Tag: bitcoin market value

Bitcoin Sinks to Two-Week Low as Silvergate Fallout Hurts Crypto
4Mar By adminNo Comments
Technology

Bitcoin Sinks to Two-Week Low as Silvergate Fallout Hurts Crypto

[ad_1] Bitcoin dropped to the lowest level in about two weeks, part of a wider retreat in crypto markets as investors digested the unraveling of a key industry payments network. The largest token by market value sank as much as 6% before paring some of the slide to trade 4.6% lower at $22,347 as of 6:30 a.m. Friday in New York. Smaller coins such as Ether, Avalanche and the meme token Dogecoin also suffered declines. The digital-asset industry is absorbing the fallout of the troubles at crypto-friendly US bank Silvergate Capital Corp., which has said that it's reviewing whether it can remain viable. The bank offers a widely used payments network that facilitates the real-time transfer of funds between crypto firms. But many digital-asset exchanges, stablecoin issuers and trading d...
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Cryptoverse: Jump or slump? $30k or $5k? Play the bitcoin roulette
13Dec By adminNo Comments
Technology

Cryptoverse: Jump or slump? $30k or $5k? Play the bitcoin roulette

[ad_1] Plucky bitcoin's been holding steady since seeing off the chaos of the FTX collapse, gathering its strength to rally towards the dizzy heights of $30,000 in 2023. Plucky bitcoin's been holding steady since seeing off the chaos of the FTX collapse, gathering its strength to rally towards the dizzy heights of $30,000 in 2023. Battered bitcoin's been unresponsive since being clobbered by the FTX collapse, taking in a deep ragged breath before plunging towards the depths of $5,000. Place your bets, spin the wheel. The world's dominant cryptocurrency has certainly been uncharacteristically muted over the past two weeks, treading water between about $15,770 and $17,350 in the eerie wake of the FTX-induced market mini-crash in November. What happens next is anyone's guess. "T...
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Bitcoin Sinks Further 70% in Standard Chartered List of Possible 2023 Upsets
5Dec By adminNo Comments
Technology

Bitcoin Sinks Further 70% in Standard Chartered List of Possible 2023 Upsets

[ad_1] Speculators cleaving to the view that the crypto rout is mostly over are at risk of a rude awakening in 2023, according to Standard Chartered. Speculators cleaving to the view that the crypto rout is mostly over are at risk of a rude awakening in 2023, according to Standard Chartered.A further Bitcoin plunge of about 70% to $5,000 next year is among the “surprise” scenarios that markets may be “under-pricing,” the bank's Global Head of Research Eric Robertsen wrote in a note on Sunday. Demand could switch from Bitcoin as a digital version of gold to the real thing, spurring to a 30% rally in the yellow metal, Robertsen also said. This possible outcome involves a reversal in interest-rate hikes as economies struggle and more crypto “bankruptcies and a collapse in investor confid...
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Bitcoin Climb Fails to Dispel Fears That FTX Contagion Is ‘Far From Over’
29Nov By adminNo Comments
Technology

Bitcoin Climb Fails to Dispel Fears That FTX Contagion Is ‘Far From Over’

[ad_1] Bitcoin pushed higher alongside other major tokens Tuesday but concerns about contagion from the collapse of FTX continue to loom large. Bitcoin pushed higher alongside other major tokens Tuesday but concerns about contagion from the collapse of FTX continue to loom large.The largest digital coin rose as much as 2% and was trading at about $16,490 as of 7:20 a.m. in London. Second-ranked Ether also posted gains, while meme token Dogecoin surged 10% at one point. bitcoin The crypto lender unraveled in the wake of the chaotic demise of Sam Bankman-Fried's FTX exchange and sister trading house Alameda Research. But the crypto world is nervously watching for further fallout from FTX, with the spotlight trained on the likes of struggling brokerage Genesis.“The credit contagion is fa...
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Bitcoin’s Slide Pauses in Wait for Next Domino to Fall After FTX
22Nov By adminNo Comments
Technology

Bitcoin’s Slide Pauses in Wait for Next Domino to Fall After FTX

[ad_1] Cryptocurrency prices steadied in a lull from the selloff sparked by the demise of Sam Bankman-Fried’s FTX empire. Cryptocurrency prices steadied in a lull from the selloff sparked by the demise of Sam Bankman-Fried's FTX empire, but investors are braced for more ructions as further digital-asset sector bankruptcies loom.The largest token Bitcoin added about 1.5% on Tuesday while remaining below $16,000 and in sight of the weakest levels since November 2020. Coins such as Ether, Solana and meme token Dogecoin also posted modest gains. The latest sign of contagion from the fall of the FTX exchange came from Genesis, a digital-asset brokerage that warned of possible bankruptcy unless it can raise cash. Crypto lender BlockFi Inc. is also struggling to stay afloat. FTX's unraveling...
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Bitcoin Responds to FTX Contagion by Heading for a Weekly Gain
18Nov By adminNo Comments
Technology

Bitcoin Responds to FTX Contagion by Heading for a Weekly Gain

[ad_1] There can be little doubt that crypto investors expect more firms to blow up in the treacherous wreckage of the wipeout at FTX. Their confounding response has been to drive up Bitcoin. There can be little doubt that crypto investors expect more firms to blow up in the treacherous wreckage of the wipeout at FTX. Their confounding response has been to drive up Bitcoin this week.The token is up some 3% over the period, topping global stocks, while a gauge of the leading 100 virtual coins has added about 1%. That compares with Bitcoin's 23% slide last week as Sam Bankman-Fried's FTX empire collapsed. To recap the backdrop: FTX's chaotic bankruptcy left even the man who liquidated Enron Corp. flabbergasted and put the likes of crypto lender BlockFi Inc. on the cusp of their own Chap...
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Bitcoin Miner Iris Flags Risk of Default on $103 Million of Debt
3Nov By adminNo Comments
Technology

Bitcoin Miner Iris Flags Risk of Default on $103 Million of Debt

[ad_1] Iris Energy Ltd. is the latest Bitcoin miner to grapple with debt trouble because of the sharp market downturn for digital assets. Iris Energy Ltd. is the latest Bitcoin miner to grapple with debt trouble because of the sharp market downturn for digital assets. The Sydney-based green crypto miner, which listed in the US last year, said in a statement on Wednesday that some of its mining equipment isn't making enough cash to cover related debt-financing obligations. The firm said $103 million of debt is secured against the rigs via a couple of wholly-owned special purpose vehicles. It doesn't plan to provide further financial support for the vehicles absent a refinancing agreement. That means a default on the loans looms on Nov. 8 when a scheduled principal payment is lik...
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MicroStrategy Posts Quarterly Loss After Revenue Decline Despite Bitcoin Reversing Declines
2Nov By adminNo Comments
Technology

MicroStrategy Posts Quarterly Loss After Revenue Decline Despite Bitcoin Reversing Declines

[ad_1] MicroStrategy Inc. posted a loss in the third-quarter after revenue fell despite Bitcoin reversing months of declines . MicroStrategy Inc. posted a loss in the third-quarter after revenue fell despite Bitcoin reversing months of declines during the most recent three-month period. The net loss for the quarter ended Sept. 30 was $27.1 million, compared with $36.1 million in the year-ago period. It had a $1.1 billion loss in the second quarter. Revenue fell 2.1% to $125.4 million as product licenses revenue dropped. The enterprise software-maker, which has been buying Bitcoin in bulk since 2020 as a hedge against inflation, has been forced to take massive writedowns this year due to the drop in value of the digital currency. Bitcoin fell almost 60% in the first half of the ye...
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Bitcoin’s Hold Above $20,000 Gives Bulls Hope for Lasting Rally
29Oct By adminNo Comments
Technology

Bitcoin’s Hold Above $20,000 Gives Bulls Hope for Lasting Rally

[ad_1] Bitcoin’s four-day streak above $20,000 has invigorated crypto traders as they bet the token is due for a resurgence after a brutal year. Bitcoin's four-day streak above $20,000 has invigorated crypto traders as they bet the token is due for a resurgence after a brutal year. On Tuesday, the largest cryptocurrency by market value advanced above $20,000, and as of Friday morning in New York it had yet to fall below that threshold. The breakout marked the end of a nearly three-week slump that saw Bitcoin trading below the key level for the longest stretch since late 2020. Other cryptocurrencies staged their own comebacks. For the past few days, Ether has traded at or slightly above $1,500 after spending much of the month closer to $1,300. Meanwhile, Dogecoin has surged around 40% ...
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