Page 49 - Cryptocurrency

World shares show mixed response; Bitcoin holds steady near $20,000

European benchmarks were higher Monday after most Asian markets retreated, while the price of bitcoin hovered near USD 20,000. US futures advanced and oil prices fell back early Monday. The price of the world's most popular cryptocurrency remained near the psychological benchmark of USD 20,000 after bouncing during the weekend. At one point, bitcoin plunged nearly 10 per cent to under USD 18,600, according to the cryptocurrency news site CoinDesk. As of 0500 ET (0900 GMT) Monday, it was at USD 20,650.56. France's CAC 40 gained 0.2 per cent to 5,893.20. Germany's DAX added 0.2 per cent to 13,150.16. Britain's FTSE 100 rose 0.5 per cent to 7,049.87. US markets are closed Monday for the Juneteenth holiday. The future for the Dow industrials was up 0.4 per cent while that for the S&P 500 gained 0.5 per cent. As expected, China kept its 1-year and 5-year loan prime rates unchanged. Given China's struggle to bring outbreaks under control and its already faltering economy, rate cuts in

I will keep supporting and buying Dogecoin crypto, says Elon Musk

As all the leading cryptocurrencies get hammered, Tesla CEO Elon Musk has said he will keep supporting and buying Dogecoin, a cryptocurrency he has been vouching about for years.

Bitcoin goes past psychological threshold of $20,000 after significant drop

The price of a bitcoin inched above USD 20,000 on Sunday after the broader crypto selloff dragged it below the significant psychological threshold a day earlier

Find the roaches and make a meal: Crypto's new name of the game

It was one of the most dramatic weeks in the short history of the cryptocurrency market

Bitcoin bounces after rout but vibe is still 'strongly negative'

The world's largest cryptocurrency climbed as much as 12% early Sunday, recouping some of its losses from a steep drop Saturday that sent the token to as low as $17,599

Crypto's excruciating week has traders bracing for the next crisis

In between, a nascent technocratic industry with grand ambitions to reinvent the financial system was rocked repeatedly by echoes of past crises in the old system

Dogecoin's investor sues Musk for $258 bn in US for illegal rackeetering

As millions of investors lose their hard-earned money in the global crypto meltdown, an American Dogecoin cryptocurrency investor has sued Elon Musk

Bill Gates blasts cryptocurrencies, NFTs as based on 'greater-fool' theory

Bitcoin plunged more than 15% Monday and another 5.4% Tuesday, part of a broader crypto selloff fueled by higher than forecast US inflation

Bitcoin sinks to fresh 18-month low of $20,079 as crypto meltdown deepens

The value of the global crypto market has tumbled 70% to under $900 billion from a peak of $2.97 trillion in November, CoinMarketCap data shows

'Get-rich-quick' days over for crypto investors post relentless sell-off

Global and domestic prices have been on a downward trail since November last year when Bitcoin prices hit a peak of close to $68,000 in international markets

Top headlines: Govt approves 5G spectrum auction; May trade deficit widens

Business Standard brings you the top headlines on Wednesday

Crypto update: Bitcoin's unrelenting selloff puts prices on verge of $20k

A market that started sliding late last year on expectations of tighter monetary policy is now showing signs of widespread panic

Coinbase lays off 18% of workforce; firm entering recession, says CEO

Leading crypto exchange Coinbase has announced that it is laying off 18 per cent of its workforce, or about 1,100 jobs amid the economic downturn

MicroStrategy can withstand bitcoin volatility: CEO amid margin call fears

MicroStrategy CEO Michael Saylor said the software firm was capable of withstanding volatility in bitcoin prices after the token slumped to levels that triggered fears of possible liquidation

World's richest have lost $1.4 trillion in 2022 after rapid gains

It's a stark contrast to last year, when soaring markets boosted the world's population of high-net-worth individuals by about 8%, including 13 per cent in North America

Crypto exchange Coinbase to cut 1,100 jobs amid turmoil in crypto markets

The layoffs come a day after Bitcoin fell as much as 14% after major US cryptocurrency lending company Celsius Network froze withdrawals and transfers

Millennials hunting for returns drive risk-hungry investing in India

Indian retail investors pouring money into new and lightly controlled assets sets India apart, after the pandemic fueled the rise of retail investors globally

El Salvador's bitcoin holdings value slashed in half by crypto sell-off

The 10 purchases announced by President Nayib Bukele via Twitter have a market value of just over $51 mn, with the biggest single trade - 420 coins at more than $59,000 per coin - down almost 63%

Bitcoin stems heavy losses but pessimism reigns in crypto markets

Bitcoin clawed its way to positive territory after falling as much as 7.3% to $20,816, its lowest since Dec 2020

Cryptoverse: The funds making moolah from the messy markets amid inflation

The crypto market's a hot mess, leaving many investors struggling to turn a buck