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Bitcoin
Bitcoin plunges below $20K, may reach $10K level this year
Bitcoin initially showed little reaction to Powell's remarks, but then nosedived sharply and on Sunday, it was hovering around $19,975 per digital coin which is more that 60 per cent drop in its value since last year when it reached a record-high of $68,000 in November. Bitcoin prices had stabilised around the $23,000 to $24,000 level after plunging below $20,000 in June.
IAMAI dissolves Blockchain & crypto council amid regulatory uncertainties
The association created and nurtured BACC for four years. The IAMAI said that it was forced to take the decision in light of the fact that a resolution of the regulatory environment for the industry is still very uncertain. Several crypto lending and trading platforms have filed for bankruptcy, laid off employees and frozen withdrawals, deposits and other transactions on their platforms, and cryptocurrencies crash in the global economic meltdown.
Coinbase sold software to US authorities to track crypto transactions
According to a report in Intercept, Coinbase sold an analytics software license to ICE for $29,000 in August last year, followed by a software purchase potentially worth $1.36 million the next month. "ICE now has access to a variety of forensic features provided through Coinbase Tracer, the company's intelligence-gathering tool (formerly known as Coinbase Analytics)," the report said on Thursday.
Bitcoin investor Roger Ver owns us $47 mn: CoinFlex CEO
CoinFlex froze crypto withdrawals on June 27, saying that it would restart withdrawals on June 30 with a condition that it needs to sell tokens related to a debt owed by a "certain high net worth individual". It then did not name Ver, also known as Roger "Bitcoin Jesus" Ver. Now, in a tweet late on Tuesday, Lamb revealed his name.
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Bitcoin heading to zero, China warns investors
The warning came as the cryptocurrency market continued to face meltdown with Bitcoin hovering around $21,000 per digital coin on Saturday -- a substantial drop from its record high of $68,000 in November last year. "Bitcoin is nothing more than a string of digital codes, and its returns mainly come from buying low and selling high," the newspaper said.
Bitcoin falls below $18K, Ethereum down 80% in freezing crypto winter
Overall, the prices of top cryptocurrencies declined as much as 35 per cent last week in the wake of economic recession fears. The global market cap of cryptocurrencies sank below $850 billion, which recently hovered over $1 trillion. The second-largest Ethereum cryptocurrency fell below $1,000 on Sunday, down nearly 80 per cent since its all-time-high in November last year.
Bitcoin falls to record-low of $21K over worrying inflation data
It was hovering around Rs 20,000-Rs 21,000 per BTC as the global crypto market crashed owing to the weak macroeconomic environment and systemic risk from within the crypto space. Bitcoin has fallen for nearly 12 straight weeks, from nearly $49,000 in March to around $21,000. It showed some signs of bottoming out in mid-May but worrying US inflation data did "little to cushion falling sentiment", reports Coindesk.
Over 75% of Bitcoin miners' earnings going into soaring electricity costs
Bitcoin (BTC) mining is a very electricity-intensive process. A recent study has shown that a single Bitcoin transaction consumes about 2165 kWh of electricity which a regular household in the US would use in 74 days. "Factor in the roughly $0.14/kWh that an average household pays, and the magnitude of expenditure becomes evident," according to the report from CryptoMonday.de.
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Mayhem in crypto market as Bitcoin drops below $30,000-mark
Bitcoin was more than 55 per cent down since its all-time high of $69,000 in November last year. Other digital coins also suffered double-digit-percentage drops, led by Cardano (20 per cent), Solana (16 per cent), XRP (13 per cent), BNB (16 per cent), and Ethereum (10 per cent), Decrypt reported. Experts said that rising interest rates, along with weakening economic activity, has created a risk-off environment.
Bitcoin value drops by 50% since November peak
The world's largest cryptocurrency by market value has now fallen by 50 per cent since its peak in November last year. The slide in the value of digital assets comes as stock markets around the world also dropped in recent days. On Monday, some Asian markets headed lower again with Japan's benchmark Nikkei index down by around 2 per cent.
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