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Bitcoin price – live: Ethereum up $1,000 amid ‘highly positive’ outlook for crypto

·1-min read
The price of bitcoin, Ethereum (ether), litecoin and Ripple (XRP) have all taken a hammering in May 2021 (Getty Images)
The price of bitcoin, Ethereum (ether), litecoin and Ripple (XRP) have all taken a hammering in May 2021 (Getty Images)

Bitcoin fell in price late on Wednesday after Iran announced a temporary ban on bitcoin mining due to the strain it is causing on its electricity grid, however it bounced back on Thursday amid a slew of positive news.

An announcement from PayPal that it would introduce support for crypto transfers to third-party wallets helped bitcoin recover somewhat on Thursday morning, while news from Nigeria, Colorado and the Consensus 2021 conference helped push it back above $40,000.

It is the final day of CoinDesk’s Consensus 2021 conference, which historically has been followed by a general uptick in the cryptocurrency market. NFL star Tom Brady, who recently changed his Twitter profile to include the bitcoin ‘laser eyes’, was announced as a surprise speaker. He is set to appear later today.

Ethereum (ether), Cardano (ada), dogecoin and other major cryptocurrencies are all down over the last 24 hours, though remain remarkably stable when looking at price charts on a week-on-week scale.

We’ll have all the latest live updates right here.