spurs Predictions of Rally in Token Past $50,000
24Apr By adminNo Comments
Technology

Bitcoin ‘Halving’ Due Next Year Spurs Predictions of Rally in Token Past $50,000

[ad_1] Bitcoin's rebound is just the start of a rally that will take it past $50,000 next year courtesy of a process known as halving that curbs the supply of new tokens, according to projections from crypto analysts.The largest digital asset has climbed 70% since Dec. 31 in a partial revival from an epic rout in 2022. While the token at the moment is struggling in the vicinity of $30,000, halving holds the potential to trigger an advance of at least 78%, according to Bloomberg Intelligence and Matrixport. A halving – or halvening – cuts in half the amount of tokens that Bitcoin miners receive as reward for their work. The quadrennial event is due next around April 2024 and is part of the process of capping Bitcoin supply at 21 million tokens. The coin hit records after each of the last...
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Bitcoin Is Rallying But El Salvador’s Holdings Are Still Down 29 percent
12Apr By adminNo Comments
Technology

Bitcoin Is Rallying But El Salvador’s Holdings Are Still Down 29 percent

[ad_1] Bitcoin may be at a nine-month high, but El Salvador's total holdings are still worth 29% less than what the government paid for the world's largest digital currency.El Salvador purchased 2,546 Bitcoin at a cost basis of roughly $108 million, according to calculations by Bloomberg. At Tuesday's prices, those tokens are worth just $77 million. Bitcoin climbed above $30,000 on Tuesday for the first time since June 2022, bolstered by bets on easier monetary policies. However, the token remains more than 50% lower than an all-time high in 2021, around the time President Nayib Bukele's government began buying Bitcoin after making it legal tender. Even still, Bukele has continued to advocate for the digital currency. Just around the time Bitcoin reached a 52-week low of roughly $15,500...
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Cryptoverse: Hooked on growth, bitcoin investors turn to smart tokens
9Mar By adminNo Comments
Technology

Cryptoverse: Hooked on growth, bitcoin investors turn to smart tokens

[ad_1] For investors living on the digital edge, bitcoin is starting to look a little old-fashioned.Hooked on high growth, some are turning away from the original cryptocurrency - designed as an alternative to regular cash - in favor of its descendants created as native tokens of blockchain platforms that host smart contracts and apps. MarketVector's Smart Contract Leaders Index, which tracks major tokens of this kind - including ether, dot and solana - is up 36% in 2023, outpacing even bitcoin's 33% rise. Solana's token is up 76% this year. Bundeep Rangar, CEO of crypto-focused investor Fineqia, said he expected the biggest crypto returns to come from smart contract tokens on platforms that support decentralized finance (DeFi) apps."Those are ones that you will find capital appreciati...
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Bitcoin Charts Pin $25,000 as Make or Break for Revival
21Feb By adminNo Comments
Technology

Bitcoin Charts Pin $25,000 as Make or Break for Revival

[ad_1] The $25,000 level for Bitcoin is emerging as a key technical hurdle for the token's partial bounce from last year's crypto rout.Bitcoin scaled that level on Feb. 16 for the first time since August but has struggled to stay above it. The largest digital coin advanced 2% on Monday to fluctuate just around the $25,000 mark. The token's strong new year performance appears to be partly driven by the idea that the worst of monetary tightening is over. Some investors have also taken succor from the view that the Federal Reserve can quell inflation without triggering a US recession, which has boosted risk assets from equities to crypto. “With the market swapping the ‘hard landing' narrative of the fourth quarter last year to one of ‘no landing' in the first quarter of 2023, speculative ...
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