Bitcoin fell underneath US$30,000 on Tuesday for the first time in five months, hit by concerns over China's ongoing crackdown on the world's most popular cryptocurrency.

Bitcoin sank nine percent to as low as US$29,624, attaining a level last seen in January, with analysts citing Chinese efforts to crack down on trading and mining operations.

"Concerns mount over China's ongoing clampdown and fears that widespread acceptance of bitcoin and other digital currencies will be delayed because of concerns about their environmental impact," said analyst Fawad Razaqzada at trading site ThinkMarkets.

Bitcoin also faces a green backlash because mining often uses electricity produced from fossil fuels, he ... Read more »

Category: News | Views: 221 | Added by: danyagames2007 | Date: 22.06.2021 | Comments (0)

Bitcoin fell below $30,000 for the first time in months, and fears are growing among investors that the downward trend will continue.

Bitcoin dropped to $29,300 on Tuesday, the lowest level since early January, when it began a rally that peaked at it being valued at more than $63,000 per coin. The decline caused the cryptocurrency to enter what investors refer to as a “death cross,” which occurs when a security’s short-term moving average falls below its long-term moving average.

Bitcoin and other associated cryptocurrencies began falling from their April highs following regulatory pressure. David Sacco, a practitioner in residence at the University of New Haven finance department, told the Washington Exami ... Read more »

Category: News | Views: 198 | Added by: danyagames2007 | Date: 22.06.2021 | Comments (0)

Cryptocurrencies gyrated sharply Tuesday, extending a recent run of wild swings.

For the first time since January, bitcoin —  the world’s most popular digital coin — briefly dropped below $30,000, a key level that technical analysts monitor. It erased its gains for 2021 before recovering to trade at $32,453.90, according to CoinGecko, a crypto market data site. 

Bitcoin at one point shed more than 10% to trade as low as $29,154.73, losing more than half its value since hitting a record high in April. That's after a tremendous performance in 2020, with the digital currency surging more than 300%.

Other cryptos joined the sell-off before paring losses, with ethereum, the second-biggest d ... Read more »

Category: News | Views: 237 | Added by: danyagames2007 | Date: 22.06.2021 | Comments (0)

Ever since President Nayib Bukele announced that El Salvador would make Bitcoin legal tender, the country has been consistently making headlines. The latest incident is, however, for a significantly different reason. This time, local residents have filed a lawsuit claiming that the move is unconstitutional. And according to some in the country, President Bukele may be behind the move and could be looking to sabotage the very move that has endeared him to the crypto community.

President Bukele announced that El Salvador would make BTC legal tender at the Bitcoin 2021 conference in Miami. In no time, a bill towards the same was in Congress and was passed swiftly, expectedly so as Bukele’s party controls the legislature. Since th ... Read more »

Category: News | Views: 180 | Added by: danyagames2007 | Date: 22.06.2021 | Comments (0)

Vocal Bitcoin critic Peter Schiff has tweeted about when it is the best time to act, “if you really want to buy Bitcoin”.

This recommendation is to do with MicroStrategy that yesterday announced another massive Bitcoin purchase after spending almost $500 million to add more of the flagship crypto to its balance sheet.

“Wait until MicroStrategy sells its last Satoshi”
CEO of Euro Pacific Capital and a gold hedge fund, Schiff posted a sarcastic tweet, commenting on yesterday’s massive Bitcoin purchase made by Michael Saylor’s company.

Schiff tweeted that those who really want to buy some BTC should wait for MicroStrategy to sell its last Satoshi. He added that if the company ke ... Read more »

Category: News | Views: 190 | Added by: danyagames2007 | Date: 22.06.2021 | Comments (0)