Markets

In yet another comment on the overall cryptocurrency industry, Elon Musk reaffirmed that he supports it over the existing fiat system. Elon Musk, one of the richest men on the planet and the CEO of Tesla and SpaceX, once again caused a Tweetstorm after saying that he supports crypto over fiat. The true battle is between fiat & crypto. On balance, I support the latter. — Elon Musk (@elonmusk) May 22, 2021 Despite his Tweet being short and without any arguments, it...

With bad news attacks coming from all directions over the past week, bitcoin’s price fails to recover any of the recent losses. In the past 24 hours alone, the cryptocurrency fell by almost $10,000 following another set of China FUD. Most altcoins have it even worse, with double-digit price slumps charted from ETH, BNB, ADA, DOGE, XRP, and more. China Causes Another $9K Dip for BTC Bitcoin has seen better days. The massive sell-off during the week caused substantial...

Mike Novogratz – a bitcoin bull, billionaire investor and former hedge fund manager – took some time to discuss the most recent bitcoin drop, saying that it was a “liquidation event.” Novogratz: Bitcoin Will Undergo a Serious Correction The currency – which was trading at $64,000 per unit just a month ago – had fallen into the mid-$40,000 range earlier in the week following news that Elon Musk was ending all bitcoin payments through Tesla and that he was potentially...

This week was particularly turbulent in the cryptocurrency market. Bitcoin’s price crashed to $30K following comments made by Elon Musk, who keeps teasing Dogecoin HODLers. Meanwhile, we also saw old China FUD recycled yet again. Starting off with bitcoin’s price performance, the week was rather unfortunate for bulls. BTC is down about 25% in the past seven days, currently sitting at $37K. It’s worth noting, though, that the cryptocurrency fell even lower, briefly touching...

Cathie Wood of Ark Invest believes bitcoin will reach a price of $500,000. Cathie Wood: Bitcoin Still Has a Solid Future Her words come at a rather “inopportune” time considering the world’s largest and most popular cryptocurrency by market cap has fallen by roughly 33 percent at the time of writing. Once trading for a high of around $64,000, bitcoin has fallen into oblivion and is now trading for close to $30,000 less. However, Wood is confident that the currency will...

The price of bitcoin has taken another nasty dive, and this means the currency is trading in the $30,000 range. It has now fallen close to $30,000 per unit from its April high of nearly $64,000 and exchanges like Coinbase are experiencing huge technical problems as a result. Coinbase Is Having Some Problems The price of bitcoin has been on a downward spiral for the past several weeks, and Coinbase is ultimately at the center of this story. BTC rose to its new all-time...

Catherine Wood, CEO of Ark Management, predicts that “Elon will come back and be part of [the Bitcoin] ecosystem”.Bitcoin (BTC) reached its all-time high in value of $64,804.72 in April 2021. However, few could have foreseen a -17.8% downward spiral in value just over the past week. BTC saw an accumulated loss of over $500 billion in market capitalization, accelerated by the statement coming from Tesla CEO Elon Musk regarding the suspension of BTC as payments for car purchases, owing to...

It appears that Chinese authorities are doubling down on their reiterations of the previous crackdown on cryptocurrencies. The latest stark warning comes from the State Council of China. According to a report issued today, the Financial Stability and Development Committee of the State Council of China held a meeting, pointing out that “the financial system resolutely implemented the decisions and deployments of the Party Central Committee and the State Council, increased...

Microsoft’s deal with Hanshow is its latest attempt to grab a piece of the booming retail industry.MSFT stock has slightly appreciated after Microsoft’s China arm entered into a strategic partnership with Hanshow, a Chinese retail tech company to collaborate on cloud-based software for store operators worldwide. Microsoft Corp‘s (NASDAQ: MSFT) announcement on Thursday saw its stock close at $246.48 at 4:00 EDT after opening at $243.96. At the time of writing in the pre-market, MSFT stock is...

After establishing itself as a futuristic internet infrastructure, Dfinity’s ICP project has attracted a huge global community.After closing yesterday trading at $222.14, representing a change of over 34% during the day, Dfinity’s ICP price was down over 11% at the time of reporting and trading around $170 according to Binance-backed Coinmarketcap.ICP has been dubbed the next big innovation after Bitcoin and Ethereum in the entire blockchain industry. This is ostensible because the project is...