Tag: bitcoin rate

Bitcoin Hits Highest in a Year as Crypto Rebounds From Scandals
24Jun By adminNo Comments
Technology

Bitcoin Hits Highest in a Year as Crypto Rebounds From Scandals

[ad_1] Bitcoin hit its highest level in a year amid renewed fervor for digital assets despite a slew of challenges for the industry.The original digital currency crossed above $31,013, its 2023 peak, to reach its highest level since June 2022, Bloomberg data show. The surge has brought Bitcoin to as high as $31,410 and up by almost 90% since the start of the year. Other cryptocurrencies followed suit, with Ether also rallying. It's a remarkable development — and show of resiliency — for a market that many had written off as being on the verge of extinction following a number of high-profile and high-impact scams and company fallouts that left the industry besmirched among investors. “From the ardent Bitcoiner's perspective, the token's most fundamental investment thesis is playing out: ...
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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 Stumbles This Week After $30,000 Threshold Fails to Hold
23Apr By adminNo Comments
Technology

Bitcoin Stumbles This Week After $30,000 Threshold Fails to Hold

[ad_1] Bitcoin is ending the week on a down note after failing to sustain momentum once it pushed past $30,000 for the first time since June.The largest cryptocurrency by market value has dropped about 10% since last Sunday to around $27,300, rounding out its first weekly loss in four. Bitcoin had climbed as high as $31,013 on March 14, and has surged around 65% this year, helping to soften the blow from a similar-sized decline in 2022. The weekly drop comes amid improving bank deposits, a fluctuating outlook for higher interest rates and a risk-on rally in some US stocks. “Bitcoin saw a loss of short-term momentum earlier this week, which has given way to a corrective phase,” said Will Tamplin, senior analyst at Fairlead Strategies.“The one concern is whether the rally to $30k was mere...
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Bitcoin Barrels Past Banking Sector Troubles Toward One of its Biggest Weekly Gains
18Mar By adminNo Comments
Technology

Bitcoin Barrels Past Banking Sector Troubles Toward One of its Biggest Weekly Gains

[ad_1] Bitcoin is on course for one of its biggest weekly gains of recent years, bolstered by wagers on eventual cuts in interest rates as the token rides out convulsions in the banking sector.The largest digital asset is up about 25% since the start of Monday. It's had a weekly jump of at least that much only 10 times in the past five years, data compiled by Bloomberg show. Smaller coins like Ether and Dogecoin are also rallying. The collapse of three regional US lenders and wobbles at Credit Suisse Group AG are strengthening expectations of an end to the monetary tightening that pummeled crypto in 2022. The ructions are also reviving claims from Bitcoin's most ardent supporters that the token is an alternative to fiat currency. “The current turbulence within the US banking sector, po...
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Bitcoin Drops Below $20,000, Set for Worst Week Since FTX Crash
11Mar By adminNo Comments
Technology

Bitcoin Drops Below $20,000, Set for Worst Week Since FTX Crash

[ad_1] Bitcoin is having its worst week since November as an equity selloff, fear over higher interest rates and an escalating US regulatory crackdown on crypto combine to hurt investor sentiment.The largest token fell as much 3.2% on Friday, breaking below $20,000 for the first time since January, after falling more than 8% on Thursday. Smaller coins like Ether, Solana and Cardano also added to losses. A rout in US bank stocks on Thursday stoked concerns that rising borrowing costs are creating a treacherous economic and investing outlook. In New York, the state regulator sued KuCoin, a popular crypto exchange, and in the process claimed in court that second-largest token Ether is a security. The US Securities & Exchange Commission also contends that many cryptocoins are securitie...
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Bitcoin Falls a Fourth Day as Silvergate Troubles Weigh on Crypto
10Mar By adminNo Comments
Technology

Bitcoin Falls a Fourth Day as Silvergate Troubles Weigh on Crypto

[ad_1] Bitcoin fell for a fourth day, sending the world's largest cryptocurrency to the lowest in nearly a month as sentiment in digital assets sours following the collapse of yet another onetime industry mainstay. The digital token fell as much as 2.7% on Thursday before recouping some losses to trade at around $21,500. Other tokens such as Ether also edged lower. Renewed turmoil in an industry already rocked by a series of blowups has put some investors on edge. The latest causality involves crypto-friendly bank Silvergate Capital Corp, which announced plans Wednesday to wind down operations and voluntarily liquidate its bank. Its unraveling comes at a time of heightened regulatory scrutiny of the industry. “It's hard to make a fundamental argument for crypto here, just given...
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Bitcoin Becoming Less Volatile Than Stocks Raises Warning Flag
13Oct By adminNo Comments
Technology

Bitcoin Becoming Less Volatile Than Stocks Raises Warning Flag

[ad_1] Crypto traders are warning that in a low-volume environment, that might not be a great thing. At first blush, Bitcoin becoming less volatile than stocks might appear like a positive development. But crypto traders are warning that in a low-volume environment, that might not be a great thing. The coin's 30-day realized volatility has “dropped sharply” in recent days, according to Noelle Acheson, author of the “Crypto is Macro Now” newsletter. It's currently at around 52% after spending the past month above 64% on an annualized basis, according to Coin Metrics data compiled by Acheson. Meanwhile, Jake Gordon at Bespoke Investment Group points to a volatility gauge called BitVol, which has “begun to break down,” falling to near its lowest levels since the spring. The index curr...
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Bitcoin Price Today Drops as Strong Jobs Data Seen Keeping Fed on Rate-Hike Path
8Oct By adminNo Comments
Technology

Bitcoin Price Today Drops as Strong Jobs Data Seen Keeping Fed on Rate-Hike Path

[ad_1] Bitcoin price today fell after the monthly US jobs report showed that payrolls expanded at a faster-than-expected pace. Bitcoin fell after the monthly US jobs report showed that payrolls expanded at a faster-than-expected pace and the unemployment rate fell, bolstering expectations that the Federal Reserve will continue the aggressive rate hikes that have pulled down risk assets.Bitcoin, the largest digital coin by market value, dipped as much as 3.6% on Friday, its largest intraday drop over a week. The token traded as low as $19,333. Ether dropped as much as 3.4%, with other so-called altcoins like Solana and Avalanche also declining. “I think we need to respect the down trend and assume that the bear-market cycle is still dominant,” says Katie Stockton, founder of Fairlead S...
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Bitcoin Erases Drop Sparked by US Fed’s Warning of Rate-Hike Pain
22Sep By adminNo Comments
Technology

Bitcoin Erases Drop Sparked by US Fed’s Warning of Rate-Hike Pain

[ad_1] Cryptocurrencies fought off declines triggered by another large US Fed interest-rate hike, though sentiment remained cautious. Cryptocurrencies fought off declines triggered by another large Federal Reserve interest-rate hike, though sentiment remained cautious given the central bank's warning of economic pain ahead from tightening policy. Bitcoin, the largest token, was about 1.2% higher as of 10:50 a.m. in London on Thursday after earlier sliding as much as 4% toward levels last seen in 2020. Second-biggest coin Ether continued to underperform, shedding 2%. Markets are shuddering at the Fed's determination to fight inflation by constricting financial conditions. Shorter maturity Treasury yields jumped more than ...
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