Bitcoin bounces back to $50,000 – more to come?

Bitcoin

Bitcoin gain Bitcoin hit $50,000 on Sunday, reaching a more than 3-month high, as the cryptocurrency continues to rebound. Bitcoin hit an all time high of over $64,000 in April 2021 – then but sold off in June and July, dipping below $30,000. But since mid July, bitcoin has been regaining lost ground. Other cryptocurrencies were also higher. Ether was trading up at around $3,302 Monday Market news roundup – morning business headlines U.S. stock futures rise and risky assets climb as attention turns to Jackson Hole Fed gathering –…

Read More

Bitcoin mining became more profitable as system algorithm adjusts after crackdown in China

Tech stocks

Hashrate drops More than 54% of bitcoin’s hashrate, which is the collective computing power of miners worldwide, has dropped off the network since its peak in May. The Bitcoin code has re-calibrated to make it approximately 28% less difficult to mine. Miners who are still plugged into the network stand to make greater profits while most of the network’s miners move offline. It just became substantially easier and much more profitable to mine for Bitcoin. Bitcoin mining puzzles A bitcoin miner runs a program on a computer to try to…

Read More

Bitcoin value climbs above $1 trillion as price jumps again

Bitcoin

Bitcoin’s value briefly surpassed $1 trillion again on Tuesday 9th March 2021, as the price of the cryptocurrency jumped The digital coin’s price rose on Tuesday and its market capitalization went above $1 trillion in overnight trade. It is only the second time that Bitcoin has surpassed $1 trillion after hitting that milestone for the first time on 19th February 2021. Bitcoin hit a 24 hour high of $54,348 – around 7% higher, but has since pared some of those gains. Bitcoin rally Even though bitcoin is off its all…

Read More

Is this the ultimate market influencer?

Tech

When does a social media comment influence the market? Probably when Elon Musk, the CEO of Tesla posts a tweet So…what happened? Tesla buys Bitcoin with a reported $1.5 billion investment adding it to the company balance sheet. Elon Musk posts a tweet and Bitcoin surges even higher from its already lofty elevation. It holds for a day or two then falls back dramatically following another tweet from Musk only this time the tweet suggesting the Bitcoin value is too high! Bitcoin then basically crashes from an all time high…

Read More

Bitcoin bashed as it slips more than 20% in a week

Digital currency

Bitcoin bashed Bitcoin suffered last week falling more than 20% over a seven day stretch, touching a daily low of around $7735 on Friday – lowest level since June. Bitcoin closed Friday 27th at around $8060. Other digital currencies; ether and XRP, were also down on the week. Why the Bitcoin drop? I’m unsure but analysts apparently suggest the selling pressure was based on a lacklustre debut of a new bitcoin product, and of technical levels being broken. Bitcoin is known known for its volatility and had been relatively stable since August 2019,…

Read More

Facebook ‘face-off’ with U.S. Senate, Cryptocurrency plan, AI and poker?

Digital currency

Facebook’s Libra cryptocurrency criticised at Senate hearing Facebook’s new cryptocurrency plan has come under attack at a U.S. Senate hearing. Politicians are calling the company ‘delusional’ and untrustworthy. The Senate officials had been grilling Facebook executive David Marcus over the tech giant’s intention to launch its own digital currency. Facebook was told to clean up its act before launching a new business model. The U.S. President, Federal Reserve Chair, Bank of England Governor, and France’s finance minister have spoken up against the idea. They are not fans of Facebook’s new…

Read More

FCA wants to ban Bitcoin crypto-derivatives

Crypto Money

Bitcoin trading ban? The Financial Conduct Authority (FCA) wants to stop retail customers from buying financial instruments that are tied to cryptocurrencies such as Bitcoin. The value of cryptocurrencies can be extremely volatile, which could potentially leave traders who invest in derivatives of crypto currencies with significant losses. Financial Conduct Authority The FCA “considers these products ill-suited to retail consumers who cannot reliably assess the value and risks of derivatives or exchange traded notes (ETNs) that reference certain crypto-assets,” the regulator said in a statement. Similar FCA rules introduced in…

Read More

Bitcoin falls below $10,000 after bursting through $14,000

Digital Money

Bitcoin cryptocurrency volatility update Bitcoin volatility continues. The cryptocurrency fell to a low of around $9,800.00 on Tuesday (2nd. July 2019), that’s approximately a $4,400 drop from its most recent high of $14,200 (26th. June 2019). Bitcoin started its plummet on Wednesday, crashing nearly $2,000 in minutes as a problem was allegedly reported at Coinbase, a cryptocurrency trading platform. Bitcoin has still managed to soar about 200% this year so far.

Read More

Facebook announces cryptocurrency contender, Libra

Facebook announces cryptocurrency contender, Libra. Main points Libra is due to launch early 2020 It will not be run by Facebook (according to Facebook). A new subsidiary company will be created, Calibra, enabling users to create digital wallets to buy, store and exchange the cryptocurrency. The name Libra originates from the Roman weight measurement. The abbreviation lb for pound comes from Libra, and the £ symbol originally comes from the L in Libra Unlike Bitcoin and other cryptocurrencies, Libra will be backed by government money. Facebook reports that 1.7 billion…

Read More

Bitcoin bursts through $14,000.00 only to dramatically drop $1,800.00 in minutes at markets close

Bitcoin

As U.S. markets closed Wednesday 26th June 2019 Bitcoin burst through $14,000.00 touching $14,200.00 – only to dramatically fall by $1,800.00 to $12,200.00 in minutes. Despite such a dramatic fall Bitcoin is still holding on to substantial gains at a 17 month high. But this incident does, however, demonstrate the potential volatility of trading Bitcoin. A $1,800.00 drop in 2 minutes, ouch! While Bitcoin’s price moves can be volatile – it is being suggested the current bitcoin bounce is linked to Facebook’s announcement of its own cryptocurrency project. Key technical…

Read More