The most popular cryptocurrency in the world, bitcoin, presented a drop in its price on Monday morning that placed it at $ 30,630.

This marker shows the sensitivity of the market at the moment, which shows a general trend of digital assets to the downside.

Traders had widely predicted a bearish move after bitcoin failed to hold on to higher support levels, with the integrity of the $ 30,000 itself in doubt.

Major exchange Binance was showing considerable demand hovering at $ 27,000 and up, reducing the likelihood of a deeper dive beyond that zone.

K. Tovar

Source: Cointelegraph

La entrada Bitcoin falls below $ 31,000 apareció primero en Bitfinance.

The price of bitcoin, according to the company Stack Funds, would be very close to reaching its lowest value and then returning to a bullish version that could be long-term.

The analyst Lennard Neo, through a report published this week, affirms that despite the constant falls in the price of bitcoin, there should be no reasons to consider that the cryptocurrency is finished.

This report came moments after the asset plunged below $ 30,000 for the first time in six months. However, hours later it recovered above 34,000.

Despite all this panorama, the Stack company maintains that its “macro vision remains the same, in view of the fact that we expect that bitcoin will establish the ground in a further consolidation.”

The analyst, for his part, assures that a very important date for the cryptocurrency would be coming: the expiration of the second-quarter options in the last week of June. With a value of 2.3 billion dollars, this should allow consolidation of the price once processed.

K. Tovar

Source: Cointelegraph

La entrada Bitcoin would be about to bottom out apareció primero en Bitfinance.

This Monday, bitcoin fell again in the market, this time by 10 % of its value, after measures against the mining of digital assets increased in China.

Recently, the Chinese government ordered the closure of some 26 mining centers throughout the country. It should be noted that almost 80 % of the global cryptocurrency trade is powered by mining in that country.

The price of the digital asset plunged to $ 32,309 after hitting a record close to $ 65,000 in April, partly due to repressive measures from Beijing.

The resulting volatility, while puzzling, matches the behavior of previous announcements from China. The country has become a major source of troubles for bitcoin’s bullish momentum in recent weeks as miners face a crackdown and officials reiterate existing restrictions on the cryptocurrency in place since 2017.

K. Tovar

Source: El Nacional

La entrada Bitcoin price continues to fall in the market apareció primero en Bitfinance.

The recent crash of bitcoin, among other things due to comments made by Tesla CEO Elon Musk, has created a total chaos among its enthusiasts.

Musk’s comments caused the cryptocurrency to fall to its lowest levels in the last 20 weeks, reaching it at $ 42,000.

Another reason for this fall is that new traders sold their positions at a loss, while long-term traders held firm, according to on-chain analytics provider Glassnode.

The total number of addresses with a non-zero btc balance has also decreased by 2.8% from its recent all-time high of 38.7 million, as more than a million traders have liquidated their positions.

“A total of 1.1 billion addresses have spent all the coins they had during this correction, again providing evidence that it is currently panicking”, Glassnode said.

K. Tovar

Source: Cointelegraph

La entrada The world of cryptocurrencies is in chaos apareció primero en Bitfinance.

This Friday, bitcoin dawned in red, marking a decline of more than 12 % placing it below $ 50,000.

After having reached $ 64,800 a couple of weeks ago, the cryptocurrency is already 25 % below that value for the hour (approximately $ 47,800).

The rest of the cryptocurrency market follows this downward movement. Ethereum, which just yesterday reached a new historical maximum above 2,640 dollars, in the morning hours of this Friday fell to a minimum of 2,133 dollars, to return to 2,270 dollars which represents a fall of more than 9 % in less than 24 hours.

The correction in the cryptocurrency market comes after the president of the United States, Joe BIden, revealed plans to reform taxes on capital gains, which directly affect swaps with digital assets.

The White House is planning to double this tribute to 39.6 % for those whose earnings exceed one million dollars. This announcement also had an effect on the stock market, with the Dow Jones closing 1 % lower yesterday.

K. Tovar

Source: Investing

La entrada Bitcoin falls below $ 50,000 apareció primero en Bitfinance.

The cryptocurrency bitcoin suffered a significant drop in the market this week, when it went from trading at $ 59,000 to $ 51,000 in less than an hour.

But this was not the only case, since other assets such as dogecoin and ethereum also fell dramatically before recovering a bit again.

This drastic drop could be due to an alleged intervention that the United States Department of the Treasury would apply with respect to money laundering schemes linked directly to cryptocurrencies.

Last week, the excitement for cryptocurrencies seemed to peak when the Coinbase trading platform went public with a valuation of $ 86 billion. After that, a huge 500 % rally followed for dogecoin, an asset that was created as a joke in 2013.

K. Tovar

Source: CNN

La entrada Bitcoin and other critpos suffer sharp decline apareció primero en Bitfinance.