CRYPTO CURRENCIES TUMBLE
Dollar eyes best week against yen in three months; cryptos leap
The dollar stood near a one-year high at 151.38 yen on Friday and touched one-week highs against the Australian and New Zealand dollars.
Lawyers land $700 million bounty from crypto collapse
Lawyers, accountants, consultants, cryptocurrency analysts and other professionals have racked up more than $700 million in fees since last year from the bankruptcies of five major crypto firms, including the digital currency exchange FTX, according to a New York Times analysis of court records. That sum is likely to grow significantly as the cases unfold over the coming months.
Cryptoverse: Digital coins lure inflation-weary Argentines and Turks
Ownership of digital currencies in Turkey was the highest in the world at 27.1% followed by Argentina at 23.5% -- well above global crypto ownership rate estimated at 11.9% -- according to data from research firm GWI.
EU parliament backs world's first comprehensive rules for crypto assets
EU states have already given the nod to the rules which will be rolled out from mid 2024, requiring firms that offer cryptoasset services in the bloc to be licensed by EU regulators.
Silvergate’s ‘worst-case scenario’ fuels wider concern on Crypto
The stunning collapse of Sam Bankman-Fried’s FTX crypto empire, followed by his arrest in the Bahamas and extradition to the US last month, is rippling through parts of the banking industry
Crypto winter doesn't seem to end anytime soon for investors
Most Indian crypto investors like Verma see-sawed between hope and despair in a turbulent year as they dealt with multiple bankruptcies, collapses and persistent market volatility.
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Crypto will spark next financial crisis, says RBI guv; digital sector outpaced overall economy by 2.4x in 2014-19: study
Cryptocurrencies will be responsible for the next financial crisis if allowed to proliferate freely, Reserve Bank of India governor Shaktikanta Das said on Wednesday. The financial regulator recently launched pilots for retail and wholesale versions of India’s central bank digital currency, the digital rupee, which it hopes will serve as a bulwark against crypto.
Cryptoverse: Jump or slump? $30k or $5k? Play the bitcoin roulette
Battered bitcoin's been unresponsive since being clobbered by the FTX collapse, taking in a deep ragged breath before plunging towards the depths of $5,000.
Crypto Price Today: Bitcoin regains $16k; Litecoin, Solana & Dogecoin gain up to 24%
The global cryptocurrency market cap was trading higher around $820 billion, rising as much as 4% in the last 24 hours. However, the total trading volume dropped almost 6% to $62.21 billion.
Dollar advances ahead of inflation data; cryptos crumble
Investors now have their eyes on the closely watched U.S. inflation figures due later on Thursday, in which a strong price rise would likely reinforce the Federal Reserve's aggressive campaign in tightening monetary policy.
Crypto Price Today: Bitcoin breaches $21,000; Solana & Dogecoin tank up to 9%
Sathvik Vishwanath, Co-Founder CEO, Unocoin said the Fed raised interest rates by 75 basis points and warned that further increases in borrowing costs would be needed to fight inflation. Employment data from the United States will significantly affect the cryptocurrency market as a whole.
Crypto Price Today: Bitcoin regains $19K; Ethereum rises but altcoins tank
The prospects of QNT look promising as it's over ledger technology which is being looked at by central banks around the globe for their CBDC operations. The current rise of CBDCs will create more growth prospects for QNT and it can be looked at as a long-term investment option based on the risk appetite of investors.
Crypto Price Today: Bitcoin holds $19K; XRP, Solana, Polygon gain up to 9%
The Enforcement Directorate (ED) has frozen Rs 21.14 crore of online forex trading app OctaFX and related entities in various bank accounts after carrying out searches at their premises over allegations that the private firm's activity was in contravention of Foreign Exchange Management Act (FEMA).
Bitcoin holds $24,000; Dogecoin, Shiba Inu & XRP rise up to 8%
The positive news around DOGE which positioned it as a payment currency may have sparked investor interest in the meme coin. DOGE is a strong contender for integration into the global payment mechanism and it needs to find a real-world use case very soon.
Smartkarma Research: Crypto mining industry series: Time to focus on efficient crypto miners
In July, crypto assets bottomed and stabilized after heavy losses, but we think crypto winter is here to stay. Therefore, we model an average BTC price of $35K in 2022 and $25K in 2023 under the bear case scenario. At the same time, we forecast that the average BTC price will reach $45K in 2025 and $50K in 2026.
Why only blame Terra! These crypto tokens have tumbled more than 90% from their peaks!
These are truly testing times for crypto investors as global concerns over inflation, increasing interest rates and a strengthening dollar have impacted the altcoin market," he said.Not only them, other major altcoins have lost over 90 per cent of their value from their respective peaks. Solana, Polkadot, Avalanche, Axie Infinity and Polygon are some of the key inclusions in this wealth eroders’ list.
Bonfire of bitcoin: Why crypto assets are tumbling
Bitcoin is the premier cryptocurrency and its value accounts for the lion's share of the whole sector. This week, its price at one stage plummeted to $25,500 -- less than half of its record price in November last year and the lowest valuation since it exploded at the end of 2020.
Expect a bear rally before markets fall further: BofA
"Fear and loathing suggest stocks prone to imminent bear market rally but we do not think ultimate lows have been reached", the team led by Chief Investment Strategist Michael Hartnett argued.
Commodity currencies hit by tumbling oil prices
Falling commodity prices dragged the Australian and Canadian currencies lower on Tuesday, although the dollar was steady against most other majors while bitcoin continued to tumble. The Aussie dollar dropped as low as $0.6920, its weakest since July 2020, having fallen 1.7% overnight, which analysts at CBA attributed to declines in global asset prices.
Bitcoin falls to 10-month low as stock markets tumble
The cryptocurrency has dropped 13% so far in May and has lost more than half its value since it hit an all-time high of $69,000 in November last year.
Will cryptocurrency market be volatile in 2022? What investors can expect, basic rules to follow
Cryptocurrencies are a new investment class, with very little data for fundamental analysis. Here are some basic rules to keep in mind when entering this high-risk area.
Bitcoin barrels into ‘Death Cross’ as chartist backdrop darkens
On Tuesday, Bitcoin tumbled as analysts pointed to a technical breakdown as well as the recovery of Colonial Pipeline Co.’s ransom as evidence that crypto isn’t beyond government control. The U.S. recovered almost all the Bitcoin ransom paid to the perpetrators of the cyber attack on Colonial last month in a sign that law enforcement is capable of pursuing online criminals even when they operate outside the nation’s borders.
View: Fairy tales can come true. Or maybe only Bitcoin
True believers take heart! Other investments require even greater leaps of faith. You can do a lot worse than Bitcoin.
Crypto miners halt China business after Beijing cracks down, bitcoin tumbles
A State Council committee led by Vice Premier Liu He announced the crackdown late on Friday as part of efforts to fend off financial risks. It was the first time the council has targeted virtual currency mining, a big business in China that accounts for as much as 70 per cent of the world's crypto supply.
Crypto miners halt China business after crackdown, bitcoin tumbles
Bitcoin took a beating after China's crypto-mining ban and is now down nearly 50% from it's all-time high. The latest shakeout in digital currencies also stems from tighter scrutiny in the United States.
Crypto limps to weekend after hammer blows from Musk, China, tax
This week’s swings led to huge liquidations by leveraged investors and damaged the narrative that cryptocurrencies will become more stable as the sector matures. Musk’s actions showed how a few tweets can still upend the entire market.
$600 billion wiped out! Crypto tumble is becoming very painful
The value of more than 7,000 tokens tracked by CoinGecko has shrunk more than $600 billion in the past week to $1.9 trillion.
Dogecoin surges on Elon Musk tweet as crypto rollercoaster continues
After Musk tweeted on Thursday that he is working with Dogecoin developers to “improve system transaction efficiency,” the Shiba-Inu-themed token with no practical uses surged from about 43 cents to 51 cents in a matter of minutes.
Elon Musk sends Bitcoin tumbling with shock U-turn on payments
The largest cryptocurrency dropped as much as 15% in Asian trading, sliding below $50,000, before paring some of the drop. It was down about 8% to $50,190 as of 10:53 a.m. in Tokyo. The were reports of outages at digital-token exchanges as people rushed to sell.
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