Beset by rising regulatory pressure, bitcoin hovered around $40,000 on Friday, pausing its attempt to recover from this week’s massive plunge. bitcoin was little changed on the day at $40,256 on the Bitstamp exchange. That is roughly 30% above its Wednesday low, but below its 200-day moving average. Rival cryptocurrency ether also came under pressure,…
Bitcoin goes a bit crazy Fiat currencies are never this exciting. Bitcoin set its most recent high, of just under $65,000, on April 14. After that it had steadily given ground, and that became a headlong crash in the early hours of Wednesday morning. By 9 am New York time, Bitcoin hit $30,016 — a…
Digital payments major PayPal on Thursday said the technological shift brought in by blockchain and cryptocurrency can help democratise financial services and bring in greater financial inclusion. PayPal also highlighted that it has an offensive and defensive strategy for cybersecurity to ensure it can continue offering safe and secure user experience on its platform. PayPal…
Bitcoin regained some ground on Thursday from the previous session’s brutal slide to four-month lows but was weighed down by concerns over tighter regulation in China and unease over the extent of leveraged positions in the cryptocurrency world. Bitcoin, the biggest and most popular cryptocurrency, rose 8.75 per cent to touch $40,000, after plunging 14…
Indian cryptocurrency exchanges WazirX and CoinDCX suffered hour-long outages late on Wednesday as the price of Bitcoin, the world’s leading cryptocurrency, fell sharply to a multi-month low. Bitcoin has depreciated in value since Monday after Tesla CEO Elon Musk said that the electric car maker would no longer accept payments in Bitcoin because of concerns…
Bitcoin regained some lost ground to trade near $40,000 on Thursday, a day after a brutal selloff on concerns over tighter regulation in China and unease over the extent of leveraged positions in the cryptocurrency world. The biggest and most popular cryptocurrency rose 9% to a touch below $40,000, after plunging 14% on Wednesday to…
By Tommy Wilkes, Sujata Rao and Gertrude Chavez-Dreyfuss NEW YORK/LONDON (Reuters) -Cryptocurrencies that seemed to be defying gravity just weeks ago came back down to earth with a bump on Wednesday after a roller-coaster ride which could undermine their potential as mainstream investments. The two main digital currencies, bitcoin and ether, fell as much as…
The crypto bubble that inflated Bitcoin’s value past $1 trillion and added billions to nonsense digital tokens overnight is bursting. Bitcoin plunged almost 30 per cent to $31,000, wiping out more than $500 billion in value from the coin’s peak market value, before recovering to $37,000 leavls. It erased all the gains it clocked up…
Chinese regulators have tightened restrictions that ban financial institutions and payment companies from providing services related to cryptocurrency, marking a fresh crackdown on digital coins. Many of the new rules expand on previous restrictions aimed at cryptocurrencies and close loopholes that had allowed some finance and payment firms to continue in the trade. WHAT ARE…
The rout for the largest cryptocurrency continued on Wednesday, with Bitcoin erasing all of its gains since Tesla Inc.’s Feb. 8 announcement that it would use corporate cash to buy the asset and accept it as a form of payment for its vehicles — only for founder Elon Musk to reverse course. The digital token…
