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The price of bitcoin has tumbled over 25% in the last seven days, hitting a low of $42,025 over the weekend, as investors took profits en masse. Bitcoin, as well as peers such as Ethereum which have also slumped by similar amounts in the last week, has sold off after a staggering run year-to-date which…
Bitcoin prices slumped over the weekend, falling to a low of $50,000 on Sunday before rebounding, as a flash crash impacted leading cryptoassets. Bitcoin, Ethereum and XRP, as well as most other major altcoins, were all hit by a sudden flash crash early Sunday morning, sending prices down sharply. Power outages in China, which consequently…
Since falling alongside the stock market early last week, Bitcoin has bounced beyond $50K, bringing most of the crypto market back into the green. The comeback was accompanied by a string of bullish headlines. Goldman Sachs has restarted its crypto trading desk and is considering launching a Bitcoin ETF, Charles Schwab is said to be…
David Derhy, analyst, eToro: Ethereum prices rebound with proposals set to change gas fees Ethereum prices rocketed back above $1,700 over the weekend, hitting a multi-week high after a major upgrade to the network was announced. The Ethereum Improvement Proposal 1559 will be implemented as part of the planned London hard fork coming this July…
Bitcoin appeared to hitch a ride on Elon Musk’s rocket on Friday. The cryptoasset soared by 20% to hit $38K as the world’s richest man added #bitcoin to his Twitter Bio, and a record number of options contracts expired. However, despite the spike, soon enough the world’s largest crypto was drifting back to earth. This…
It was an eventful week for investors of all kinds. Momentum was injected into markets by Joe Biden’s apparent election win and the news of the Pfizer and BioNTech vaccine trial showing a 90% efficacy. The S&P, Dow Jones and the FTSE 100 all rallied significantly on the news before the upward trend leveled off.…
Global markets hit new heights last week, reflecting the dawn of Biden’s administration as the 46th US president was inaugurated on Wednesday. The S&P 500 was the leading beneficiary, whilst the FTSE 100 also climbed on the ‘Biden bounce’. Conversely, bitcoin struggled and spent much of the week on a slow but steady decline, but…
As the cryptocurrency market recovers from a steep pullback, Ethereum is rising out of a sea of red to hit all-time highs. The second-largest crypto has risen 11% on the week to hit $1,480, as Bitcoin has moved in the opposite direction. This follows suggestions from incoming treasury secretary Janet Yellen that lawmakers “curtail” cryptocurrency…
In traditional markets, the S&P 500 remained steady throughout the week, finishing on 3,722. In Europe, the STOXX 600 rose marginally, finishing the week on 395. And here in the UK, it was a different story, with ongoing Brexit negotiations and the uncertainty surrounding No Deal sending jitters through the FTSE All Share; it finished…
Meanwhile, the altcoin rankings have been rearranged. As Ethereum has rocketed past $1K, Litecoin has flippened XRP to become the fourth biggest crypto by market cap. This follows yet more downside for XRP, which has dropped 4% this week as platforms including eToro’s US operation have delisted the coin in light of the SEC’s lawsuit.…