Most of the top 10 cryptocurrencies are down by between 2 to 4 per cent in the last 24 hours.
Bitcoin’s price is down to about $58,000, after a week of maintaining its value above the mark with the rollout of the long-awaited Taproot update last weekend that improved both the privacy and security of BTC.
The price fall since last week has wiped more than a hundred billion dollars from the overall crypto market, though it remains above $2.5 trillion.
You can follow all the latest news, analysis and expert price predictions right here.
‘Bitcoin is better than gold’ says tech boss
Bitcoin price crashes below $60k
03:17 , Vishwam Sankaran
The prices of several cryptocurrencies, including bitcoin and ethereum have dropped by over 2 per cent in the last 24 hours.
The overall crypto market is also down by over 2 per cent in the last day and is currently valued at about $2.58 trillion.
Bitcoin has dropped in value by nearly 2.5 per cent while ethereum and cardano are also down by over 4 per cent in the last 24 hours.
While solana is up by more than 5 per cent in the last day, it is still down by nearly 7 per cent compared to its value a week earlier.
Meme coin dogecoin and its spinoff cryptocurrency shiba inu are also down by more than 3 per cent in the last 24 hours.
The chart still looks red with no signs of recovery yet.
Bitcoin adoption receives boost from crypto cashback scheme
Thursday 18 November 2021 20:20 , Anthony Cuthbertson
Dozens of UK retailers are reportedly set to offer customers cashback in the form of bitcoin for online purchases.
Millions of customers will benefit from the loyalty scheme, according to fintech firm Mode, who will grant up to 10 per cent cashback from 2022.
“This marks a major step in making the asset class more accessible to consumers of all demographics, ultimately bringing bitcoin into the hands of millions of customers across the UK,” said Mode CEO Ryan Moore.
You can read the full story here:
Has bitcoin price bottom been hit?
Thursday 18 November 2021 18:42 , Anthony Cuthbertson
Bitcoin briefly reached below $57,000 but now appears to be trending upwards, with many hoping this could be the end of the price slide.
During that tumble, we received a new survey from uk.investing that found nearly three quarters of bitcoin investors believe it will still hit a new all-time high above $70,000 before the end of 2021.
“A new generation of investors, which entered the market after the rise of commission-free trading during the pandemic, is turning the crypto space on its head,” Jesse Cohen, senior analyst at uk.Investing.com, told The Independent. “They’re much more likely to invest in risky cryptocurrencies than the older generation and they’re doing their own research on platforms like Twitter, Reddit and TikTok, instead of paying attention to the Wall Street experts.”
Bitcoin price slide continues
Thursday 18 November 2021 16:51 , Anthony Cuthbertson
Bitcoin is now below $58,000, marking a $10,000 price fall since the all-time high it experienced last week.
It dipped as low as $57,372.51, according to CoinMarketCap’s price index, and there is no immediate sign that the slide is yet over.
Ethereum (ether) is also testing the psychological barrier of $4,000, having fallen more than 5 per cent over the last 24 hours. The biggest losses of the leading cryptos comes from Solana, which is now down more than 10 per cent since this time yesterday.
We’ll have some expert reaction to the latest losses coming up...
Bitcoin bulls ready for ‘Moonvember'
Thursday 18 November 2021 15:41 , Anthony Cuthbertson
As bitcoin continues to drop in price – it’s currently holding just above $58,000 – some of its staunchest and most optimistic advocates appear completely unfazed by the downward market movement.
The aptly named Dan Held, who founded the cryptocurrency exchange Kraken, is hopeful that BTC will still see new record highs before the end of the month. With just 12 days to go, bitcoin will need to shoot up by $1,000 every day to realise this.
Who is ready for moonvember? 🤚
— Dan Held (@danheld) November 18, 2021
Bitcoin price dips below $59k
Thursday 18 November 2021 13:39 , Anthony Cuthbertson
Bitcoin has fallen out of the $59,000-$61,000 channel that it has been trading within over the last couple of days, dipping just below it to reach its lowest level since late October.
There is no immediately clear reason for the drop in value, though it represents a fall of only a couple of per cent since this time yesterday.
Investors will be watching closely over the next couple of hours to see if that downwards momentum is sustained or whether it is once again testing its bottom limit.
Huge bitcoin sale by US Justice Department
Thursday 18 November 2021 13:13 , Anthony Cuthbertson
The US Justice Department is selling $56 million worth of cryptocurrency seized during its investigations into BitConnect.
Thousands of people were scammed out of an estimated $2 billion worth of bitcoin in 2017, in what the department described the as “the largest single recovery of a cryptocurrency fraud by the United States to date”.
The cryptocurrency sold will go towards compensating the victims, who have been encouraged to visit the Department of Justice’s website for information on how to make a claim.
Bitcoin holders from 2017 ‘refusing to sell'
Thursday 18 November 2021 09:34 , Anthony Cuthbertson
People who bought bitcoin at the height of the 2017 bull run are refusing to sell their holdings in 2021, new data has shown, despite the cryptocurrency hitting new record price highs.
Metrics from HODL Waves, first noted by CoinTelegraph, show that investors who entered the market when BTC was priced at $20,000 or below are yet to cash in on their profits in any significant number.
“Seeing dormancy flow currently so low means older coins remain relatively dormant,” wrote crypto analyst Will Clemente on Twitter. “This bitcoin bull market still has a ways to go according to the metric.”
High dormancy = High spending of older coins.
Dormancy flow is market cap / Annualised dormancy (measured in USD)
Seeing dormancy flow currently so low means older coins remain relatively dormant. This Bitcoin bull market still has a ways to go according to the metric. pic.twitter.com/C9c05m4fqo
— Will Clemente (@WClementeIII) November 17, 2021
Thursday 18 November 2021 03:28 , Vishwam Sankaran
The prices of several cryptocurrencies including Bitcoin and Ethereum have slightly improved after Tuesday’s flash crash with the global crypto market increasing in value by about 4 per cent in the last 24 hours.
Bitcoin has grown by over 2 per cent in the last day and is currently valued at about $60,500 – much lesser than its pre-crash value of over $65,000.
Ethereum has also risen in value by nearly 5 per cent in the last 24 hours, but is still down by over 7 per cent compared to its price a week earlier.
Other leading cryptocurrencies including solana, cardano, and polkadot have also grown in the last 24 hours but are still valued less compared to their prices 7 days earlier.
Meme coins dogecoin and shiba inu are also showing signs of recovery post the Tuesday crash.
While the top 10 leading cryptocurrencies are showing signs of recovery, the overall crypto market is yet to catch up to its pre-crash value.
Is bitcoin better than gold?
Wednesday 17 November 2021 20:43 , Anthony Cuthbertson
Following the comments from MicroStrategy CEO Michael Saylor yesterday that “bitcoin is better than gold”, we’ve had some reaction from analysts both reasserting and refuting the claim.
In the latter camp is Jai Bifulco from the Kinesis Money platform, which uses precious metals like gold and silver as the basis for digital currencies.
Here’s what he had to say:
Bitcoin should not be likened to gold. They remain very different, and bitcoin is not a proven hedge against inflation. Unlike gold, the price of bitcoin is extremely volatile, as it has demonstrated many times in its brief history. Cryptocurrency bull runs are indeed tempting, but they are very unpredictable and suggesting bitcoin is like gold gives investors a false sense of security.
Gold is the universal constant and, relative to weakening fiat currencies, it will do what it always has done as a stable and enduring store of value, hedge against inflation and currency devaluation.
Jai Bifulco, CCO Kinesis Money
Bitcoin price pullback over?
Wednesday 17 November 2021 19:11 , Anthony Cuthbertson
With bitcoin tentatively returning back above $60,000 – though still within the $59,000 to $61,000 range – some analysts are hopeful that the price correction may be over.
Katie Stockton, founder and managing partner of Fairland Strategies, believes technical indicators are signalling “signs of intraday downside exhaustion”, meaning the pullback could be over.
“Short-term oversold conditions are within reach for bitcoin, ether, and many altcoins, so we would look for their collective pullback to mature later this week,” Stockton wrote in a note shared with MarketWatch.
Bitcoin price in limbo
Wednesday 17 November 2021 16:05 , Anthony Cuthbertson
The price of bitcoin briefly rose above $60,000 earlier but has since dipped back below.
It has now traded within the relatively narrow band between $59,000 and $61,000 for the last 24 hours. Investors will be keeping a close eye on which way it breaks out, as the direction could prove telling for the short-to-medium term momentum of BTC and the overall crypto market.
Bitcoin Fear & Greed Index flips to neutral
Wednesday 17 November 2021 13:44 , Anthony Cuthbertson
The Bitcoin Fear & Greed Index has switched to neutral today for the first time in more than a month.
The index aims to measure market sentiment by analysing various factors, including emotions across social media. It has been trending on ‘Greed’ for the last few weeks and was ‘Extreme Greed’ in October.
Crypto author Glen Goodman is one of several bitcoin analysts to suggest that the change is a positive thing for the market.
Perth Heat baseball team becomes first professional sports club to pay players and staff in bitcoin
Wednesday 17 November 2021 12:13 , Anthony Cuthbertson
Australian Baseball League team Perth Heat has announced that it will become the first professional sports outfit to pay its players and staff in bitcoin.
From Friday, salary payments will be using the cryptocurrency, while fans will also be able to buy merchandise, tickets and club membership with BTC.
The ‘Bitcoin Baseball Team’ has appointed a chief bitcoin officer to usher in the change and shift the team’s corporate treasury from Australian dollars to bitcoin and “Hodl bitcoin on the club’s balance sheet”.
You can read the full story here.
Bitcoin price dips below $59k
Wednesday 17 November 2021 10:54 , Anthony Cuthbertson
The price of bitcoin has fallen below $59,000 on Wednesday morning, reaching its lowest point since late October.
It marks a trend for most of the leading cryptocurrencies, with Ethereum (ether), Cardano (ada) and Solana (SOL) all slipping slightly further from the heavy losses they saw yesterday. Losses over the last 24 hours average around 2 per cent.
The combined price drops have pushed the overall crypto market back to the $2.5 trillion level, which is still up more than 250 per cent since the start of the year.
Bitcoin is better than gold, Michael Saylor says
Tuesday 16 November 2021 15:14 , Anthony Cuthbertson
As bitcoin continues to steadily clamber back the losses it suffered earlier today – it just returned above $61,000 – MicroStrategy boss Michael Saylor has claimed that the cryptocurrency is better than gold.
Under his leadership, the software company has become the biggest corporate investor in bitcoin, holding roughly $7 billion worth of the cryptocurrency.
It means the company’s value tends to fluctuate with the price of BTC, put this hasn’t put Saylor off his belief that bitcoin is a better store of value over the long term than traditional assets like gold.
— Michael Saylor⚡️ (@saylor) November 16, 2021
Tuesday 16 November 2021 14:23 , Anthony Cuthbertson
Bitcoin continues to hold above the $60k mark, but only just.
As is customary following sudden price falls, the staunchest BTC advocates and most optimistic bulls are celebrating the opportunity to “buy the dip” and stock up on the cryptocurrency while its price is relatively cheap – at least compared to last week.
I’ve lost count of how many times bitcoin and other altcoins have suffered flash crashes during the various market rallies in 2021. It seems I’m not the only one:
"How many times did you buy the dip in 2021?"
— Matt (@WaitIamMe) November 15, 2021
If it is just a dip, and not a sustained drop, then the key is always timing:
— noo (@alugalugg) November 16, 2021
Bitcoin price bounces back above $60,000
Tuesday 16 November 2021 11:55 , Anthony Cuthbertson
Bitcoin is back above $60,000 – at least for now.
It is currently trading at around $60,500, having achieved the first significant reversal of this dip. The next hour or so will prove crucial to see whether the recovery can be sustained .
Crypto crash caused by ‘excessive optimism’
Tuesday 16 November 2021 11:24 , Anthony Cuthbertson
Social media is filling with hot takes from analysts and market commentators on what caused the crypto crash.
Market analyst and crypto author Glen Goodman believes bitcoin’s latest dip is caused by “excessive optimism”.
He tweets: “Corrections last as long as it takes for most traders to start losing hope and stop buying dips.”
The current #crypto market correction is caused by excessive optimism. Every time the leveraged bulls get flushed out, they start buying futures on leverage again almost immediately.
Corrections last as long as it takes for most traders to start losing hope and stop buying dips.
— Glen Goodman (@glengoodman) November 16, 2021
The current bitcoin Fear and Greed Index, which measures crypto market sentiment, is currently swinging more towards greed than fear.
BREAKING: Bitcoin price plunges below $60k
Tuesday 16 November 2021 10:27 , Anthony Cuthbertson
Bitcoin has dropped below $60,000, taking the total price losses to more than 10 per cent in this latest crash.
It is the first time since late October that BTC has fallen below this level, and it is not yet clear where the bottom of this dip is.
The world’s most valuable cryptocurrency fell to $59,016, according to CoinMarketCap’s price index, though it is too early to tell if there is any significant support at this level to prompt a rebound.
Bitcoin price crash explained
Tuesday 16 November 2021 09:43 , Anthony Cuthbertson
At this stage, there doesn’t appear to be one single reason for this mini price crash, with several factors potentially coming into play. There was the rejection by the SEC of the spot bitcoin ETF at the end of last week, though that had little market impact at the time and there are several more in the pipeline.
China has also tightened restrictions on crypto mining, though the crackdown earlier this year means the number of operations left in the country are negligible.
Finally, there is the possibility that long-term holders are taking the opportunity of the recent all-time high to skim off profits from their stash. A falling price also brings out the panic sellers, who are typically new to cryptocurrency investing and more prone to being spooked by sudden market movements.
Tuesday 16 November 2021 03:59 , Vishwam Sankaran
Bitcoin has plunged by over 6 per cent in the last 24 hours as the overall crypto market has lost over 7 per cent of its value in the last day.
The price of several leading cryptocurrencies including bitcoin, ethereum, solana, and cardano have plunged by 6 to 8 per cent in the last day, with the global crypto market valued at about $2.65 trillion.
Meme coins dogecoin and its spinoff shiba inu have also dropped in value by over 5 per cent in the last 24 hours.
The chart is all red with no signs of recovery yet.
Satoshi Nakamoto’s net worth among world’s wealthiest
Monday 15 November 2021 18:20 , Anthony Cuthbertson
Bitcoin’s record-breaking price rally means Satoshi Nakamoto is now in the top 15 of the wealthiest people on the planet.
The mysterious bitcoin creator has anywhere between 750,000 and 1.1 million bitcoins in their various crypto wallets, which haven’t been touched since 2010. In that time, their value has risen by more than 10 million per cent, giving a US dollar value of up to $73 billion.
There is also a legal battle currently underway in Florida seeking to uncover the true identity of Nakamoto.
You can read the full story here.
PlanB says $135k price prediction ‘still in play'
Monday 15 November 2021 14:59 , Anthony Cuthbertson
Pseudonymous Dutch analyst PlanB has said his “worst case scenario” price prediction model is still on track.
The forecast, which he made back in June when bitcoin was below $34,000, puts BTC on course to hit $98,000 before the end of November before going on to reach $135,000 next month.
This would require a 50 per cent price rise over the next two weeks, which seems inconceivable unless you look at previous record-breaking rallies. Bitcoin is already up more than 300 per cent since this time last year and has already seen monthly gains of more than 50 per cent during the 2021 bull run.
You can read the full story here:
Bitcoin receives biggest upgrade in four years
Monday 15 November 2021 10:34 , Anthony Cuthbertson
Bitcoin has received a major upgrade to its network through the roll out of the long-awaited Taproot update.
It is the biggest improvement to bitcoin’s underlying network since 2017 and will serve to bolster the privacy and security of the cryptocurrency.
The upgrade will also unlock the possibility of smart contracts through bitcoin’s network, while also improving scalability – a crucial element for BTC to succeed as a mainstream form of currency, as it has become in El Salvador.
Here’s what Paolo Ardoino, CTO at the crypto exchange Bitfinex, told us about what the Taproot upgrade means for bitcoin:
Bitcoin’s Taproot upgrade comes timely as development on the bitcoin blockchain has been accelerating quickly this year. Taproot will deliver more scalability, privacy and smart contract functionality on the bitcoin blockchain and greatly expands upon what has been possible so far.
We can expect Taproot to unlock the power of Lightning Network to bring true scalability to the bitcoin blockchain, readying it for use in more complex operations.
Paolo Ardoino, Bitfinex
Friday 12 November 2021 03:08 , Vishwam Sankaran
The prices of several cryptocurrencies, including bitcoin, ethereum, and dogecoin have grown in the last 24 hours with the overall crypto market increasing in value by about 2.5 per cent in the period.
Bitcoin, whose price steeply declined early Thursday – dropping in value by nearly $3,000 – has since stabilised and is currently valued at about $65,000.
Ethereum, which also experienced a sharp price dip during this period after record highs on Wednesday, is inching back to the $4,800 mark.
Solana and cardano, whose values rose on Thursday, have since dropped to their respective prices 24 hours earlier.
Dogecoin has grown by about 2 per cent in the last day while shiba inu, which has surged by about 17 per cent in the last week, is up by about 8 per cent in the last 24 hours.
The global crypto market is priced at about $2.87 trillion, and the chart looks mostly green with signs of growth.
Southampton FC creates first ever ‘Crypto Fan Fund’ with bitcoin donation
Thursday 11 November 2021 19:01 , Anthony Cuthbertson
Premier League club Southampton FC has launched a first-of-its-kind ‘Crypto Fan Fund’.
Considering the size of the club, it is a relatively modest 2 BTC ($130,000), which comes courtesy of the football club’s shirt sponsor Sportsbet.io.
“The donation of cryptocurrency in this way is a major first within elite sports partnerships,” a press release stated. “Unlike traditional fiat donations, the value of the fund can shift and increase in line with the market, allowing for the potential of greater investments in future seasons.”
Muslims told to stop using bitcoin in Indonesia
Thursday 11 November 2021 15:04 , Anthony Cuthbertson
Muslims in Indonesia have been told to stop using cryptocurrencies by the country’s authority on religious compliance.
It is not an official ban on bitcoin, and crypto trading is still officially legal, but religious leaders claim that cryptocurrencies contain elements of uncertainty, wagering and harm, and are therefore not halal.
Crypto trading is hugely popular in Indonesia, with data from regulators in the country revealing earlier this year that there are around 4.45 million cryptocurrency investors – more than double the number of stock investors.
You can read the full story here.
Binance suspends Doge network withdrawals
Thursday 11 November 2021 12:53 , Anthony Cuthbertson
Leading crypto exchange Binance has just announced that it has been forced to temporarily suspend Doge network withdrawals from its platform.
“We discovered a minor issue with DOGE network withdrawals on Binance after carrying out a version update on 2021-11-10,” a note on the firm’s website states.
“As a result, we have temporarily suspended DOGE network withdrawals until this issue is resolved. Binance is actively working with the DOGE project team to resolve the issue.Please note that DOGE network withdrawals will remain closed until this is fixed. Users are still able to withdraw DOGE on other networks during this time.”
Twitter becomes latest firm to add ‘crypto division'
Thursday 11 November 2021 11:25 , Anthony Cuthbertson
Twitter has announced a new cryptocurrency division in order to “push the boundaries of what’s possible with identity, community, ownership and more”.
Twitter Crypto will be used to develop digital currencies, blockchain technology and “other decentralised technologies” for the social media firm, which recently added cryptocurrencies to its Tips feature.
CEO Jack Dorsey, who’s Twitter bio simply states “Bitcoin”, recently launched BTC startup called TBD to “help [Twitter] build an open platform to create a decentralised exchange for bitcoin”.
You can read the full story here:
Mini price crash prompts calls to ‘buy the dip'
Thursday 11 November 2021 11:13 , Anthony Cuthbertson
As has now become common throughout this record-breaking market rally, the latest flash crash has led to semi-ironic celebrations across social media and bitcoin forums to “buy the dip”.
One popular post on r/Bitcoin stated: “Time to stock up while it’s on sale!”
Even famed whistleblower Edward Snowden, who last tweeted bout buying bitcoin in March 2020 when it briefly crashed below $5,000.
With a new record high yesterday, every single flash crash so far in 2021 has proved to be a “flash sale”, as every time it has recovered to another al-time high.
Eventually, however, market momentum may run out, and the crash could take years, rather than days or months, to fully recover.
— PJ-tweet (@AktieHyenan) November 11, 2021
Bitcoin and Ethereum flash crash in unison
Thursday 11 November 2021 10:47 , Anthony Cuthbertson
Bitcoin and Ethereum have mirrored each other’s price movements overnight, both suffering a flash crash before steadying.
Several other leading cryptocurrencies have copied this pattern, including Cardano (ada), Ripple (XRP), Solana (SOL) and Polkadot (DOT).
It’s pushed the overall crypto market back below $2.9 trillion, however by its own notoriously volatile standards it’s barely more than a blip. Whether it’s the start of something more serious will be determined within the next few hours, though BTC and ETH remain within 5 per cent of their all-time highs.
Bitcoin price of $69,420 next target
Wednesday 10 November 2021 16:40 , Anthony Cuthbertson
Bitcoin forums and social media platforms are filling with calls to pump the price to $69,420 in order to achieve the cryptocurrency’s “prophecy”.
The target represents the two favourite numbers of online meme boys and edgelords: one being a sex position and the other being weed slang. Bitcoin advocate Elon Musk has previously used the number as the price for one of his Tesla vehicles.
One user on the popular sub-Reddit called on fellow investors to “Hodl Hodl” until the price is reached, with the post receiving hundreds of upvotes.
$69420 represents Sex, Weed, 21M, Meme and #Bitcoin.
Once we reach this, Hyperbitcoinisation Prophecy will be fulfilled.
— Vivek⚡ (@Vivek4real_) November 9, 2021
$69,420 bitcoin price will break the internet.
— Pomp 🌪 (@APompliano) October 15, 2021
BREAKING: Bitcoin price breaks new record
Wednesday 10 November 2021 14:27 , Anthony Cuthbertson
Another day, another all-time high. Bitcoin is on a roll this week, reaching above $68,500 on CoinMarketCap’s price index just now to break another record.
Ethereum has also followed suit, hitting its own record high just a few minutes later, while Binance Coin has surged more than 20 per cent over the last 24 hours to close in on its own record.
The overall crypto market is now tantalisingly close to $3 trillion, clocking in at $2.96 trillion.
You can read the full story here:
Early bitcoin followers lament losses and missed opportunities
Wednesday 10 November 2021 13:57 , Anthony Cuthbertson
With bitcoin hitting a new all-time high this week, a few tweets from the early days of bitcoin have been doing the rounds on social media.
From not buying, to selling way too soon, people have either missed out on fortunes or lost them completely.
After bitcoin shot up from $0.30 to $8 in 2011, Greg Schoen posted his regret at selling his stash of 1,700 BTC for $500 instead of $13,600. Today that stash would be worth more than $100m.
I wish I had kept my 1,700 BTC @ $0.06 instead of selling them at $0.30, now that they're $8.00! #bitcoin
— Greg Schoen (@GregSchoen) May 16, 2011
In October 2011, when 1 BTC was worth less than $3, gamer Nick Allen wrote that he was “so glad” he didn’t buy in on “that mess”. He followed that tweet up earlier this year with: “I’m such an idiot.”
If he’d just bought $40 worth of bitcoin back then, he’d have $1m today.
When a Twitter user asked if he was still alive, he replied: “Alive but dead inside.”
Shiba Inu millionaire retires from warehouse
Wednesday 10 November 2021 12:00 , Anthony Cuthbertson
Speaking of meme coins, dogecoin rival Shiba Inu has also failed to capitalise on the recent market momentum and is down significantly from the all-time high it saw at the end of October.
Despite this, it remains orders of magnitude more valuable than it was at the start of the year, with a new report revealing that one supermarket warehouse worker in the north of England made enough money to retire at the age of 35 from just a £6,000 investment.
You can read the full story here.
Dogecoin price set for 10,000 per cent gains?
Wednesday 10 November 2021 09:47 , Anthony Cuthbertson
Amid the record-breaking crypto market rally, one cryptocurrency has remained unusually quiet, with dogecoin continuing to trade within the $0.20-$0.30 price range and shifting in value by less than 1.5 per cent over the last seven days.
A new study suggests this stability may not last long, as the original meme coin apparently holds the highest growth potential of all the leading cryptocurrencies.
A 10,000 per cent price rise would push dogecoin above $25 by 2030, according to estimations from investment management group Cipher Technologies.
Bitcoin price consolidation or correction?
Wednesday 10 November 2021 09:33 , Anthony Cuthbertson
Bitcoin’s slight dip in price this morning is no surprise, given it tends to fall slightly following an all-time high as investors take the opportunity to skim off profits and buyers wait for an opportunity to buy in at a slightly lower level.
This then transitions into a period of consolidation, where BTC remains relatively steady, or a major price correction that sees its value tumble.
Experts we’ve heard from this morning appear to be subscribing to the former theory, with the UK head of one crypto exchange telling us it seems the outlook for the crypto market is broadly positive – but could hinge on some key news coming up.
“It’s been a good start to the week for the crypto markets,” says Sam Kopelman, UK manager of Luno. “The growing optimism in Bitcoin could be down to the upcoming deadline for the SEC response to VanEck’s spot based bitcoin ETF on 14 November, with traders trying to front run any good news.”
Galina Likhitskaya from the smart contract audit company HashEx adds: “There is a positive sentiment that often engulfs the crypto markets toward year-end. This sentiment is billed to favour both Bitcoin and Ethereum which the former may hit a high of $80,000 and the latter, a top of $5,500 by the end of 2021.”
Wednesday 10 November 2021 03:21 , Vishwam Sankaran
The prices of several cryptocurrencies including bitcoin, ethereum, and solana have dropped by about 2 to 3 per centage in the last 24 hours.
The overall crypto market is down by about a per cent in the last day and is currently valued at about $2.90 trillion.
Bitcoin, after climbing past an all-time high of over $68,000 on Tuesday, has dropped to about $66,500 and appears to be sliding down further.
Ethereum, which also climbed to a record value of over $4,800 twice on Tuesday, is down to about $4,700 and seems to be stabilising around the mark.
Other cryptocurrencies, including solana and polkadot have also dropped in value over the last 24 hours by about 3 to 5 per cent.
Tuesday 9 November 2021 12:20 , Vishwam Sankaran
New York Mayor-elect promotes city-themed cryptocurrency
Following his announcement last week that he would take his first three paychecks in Bitcoin, New York Mayor-elect Eric Adams promoted the launch of the city-themed NYCcoin cryptocurrency scheduled for Wednesday.
Last Thursday, Mr Adams said he wanted to turn New York into the “center of the cryptocurrency industry,” and explore city’s own coin similar to Miami’s, adding that crypto and blockchain should also be taught in schools.
New York City Major-elect Eric Adams' crypto ambitions are already off to the races, with NYCCoin token mining expected to kick off on Wednesday https://t.co/xoT9RYFQFb
— Bloomberg (@business) November 9, 2021
Mr Adams stayed on message on Monday, promoting NYCcoin to be debuted on Wednesday.
Tuesday 9 November 2021 11:53 , Vishwam Sankaran
Bitcoin reaches all-time high
After surging past an all-time high price of over $68,500 on Tuesday, bitcoin has slipped in the last hour and is currently stabilising around the $67,500 mark.
The cryptocurrency has surged by nearly 7 per cent in the last week with some analysts predicting it would grow in value further in the coming weeks.
Bitcoin hits all-time high. Just the beginning. 🚀🌕
— Tyler Winklevoss (@tyler) November 9, 2021
The current surge has beaten the cryptocurrency’s previous high of about $67,700 in October.
Ethereum also surged to a record high of over $4,800 but has since slipped to around $4,750. More on the recent surge here.
Tuesday 9 November 2021 03:06 , Vishwam Sankaran
The prices of several cryptocurrencies including bitcoin, ethereum, and cardano have surged in the last 24 hours with the overall crypto market growing by about 3 per cent in the last day.
Bitcoin has surged by about 4 per cent in the last day, and is priced at about $67,500 while ethereum has risen by about 2 per cent, currently inching closer to the $4,800 mark.
Meme coins dogecoin and shiba inu have also surged in the last 24 hours, rising in value by 4 to 6 per cent.The global crypto market is valued at about $2.92 trillion, and the chart looks green with signs of growth among several cryptocurrencies.
Friday 5 November 2021 07:16 , Vishwam Sankaran
New York Mayor-elect wants to be paid in Bitcoin
In response to tweet by Miami’s Mayor Francis Saurez that he would take his next pay in bitcoin, New York’s Mayor-elect Eric Adams has said he will take his first three paychecks in the cryptocurrency.
Mayor-elect Eric Adams, seeking to turn New York into a crypto-friendly city, will take his first three paychecks in Bitcoin when he takes office in January https://t.co/2RjGcCqoqg
— Bloomberg Crypto (@crypto) November 4, 2021
Mr Adams, a Democrat set to become the city’s second black mayor, said his intention is to make New York the “centre of the cryptocurrency industry and other fast-growing, innovative industries.”
In New York we always go big, so I’m going to take my first THREE paychecks in Bitcoin when I become mayor. NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries! Just wait!
— Eric Adams (@ericadamsfornyc) November 4, 2021
Friday 5 November 2021 03:09 , Vishwam Sankaran
The prices of several cryptocurrencies, including bitcoin, ethereum and cardano have dropped over the last 24 hours as the global crypto market slips by over a per cent in the last day.
Bitcoin and ethereum have dropped in value by over a per cent in the last day.
Polkadot, which has grown by more than 20 per cent over the previous week, has also dropped by about a per cent in the last 24 hours.
Shiba inu has plunged the most, dropping in value by over 20 per cent during this period.
After a surge that helped it overtake cardano on Thursday, the price of solana has stabilised around $240.
The chart looks mostly red with marginal signs of recovery.
Coinbase testing subscription service
Thursday 4 November 2021 18:00 , Anthony Cuthbertson
Coinbase is reportedly working on a new subscription service that would allow customers to avoid paying crypto trading fees in return for a monthly fee.
The largest cryptocurrency exchange in the US will offer the subscription to a small number of users to start, according to a report today in The Block, which will also offer added insurance protection if an account is compromised.
“We’re always looking to learn more about how we can best serve our customers in different ways,” a spokesperson told the publication. “Right now, we are still in early stages, so everything about the future product experience will be shaped by the feedback we receive from our users.”
Crypto price gains in 2021 calculated
Thursday 4 November 2021 11:00 , Anthony Cuthbertson
If you’re wondering how much you could have made if you’d invested in Solana at the beginning of the year, someone has already done the maths for you.
Solana’s 16,000 per cent price gains since the start of 2021 mean that $1,000 invested on 1 January would have turned into $162,000 today. This is more than double what you would have from the same investment in dogecoin, and more than 80-times greater than bitcoin’s returns.
Of the top 10 cryptocurrencies, however, there is one that has performed even better than Solana. A $1,000 investment 10 months ago would have almost turned you into a billionaire by now.
— Watcher.Guru (@WatcherGuru) November 3, 2021
Solana price record follows remarkable year
Thursday 4 November 2021 10:04 , Anthony Cuthbertson
Solana’s latest price surge has seen it reach above $2.40 for the first time in its history. The all-time high for Solana follows an astonishing year for the altcoin, which started the year trading below $2.
Its creators claim its fortunes are directly related to the potential of Solana’s underlying technology, which they say includes “the fastest blockchain in the world”.
“Literally the goal of Solana is to carry transactions as fast as news travels around the world – so speed of light through fibre,” CEO Anatoly Yakovenko said during a developer conference in September. “Who we’re competing with is Nasdaq and the New York Stock Exchange.”
You can read more about Solana and its remarkable rise right here.
Bitcoin price dips slightly as Solana overtakes Cardano
Thursday 4 November 2021 09:49 , Anthony Cuthbertson
Bitcoin has slipped in price slightly on Thursday morning, dropping 2.5 per cent to below $62,000.
The dip has been mirrored by several other leading cryptocurrencies, including Ethereum (ether), Cardano (ada) and dogecoin.
Bucking the trend is Solana, which rose by 2.5 per cent overnight to push its market cap above $70 billion. This means it now ranks above Cardano and the stablecoin Tether on CoinMarketCap’s price index.
Crypto market now worth more than world’s largest banks combined
Wednesday 3 November 2021 18:39 , Anthony Cuthbertson
The latest crypto market rally has pushed the overall value of all cryptocurrencies combined above the top dozen largest banks in the world.
Ethereum (ether) alone is worth more than JPMorgan Chase – the world’s most valuable bank by market cap – after its all-time high today, while bitcoin is worth more than double that.
As cryptocurrencies overtake the giants of traditional finance, some banks are taking steps to let their guard down a bit. Just today, Australia’s Commonwealth Bank announced that it would allow retail customers to buy, sell and store crypto through their mobile banking app.
You can see more charts and read the full story here.
Ethereum and Solana surge, pushing crypto market to all-time high
Wednesday 3 November 2021 09:38 , Anthony Cuthbertson
The cryptocurrency market has hit a new record high this morning.
With a combined market cap above $2.75 trillion, it is now worth more than the top 10 largest banks combined.
Ethereum (ether) and Solana (SOL) hit individual all-time highs, after a price increase of 5 per cent and 12 per cent respectively over the last 24 hours. Bitcoin is still a few thousand dollars away from its personal best but is up more than 2 per cent since this time yesterday.
Here’s the full story:
Wednesday 3 November 2021 02:53 , Vishwam Sankaran
Bitcoin, ethereum and solana surge
Several cryptocurrencies including bitcoin and ethereum have grown over 3 per cent in the last 24 hours, taking the global crypto market to a value of about $2.73 trillion.
Bitcoin has risen in value by about 3.5 per cent in the last 24 hours.
Meanwhile ethereum hit an all time high value of over $4,600, and continues to be priced around the mark.
Solana has grown by over 10 per cent in the last 24 hours and Polkadot has surged by about 4 per cent during this period.
Meme coins dogecoin and shiba inu however have slipped in value in the last day with the latter dropping by over 4 per cent.
The global crypto market has grown in value by about 4 per cent in the last 24 hours.
El Salvador to build 20 schools with bitcoin profits
Tuesday 2 November 2021 17:54 , Anthony Cuthbertson
El Salvador President Nayib Bukele has announced that 40 new schools will be built in the country using the profits from its bitcoin investment.
“God willing, more works will come from the profits of a trust that was created and a Law that was created because we ignored the opposition,” President Bukele said.
The country has also started building the first public veterinary hospital, also funded by crypto profits. El Salvador currently holds more than 1,000 bitcoins - worth more than $60,000,000 at today’s prices.
You can read the full story here.
November historically best month for bitcoin price gains
Tuesday 2 November 2021 14:53 , Anthony Cuthbertson
After a solid October, which saw bitcoin rise in price by 43 per cent, many investors are hoping for an even better November.
Historically, November has been the strongest month for bitcoin, with an average price gain of 53 per cent over the 30 days. If BTC rose by this amount over the next 28 days, it would be north of $90,000 by December.
Ethereum’s record price explained
Tuesday 2 November 2021 14:28 , Anthony Cuthbertson
We’ve heard from some crypto industry figures to hear their thoughts on Ethereum’s latest price record.
The general consensus is that ether’s price rally is being driven by a surge in decentralised app, NFT and gaming token usage, which was boosted by news last week that Facebook – now Meta – is pivoting its focus to the creation and development of a metaverse.
One expert predicts Ethereum could hit $10,000 in 2021 – more than double its current price.
You can read the full story here.
Ethereum price hits new all-time high
Tuesday 2 November 2021 14:27 , Anthony Cuthbertson
Ethereum (ether) has just hit a new all-time high, reaching tantalising close to $4,500.
The latest record was accompanied by another all-time high from Polkadot (DOT), which has shot up nearly 20 per cent over the last 24 hours to break $50 for the first time in its history.
The price surges have pushed the overall crypto market above $2.7 trillion, which is also a record high – making it more valuable than Amazon and Meta (Facebook) combined. Ethereum alone is now worth more than Visa and Mastercard.
Bitcoin price in ‘calm before the bullish storm'
Tuesday 2 November 2021 14:25 , Anthony Cuthbertson
With the price of bitcoin holding steady at around $61,500, one industry figure has described it as “the calm before the bullish storm”.
Dan Held, director of growth marketing at the crypto exchange Kraken, told his Twitter followers: “Strap on your moon boots.”
It follows the same narrative pushed by several leading analysts, who are predicting a record-breaking end to 2021, with November typically being a strong month for bitcoin. If patterns from previous bull runs are followed, the BTC price could go parabolic before the end of the year, however any so-called black swan event could scupper investors’ hopes of fresh all-time highs.