Friday, December 3

Bitcoin

Bitcoin leaps 12% to test recent peaks, ether hits 3-week high
Bitcoin

Bitcoin leaps 12% to test recent peaks, ether hits 3-week high

By Administrator_India Capital Sands Cryptocurrencies popped to the top of recent ranges on Monday as short sellers bailed out in the wake of a strong week and while traders hoped a handful of positive comments from influential investors might signal a turnaround in fragile sentiment. Bitcoin rose as far as 12.5% to hit $39,850, its highest since mid-June during the Asia session, while ether hit a three-week peak of $2,344. On the heels of bitcoin's best week in almost three months, the move put the squeeze on short sellers. Last week, cryptocurrency enthusiast and Tesla boss Elon Musk said the carmarker would likely resume accepting bitcoin once it conducts due diligence on its energy use. It had suspended such payments in May, contributing to a sharp crypto selloff. Twitte...
Bitcoin struggles for footing on worries over China, leverage
Bitcoin

Bitcoin struggles for footing on worries over China, leverage

By Administrator_India Capital Sands Bitcoin and other digital assets languished in Asia on Thursday, recovering marginally from four-month lows but weighed down by concerns over tighter regulation in China and unease over massive leveraged positions in the cryptocurrency world. Bitcoin, the biggest and most popular cryptocurrency, rose slightly to $38,072 after plunging 14% on Wednesday to its lowest since late January. Smaller rival ether fell more than 3% on Thursday to $2,368, extending a 28% tumble on Wednesday. Wednesday's declines in both digital assets were their biggest daily percentage moves in more than a year as investors rushed to exit trades that until recently were heartily outperforming traditional markets such as stocks and bonds. The latest catalyst was ...
Bitcoin scales $51,000 for the first time as crypto fever continues
Bitcoin

Bitcoin scales $51,000 for the first time as crypto fever continues

By Administrator_India Capital Sands Bitcoin’s incredible rally shows little sign of abating yet after the token jumped past $51,000 for the first time. The largest cryptocurrency rose almost 6% Wednesday to about $51,431 after a fivefold surge in the past year, according to a composite of prices compiled by Bloomberg. The Bloomberg Galaxy Crypto Index reached a record. Bitcoin’s rally for some is emblematic of speculative froth in financial markets awash with stimulus. The crypto faithful counter that the digital asset is grabbing more mainstream attention, especially after Tesla Inc.’s recent $1.5 billion purchase. MicroStrategy Inc. said Tuesday it would sell $600 million of convertible bonds and use the proceeds to buy more of the tokens. MicroStrategy’s step is “a warni...
Bitcoin crosses $50,000 for the first time as record rally continues
Bitcoin

Bitcoin crosses $50,000 for the first time as record rally continues

By Administrator_India Capital Sands The seemingly unstoppable rise of Bitcoin continued on Tuesday with the cost of a single unit of the digital currency rising above $50,000 for the first time. The world’s largest cryptocurrency jumped as much as 4.9 per cent to $50,548 and is now up about 70 per cent, so far this year. Bitcoin pared its gain after setting the record high. Ether, a rival crypto, hit a record on Friday and is up about 140 per cent year-to-date. The same Bitcoin just one year ago would have cost you $10,000. The price is up almost 200 per cent in the last three months alone. Bitcoin is rallying as more companies signal the volatile digital currency could eventually gain widespread acceptance as a means of payment. The vast majority of those who have acquired...
Bitcoin

Bitcoin tops $23,000; may climb to about $400,000, says analyst

By Administrator_India Capital Sands Bitcoin breached $23,000 for the first time in history as more Wall Street names crowd into the the world’s largest digital currency up 220 per cent this year. As momentum builds, analysts predict more gains ahead. The digital coin jumped more than 9 per cent on Thursday, touching a high of $23,256.92, according to a composite of prices compiled by Bloomberg. Bitcoin and the wider Bloomberg Galaxy Crypto Index have both more than tripled this year. Cryptocurrency-linked stocks in South Korea, Japan and China climbed. The rally in digital assets is polarizing opinion, given Bitcoin’s history of boom and bust. Proponents argue the cryptocurrency is muscling in on gold as a portfolio diversifier amid dollar weakness and potential inflationary p...