Bitcoin tumbles after China warning
Bitcoin was last down 12 per cent to $38,180, setting a fresh low for the past 24 hours of $36,219 in a month that has left the No 1 cryptocurrency 31 per cent lower. Bitcoin hasn't traded below the $40,000 level since early February and is roughly 40 per cent below a mid-April record high of $64,829, the report said.
Global crypto market crosses $2tn for 1st time
Bitcoin alone has contributed more than $1 trillion after its price more than doubled in 2021 and is currently hovering around $57,000 per digital coin. The other key cryptocurrencies -- Ethereum, Binance Coin, Polkadot, Tether and Cardano -- have a combined value of about $422 billion.
Twitter CEO Dorsey's Square firm invests $170M in Bitcoin
Dorsey's company purchased about 3,318 bitcoins at an average price of $51,236, the company disclosed in its quarterly earnings report on Tuesday. The announcement has come at a time when the Bitcoin value has surged dramatically over the past few months, setting new records. The current price of a single bitcoin is just under $50,000.
Bitcoin jumps above $50,000 for first time ever
"Sustained interest from institutions has had a positive impact on Bitcoin's price, pushing it on an upward curve. In December 2020, it touched an all-time high crossing $24,000 in valuation, marking a 224 per cent increase from where it started its journey at the beginning of the year," Sumit Gupta, CEO and Co-founder, CoinDCX, said in a statement.
Elon Musk to fully support if major Dogecoin holders sell their coins
Dogecoin is a cryptocurrency invented by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system. Nearly 113 billion coins have already been mined. Amid the surge in Bitcoin and Ether cryptocurrencies, Dogecoin has surged more than 659 per cent this year.
Tesla invests $1.5 billion in bitcoin cryptocurrency
Tesla said it will also "begin accepting bitcoin as a form of payment for our products in the near future. The announcement comes amid renewed interest shown by Musk in cryptocurrency and requests from Tesla customers for accepting bitcoin for buying the cars.
Why surging Ether cryptocurrency is next best bet after Bitcoin
According to industry players, Bitcoin which is hovering around $40,000 is beyond the reach for most investors while Ether that has touched an all-time high is still within reach. "Now that Bitcoin has hit a record high and is consolidating, investors are adding Ether. Together the two cryptocurrencies constitute nearly 80 per cent of the total crypto market cap," Pagidipati said.
Indian cryptocurrency players in huddle as government mulls ban
Among the bills lined up for consideration during the Budget Session of Parliament is the 'Cryptocurrency and Regulation of Official Digital Currency Bill, 2021' that will create a facilitative framework for creation of the official digital currency to be issued by the Reserve Bank of India.
Bitcoin falls below $30,000 worst weekly loss in months
Two weeks ago, Bitcoin hit $42,000, but it is now down 30 per cent from that record high. According to reports, increasing calls for regulation is the reason Bitcoin has crashed so big. At a US Senate hearing earlier this week, Janet Yellen, US President Joe Biden's nominee for Treasury Secretary, suggested that lawmakers must "curtail" the use of cryptocurrencies such as Bitcoin over concerns that they are being used for illegal activities.
India to fast catch up as Bitcoin surges as key asset class
Bitcoin has already gained 25 per cent in January, following its more than 300 per cent gain in 2020. The second largest cryptocurrency 'Ethereum' has soared over the past 12 months reaching a total gain of 860 per cent last week, after trading above $1,200 for the first time since early 2018.