polkadot – pressnews

[ad_1] Bitcoin delivered another bout of its notorious volatility in a brief but sharp tumble toward $40,000 amid a broader crypto selloff.The largest token sank as much as 7.5% to $40,521 before paring some of the losses to trade 3.6% lower at $42,245 as of 7:15 a.m. Monday in London. Smaller tokens like Ether, XRP, Polkadot and Cardano also fell. An index of the largest 100 digital assets shed about 4%, the largest drop since Nov. 22. Bitcoin has been on a tear this year on expectations that regulators will give the green light for the first US exchange-traded funds investing directly in the token, widening the potential base of crypto investors. Bets that the Federal Reserve will cut interest rates in 2024 have also encouraged the rally both in Bitcoin and virtual currencies as a who...

[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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Crypto Crumbles – Bitcoin’s 2023 Rally Frays During Brief 7.5% Drop Toward $40,000

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