The price of Bitcoin continues to fall, adding further losses to the market after a mini flash crash last week.
The same has happened in the crypto market, with many more including Ethereum (Ether), Cardano (ada), and Dogecoin shrinking further.
Bitcoin has fallen 3.6% in the past 24 hours and has now fallen more than 8% last week.
The market as a whole fell nearly 5% during the day, according to tracking site CoinMarketCap.
This was despite a host of rumors that seemed to raise the price of cryptocurrencies. One of them claimed that Apple is about to announce a major investment in bitcoin, although there is currently nothing to back it up.
The latest moves have failed to lift bitcoin out of its recent stasis, with the world’s leading cryptocurrency moving less than 1% week-on-week. It hasn’t gone over $ 36,000 or $ 32,000 since the end of June, although some analysts are hopeful that a big step is on the way.
Bitcoin is about to emit a major buy signal, similar to that seen in October 2020, according to one indicator.
You can follow all the latest news and analysis here.
Spike Lee Directs Cryptocurrency Film, Says “Digital Rebellion Is Here”
Big news from the cultural world, as Spike Lee announces his new project: a film called ‘The Currency of Currency’, which seeks to promote digital coins. It was paid for by Coin Cloud, which makes ATMs – but for cryptocurrencies.
The film also features Mj Rodriguez de Pose, competitor to RuPaul’s Drag Race Shangela and others, all of whom seek to promote cryptocurrency on the basis of its more inclusive nature.
Andrew GriffinJuly 15, 2021 8:36 AM
Very red market
It’s another negative day in the crypto markets. All the big coins, except the stable coins, are down – and a lot considerably.
Here’s the latest, from CoinMarketCap:
Andrew GriffinJuly 14, 2021 11:38
Satoshi-era dormant bitcoin wallet suddenly activates after nearly a decade
A dormant bitcoin address containing over $ 26 million worth of cryptocurrency has come to life after nearly a decade of inactivity.
The wallet was created shortly after the disappearance of pseudonymous Bitcoin creator Satoshi Nakamoto in 2012.
The movement of funds from the bitcoin address was detected by the Twitter bot Whale Alert. 640 of the wallet’s 791 bitcoins have been moved to an unknown address, according to blockchain records.
Anthony CuthbertsonJuly 13, 2021 7:10 PM
The United States posts the biggest rise in inflation since 2008
The U.S. Department of Labor reported the largest 12-month inflation increase since 2008 in its June 2021 Consumer Price Index, released today.
Consumer prices have risen 5.4% in the past year as the economy struggles to recover from the pandemic.
This means that the dollar’s purchasing power is much lower than that of the same time last year, pushing up the prices of everyday goods and services like cars, furniture and restaurants. Despite the recent fall in prices, the value of bitcoin against the dollar has actually tripled over the same period.
Bitcoin advocates took the opportunity to also point out the non-inflationary nature of bitcoin, which has a built-in supply of 21 million coins that makes it immune to economic measures such as quantitative easing. Among the most prominent voicing their support for cryptocurrency were the Winklevoss twins, who described bitcoin as “the world’s best hedge against inflation.”
Anthony CuthbertsonJuly 13, 2021 6:06 PM
Ethereum price drops below $ 2,000
The price of Ethereum has fallen below $ 2,000 for the first time since late June.
The world’s second most valuable cryptocurrency has fallen more than 6% in the past 24 hours and more than 15% on a week-to-week basis, according to CoinMarketCap.
Among the top 10 cryptocurrencies, only Uniswap saw a larger price drop during the same time period. Not a single one has seen any gains.
You can read the full story of The independentAndrew Griffin’s technical writer here.
Anthony CuthbertsonJuly 13, 2021 2:10 PM
Bank of England reports ‘growing interest’ in crypto from institutional investors
The Bank of England has highlighted the growing trend of increasing institutional investment in bitcoin and other cryptocurrencies, suggesting that there could be other significant moves in the space in 2021.
The Financial Stability Report, released today, noted how the price of bitcoin increased six-fold in the 12 months leading up to April 2021, prompting institutional investors to take note.
“Market information suggests that crypto-assets are largely held by retail investors, with institutional investors currently having limited exposure,” he added. report States.
“However, there are signs of growing interest in crypto-assets and related services from institutional investors, banks and major payment system operators. These developments could increase the interconnections between crypto-assets and other systemic financial markets and institutions. ”
Anthony CuthbertsonJuly 13, 2021 1:17 PM
Bitcoin price analyst predicts bullish breakout
A new research note from an analyst who predicted that the recent bitcoin price crash offered an optimistic view of the current direction of the market.
Katie Stockton, founder of independent research provider Fairlead Strategies, wrote that bitcoin appears more likely to surpass than fall below the narrow band of $ 32,000 to $ 36,000 in which it has traded in recent weeks.
“The consolidation phase itself is neutral, but we believe a breakout is more likely than a breakdown,” she wrote. “Medium-term dynamics have improved based on the Moving Average Convergence Divergence (MACD) histogram.”
Anthony CuthbertsonJuly 13, 2021 11:29 AM
Elon Musk says his baby is a ‘toddler hoddler’ dogecoin
Elon Musk tweeted about dogecoin again.
Tesla CEO joked that electric cars could mine for dogecoins every time they spot a Shiba Inu dog with its built-in cameras.
“Maybe so [Tesla Vision] sees a Shiba Inu, the car returns a dogecoin ”, he said wrote.
Anthony CuthbertsonJuly 13, 2021 10:17 AM
BREAKING: Crypto record for British police
British police seized £ 294million ($ 408million) of cryptocurrency as part of a money laundering investigation.
The transport, which the Met Police said is breaking a record size, was an unspecified crypto. Details of how he was seized have not yet been released.
Metropolitan Police Assistant Deputy Commissioner Graham McNulty said: “While cash remains king in the criminal world, as digital platforms develop we are seeing more and more organized criminals using the cryptocurrency to launder their dirty money. “
We will have more of this story as it develops.
Anthony CuthbertsonJuly 13, 2021 09:54
Rumors that Apple bought bitcoin
Rumors are currently spreading online that Apple has invested heavily in bitcoin.
Forums and social media are teeming with claims that the tech giant will announce a $ 2 billion cryptocurrency purchase today, although at this point these are just rumors.
It would make sense for Apple to put its vast cash reserves in bitcoin, the same way Tesla did, but it would still be a risky decision. With nearly $ 200 billion in cash at the last quarterly report, $ 2 billion is believed to be just 1% of the iPhone maker’s holdings. If this is true, you would imagine that the price of bitcoin would receive a similar increase as Elon Musk announced about Tesla’s crypto investment.
We’ve reached out to Apple for comment.
Anthony CuthbertsonJuly 13, 2021 8:54 AM