Bitcoin Hovers Above $20,000 As Investors Prepare For Major Market Shake-up
Bitcoin held above the $20,000 mark on Monday as investors braced for a tough time. On Saturday, the world’s largest cryptocurrency dropped below the $20,000 mark to as low as $17,592.78 for the first time since December 2020. Crypto experts linked Bitcoin’s decline to the various problems facing several crypto firms. An eventual domino effect […]
Bitcoin Leaps 7.6% To $20,404
Bitcoin jumped 7.6% to $20,404 on Sunday, after slipping to a record low of $17,592.78 on June 18. Ether, the coin linked to the blockchain network Ethereum, rose more than 13% to $1,131 from its previous closing price of $993 on Saturday. Bitcoin and other cryptocurrencies have suffered massive declines in recent months, owing to […]
Factors Responsible For Bitcoin’s Fall In Value
Experts believe Bitcoin’s sharp decline is part of a broader global climate marked by recession fears, inflation, rising interest rates and the cost of living. For them, these factors have discouraged investors from investing in risky assets such as cryptocurrencies. Many consider crypto too high a risk to invest in. The collapse of much lesser-known […]
Wall Street watchdog To Hire laid-off crypto employees
The Financial Industry Regulatory Authority will increase its resources to understand and monitor cryptocurrencies, which chief executive Robert Cook said would include hiring laid-off cryptocurrency workers. According to Cook, regardless of the federal agency in charge as the primary regulator for digital assets, FINRA will most likely play a role. “We are already having to be […]
Crypto Watchers Remain Pessimistic After Bitcoin Stabilizes
Crypto market observers remain pessimistic about Bitcoin’s immediate prospects, even after the cryptocurrency stabilized in value after a recent decline. The pessimistic view further confirm initial view that the worst is yet to come. Bitcoin rebounded from a 7.3% loss to $20,816 its lowest level since December 2020. Bitcoin was last traded at $22,470. Ether, […]
Bitcoin’s Decline Continue After Network Freezes Withdrawals And Transfers
Bitcoin and other cryptocurrencies suffered another decline after U.S. cryptocurrency lending company Celsius Network froze withdrawals and transfers. Bitcoin fell as much as 14% to an 18-month low of $22,725 following the announcement, but the cryptocurrency recovered slightly to around $24,265. The second most valuable cryptocurrency by market cap ether also fell as much as […]
NY Bill to Limit The Use Of Fossil Fuel For Crypto Mining
New York State legislature has passed a law imposing a two-year moratorium on the use of fossil-fuel power plants for crypto mining. The State Assembly passed the bill in April and the Senate passed it late last week as part of the state’s effort to reduce statewide greenhouse gas emissions by 85% by 2050. Despite […]
Over 46,000 People Lose More Than $1 Billion To Crypto Fraud Since 2021, FTC
The report found that nearly half of people who reported losing digital currencies to a scam claimed it started with an ad, post, or message on a social media platform. Nearly four out of every ten dollars lost to a scam that began on social media were lost in crypto. Instagram, Facebook, WhatsApp and Telegram […]
Bitcoin Slips Further Below $30,000 Mark
Bitcoin, the world’s largest cryptocurrency, fell to $29,555.35, signaling a 6.9% decline. The decline means the cryptocurrency lost $2,262.81 from its previous closing price. Since hitting an all-time in 2021, the cryptocurrency has faced a shocking decline that has caused its market capitalization to fall. Experts blame several reasons for Bitcoin’s decline, including stricter laws […]
Cryptocurrencies Are Too Volatile For Retirement Purposes
Several opinion polls and surveys have shown that older Americans remain bullish on cryptocurrencies, and many plan to use their investment for retirement. They are however cautioned that crypto is prohibitively volatile for retirement purposes. A joint conclusion of investors and asset managers at a summit hosted by Reuters is that if a person is not […]
