If the mega cryptocurrency has left you nervous, hold your nerves as there is a silver lining in the mayhem the crypto asset class experienced last week
Bitcoin rose after Musk's post to trade at around $38,150 as of 12:27 p.m. London time
We see a possibility of the Indian government considering forming a panel to regulate cryptocurrencies as digital assets than tokens, Gupta said
The world's largest and most popular cryptocurrency last traded down more than 6% at $38,293 after holding the $40,000 level for most of the Asian and London sessions
Bitcoin was little changed on the day at $40,256 on the Bitstamp exchange.
Despite downside risks and this week's volatility -- which saw Bitcoin slide about 31 per cent and jump roughly the same percentage on Wednesday -- crypto bulls are undaunted
Investors with low appetite for volatility must avoid it altogether
There were signs that a top was near, from the Coinbase IPO to Elon Musk on Saturday Night Live. But the cryptocurrency has risen from the dead before
Analysts said the upheaval was far from over.
Bitcoin is now down more than 50 per cent from its record of almost $65,000 set in April
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US stocks are opening broadly lower, extending a weak streak into a third day.
The sharp declines came after China banned financial and payment institutions from providing cryptocurrency services
Bitcoin, the biggest and best-known cryptocurrency, has been under pressure from a series of tweets from Tesla boss Elon Musk. Cryptocurrency price declines last week were sparked by Musk's reversal on Tesla accepting bitcoin as payment. His subsequent tweets caused further confusion over whether the carmaker had shed its holdings of the coin. Every time the charismatic billionaire has made a statement about crypto, he’s sparked off financial turmoil. How and why? The video based on Business Standard's Devangshu Datta article "Why cryptocurrency jumps and falls on Elon Musk's tweets" explains in detail. Watch it now. Story link: https://www.business-standard.com/article/markets/explained-why-cryptocurrency-jumps-and-falls-on-elon-musk-s-tweets-121051801378_1.html
The value of a crypto depends solely on the equation between supply and demand, and demand is driven solely by sentiment
Dogecoin last week jumped about 25% after Musk said he was working with its developers to boost its efficiency.
The drama started on Sunday after Musk sent a tweet that raised questions about whether Tesla might have already sold its stake
Musk said Tesla would not sell its bitcoin, but the cryptocurrency has dropped by almost a quarter since Musk's reversal on Tesla taking it as payment
According to regulatory sources, the brand promotion could mislead retail investors as the legality of cryptocurrency itself is under the scrutiny of the central government
Prices of Shiba Inu have recovered about 25% in the past 24 hours, according to CoinGecko.com.