Tag Archives: Bitcoin (BTC) Price

After another unsuccessful attempt to decisively overcome the $50,000 price mark, Bitcoin has fallen to $49,000 again. Altcoins, which showed brief signs of recovery yesterday, have dropped again, with Ethereum beneath $1,600 and BNB back to $240.Bitcoin Drops Below $50,000 AgainThe past several days didn’t go well for the bitcoin bulls as the cryptocurrency plummeted by more than $13,000 in about a day or so at the start of the week. They attempted a rapid recovery, which drove the...

The head of the Bank of Korea, Lee Ju-yeol, said that Bitcoin and other major cryptocurrencies lack intrinsic value. However, he believes that all assets will continue to experience significant price fluctuations.Price Surge Because of Pro-BTC Institutional Investors?The chief of the Bank of Korea said cryptocurrencies, including Bitcoin, do not possess inherent value. In a recent news report, Lee Ju-yeol blasted the highly volatile nature of the digital asset industry.“There is no intrinsic...

Bitcoin plunged. It lost somewhere around $13k, or 25% in the past couple of days. It’s not alone. The entire crypto market is bleeding.Data from CoinMarketCap shows that the capitalization lost around $365 billion since Sunday. For reference, last year, on this date, the total market cap of all cryptocurrencies was $283 billion. There’s no sugarcoating it – the crash is substantial, and it might not be over yet.Cryptocurrency Market Cap. Source: CoinMarketCapBut what led to it? Well, there’s...

The heavy correction in Bitcoin’s price continues for a second day with another sharp 17% price plummet only today, and a total of 25% since hitting the current all-time high of $58K just two days ago.The recent drop is largely attributed to the fact that there was a cascade of long liquidations, causing a snowball effect within the market and driving it even lower. As of now, today’s low lies at $44,845, according to Bitstamp.Looking at the bigger picture, Bitcoin has now dropped beneath the...

Bitcoin’s price slumped by more than $13,000 in about a day after its latest all-time high above $58,400. According to on-chain data, exchanges saw the highest one-hour inflow spike in months shortly after the price peak, which could have propelled the steep decline.BTC Price Fall Predicted by Exchanges Inflows?Just yesterday, the situation within the crypto space seemed all cheerful, optimistic, and hopeful, as BTC had just broken another record and had $60,000 in its sight. Not a lot could...

Bitcoin saw some serious whipsaw-like action today, with the market witnessing its most serious correction in February. At the height of the crash, Bitcoin price plunged by 18%, to as low as $47,400 (Bitstamp) before sharply recovering.The cryptocurrency had spiked lower in a wild hourly candle, pushing the market briefly beneath the ascending price channel that it has been trading within throughout February.This comes just a day after it had reached the upper boundary of this price channel...

Janet Yellen, the recently-appointed Secretary of the US Treasury, doubled-down on her belief that BTC is frequently used in illicit transactions, while it fails as an efficient form of payment.Interestingly, her comments came as the price of the asset slumped by more than $11,000 in a day to below $48,000.Yellen On Crypto And BTC’s InefficiencyWhile speaking at the DealBook DC Policy Project, an event moderated by the New York Times, Yellen commented on the steep road the US has to face in...

JPMorgan strategists have supported the narrative that Bitcoin is in a liquidity crisis. However, instead of highlighting it as a potential catalyst for further price increases, they warned that the asset could experience a sharp price drop just as quickly. The primary cryptocurrency reached yet another record during the weekend with a new all-time high of $58,400 (on Bitstamp). However, the price corrected somewhat sharply, and BTC lost over $4,000 of value in a matter of hours and dipped to...

Bitcoin surged by a solid $2,500 so far today, gaining almost 5% in value. This allowed the cryptocurrency to break resistance at $56K, surpassing $58K to set a new all-time high.The primary cryptocurrency had been trading within an ascending price channel for the entire month of February. On Friday, Bitcoin had surged by 8.5% as it broke past the previous resistance at $52,365 to smash the upper boundary of the marked price channel, reaching the resistance level at $56,112 (1.414 Fib...

The cryptocurrency market is well-known for its intense price fluctuations, and the past 24 hours provided more proof. With BTC and most altcoins charting double-digit moves in both directions, this resulted in $1.74 billion liquidated on exchanges.The primary cryptocurrency had just painted a new all-time high (at the time) of about $57,600 before a vigorous correction drove the asset down to a low of $54,000 in a matter of minutes yesterday. BTCUSD. Source: TradingViewAs it typically...