Bitcoin (BTC) has dropped slightly in value, its price changing from about $48,000 on Friday to below $47,000 on Monday.
Other cryptocurrencies, including Ethereum (ETH), Solana (SOL) and Cardano (ada) have also dropped in value slightly during the period with the overall crypto market down by about 0.5 per cent in the last 24 hours.
Solana, Cardano and Polkadot are down by about 2 to 3 per cent in the last day.
Meanwhile dogecoin and its spinoff shiba inu have dropped in value by about 1 to 3 per cent after last week’s gains following Tesla’s announcement that it would begin accepting payments in the meme coin.
Analysts remain divided over whether the market will see a resurgence before the end of the year, with the most bullish continuing to predict a record-breaking end to 2021.
You can find all the latest news, analysis and expert price predictions right here.
The Independent to host free crypto event
Tesla to accept dogecoin payments
03:06 , Vishwam Sankaran
Bitcoin, Ethereum, and other crypto prices drop slightly
The prices of bitcoin, ethereum, and other top cryptocurrencies including cardano and solana have dropped slightly in the last 24 hours.
BTC is currently valued close to $47,000, compared to its Friday price close to about $48,000. The leading cryptocurrency has dropped in value by about 4 per cent in the last week and by nearly a per cent in the last day.
Ethereum and solana have dropped in value by about a per cent, while cardano and polkadot are down by 3 to 4 per cent in the last 24 hours.
The overall crypto market is down by about 0.5 per cent in the last 24 hours and is currently valued at $2.20 trillion.
Friday 17 December 2021 02:57 , Vishwam Sankaran
Bitcoin, Ethereum, and other crypto prices drop
After surging above $49,000 on Thursday, the price of bitcoin has dropped below the $48,000 mark, plunging by over 2.5 per cent in the last 24 hours.
Ethereum’s price has also dropped by over 1 per cent in the last 24 hours and the cryptocurrency is down by about 5 per cent compared to its value a week earlier.
Other top cryptocurrencies including cardano, polkadot as well as memecoins dogecoin and its spinoff shiba inu have also plunged by about 4 per cent in the last 24 hours.
The global crypto market is down by over 2 per cent in the last day and is currently valued at $2.21 trillion.
The chart looks red with no signs of recovery yet.
Crypto experts predict which altcoins to look out for in 2022
Thursday 16 December 2021 18:24 , Anthony Cuthbertson
Last night, The Independent held a virtual event centred around cryptocurrency. Among the topics were forecasts for next year, including which altcoins could see massive growth, and where the price of bitcoin and other leading cryptocurrencies could be heading.
The distinguished panel included experts in everything from trading and investing, to fintech laws and regulations:
- Will Harborne, CEO of the decentralised cryptocurrency exchange DeversiFi
- Dr Iwa Salami, associate professor at the University of East London
- Fred Schebesta, founder of financial comparison platform Finder.
The hour-long session is available to watch for free online, right here.
Bitcoin sentiment moves away from ‘extreme fear'
Thursday 16 December 2021 14:58 , Anthony Cuthbertson
A popular metric for measuring crypto market sentiment has retreated away from the “extreme fear” territory it was trending within earlier this week.
The recent market downturn saw a significant dip into the rare zone for the Bitcoin Fear and Greed Index, which analyses a variety of factors to estimate the general outlook and feelings of investors and traders.
“Extreme fear can be a sign that investors are too worried. That could be a buying opportunity,” the Index’s creators explain. “When Investors are getting too greedy, that means the market is due for a correction.”
Bitcoin Fear and Greed Index is 29 - Fear
Current price: $49,017 pic.twitter.com/5c0IfvZXFB
— Bitcoin Fear and Greed Index (@BitcoinFear) December 16, 2021
Crypto boss says ‘dollar is going to zero’ against bitcoin
Thursday 16 December 2021 11:36 , Anthony Cuthbertson
The CEO of a leading cryptocurrency exchange has offered his thoughts on the inflation levels currently occurring the US, saying that the US dollar is “going to zero” against bitcoin.
Kraken boss Jesse Powell told Bloomberg that
bitcoin’s anti-inflationary nature means he is bullish about its price against traditional fiat currency in the long term.
He said there was “no end in sight” to the “out of control” inflation levels, with statistics from the month of November showing a 6.8 per cent CPI increase year-on-year. This is the highest it’s been in nearly four decades.
Thursday 16 December 2021 03:07 , Vishwam Sankaran
Bitcoin and ethereum prices surge
The price of bitcoin has surged above $49,000 after it went below the $47,000 mark on Tuesday.
The world’s leading cryptocurrency has grown by over 2 per cent in the last 24 hours but is still down by about a per cent compared to its value a week earlier.
Ethereum has also surged by over 5 per cent in the last 24 hours and is currently valued at about $4,000.
Solana has grown by more than 10 per cent in the last day but is still down by about 7 per cent compared to its price a week earlier.
Meme coins dogecoin and shiba inu are also showing signs of recovery after their prices fell earlier this week.
The overall crypto market has grown by about 4 per cent in the last 24 hours and is valued at $2.26 trillion.
‘World’s first bitcoin mortgage'
Wednesday 15 December 2021 15:05 , Anthony Cuthbertson
More positive news in the crypto space today, this time from credit and savings platform Ledn, whose newest product is a bitcoin-backed mortgage.
After raising $70 million in Series B funding, Ledn will soon allow clients to buy property and use an equal amount of bitcoin and property collateral as part of the mortgage loan.
The cryptocurrency lending platform said the “world’s first bitcoin mortgage” allows customers to “access liquidity without needing to sell your assets”, adding, “you no longer need to decide between holding your bitcoin or owning real estate.”
German savings banks could offer crypto to millions
Wednesday 15 December 2021 12:30 , Anthony Cuthbertson
A consortium of German savings banks are planning to offer access to bitcoin (BTC), Ethereum (ETH) and other leading cryptocurrencies to up to 50 million customers, according to local reports.
The pilot programme involves launching an in-house crypto wallet and exchange in 2022, the German Savings Banks Association (Sparkasse) told local business magazine Capital.
“More and more consumers are interested in crypto-assets,” a spokesperson confirmed to CoinTelegraph. “One in ten customers of the German Savings Banks states he/she owns or has owned crypto-assets. Considering their expectations, the Savings Banks Finance Group has to look into crypto-assets, too.”
Bitcoin price glitch sees crypto hit $870B on CoinMarketCap
Wednesday 15 December 2021 10:35 , Anthony Cuthbertson
The price of bitcoin spiked to $872 billion on CoinMarketCap after a mysterious glitch.
The fanciful price rise of 1,874,722,432 per cent was actually bettered by Ethereum (ETH), which hit a new all-time high above $81 billion after a 2,169,744,354 per cent surge in value took its fictional market cap above bitcoin’s.
The bizarre price gains were not reflected across crypto exchanges, meaning no one was actually able to cash out at such extreme levels.
CoinMarketCap apologised for the irregularities on Twitter, stating: “We will be rebooting our servers as a final step in accordance with our internal remediation plan.”
Wednesday 15 December 2021 03:12 , Vishwam Sankaran
Bitcoin, ethereum, and other cryptocurrencies surge
The prices of bitcoin, ethereum and other cryptocurrencies including dogecoin have surged in the last 24 hours with the overall crypto market growing by over 2 per cent in the last day.
After slipping below the $47,000 mark on Tuesday, bitcoin has surged closer to the $48,000 mark, surging by over 2 per cent in the last 24 hours.
Ethereum has grown by about a per cent in the last day and is priced at about $3,820.
Solana and Cardano have also grown in value by 2 to 4 per cent over the last 24 hours.
Meanwhile, meme coin dogecoin has skyrocketed in value by over 14 per cent after Tesla chief Elon Musk says the company would start accepting the crytpocurrency as a mode of payment for some products.
The global crypto market is showing signs of recovery and is currently valued at $2.18 trillion.
Is bitcoin in a bear market?
Tuesday 14 December 2021 12:57 , Anthony Cuthbertson
The latest price dip has led crypto analysts and commentators to question whether bitcoin has entered a bear market after months of bullish gains.
Cryptocurrency investor and popular Twitter commentator Lark Davis has shared a thread explaining why he doesn’t believe bitcoin is looking bearish.
Davis points to various data points and on-chain analysis to back up this opinion, including market sentiment, ramped up support lines and decreasing exchange balances.
“Fear is high, prices are down, BUT fundamentals are strong, on chain data looks good, and technicals are holding up,” he writes.
On chain data also remains bullish.
IE BTC exchange balances which keep dropping as the dip continues to be bought. pic.twitter.com/nC5Evjuy0A
— Lark Davis (@TheCryptoLark) December 14, 2021
BREAKING: Tesla to accept dogecoin payments - Elon Musk
Tuesday 14 December 2021 11:04 , Anthony Cuthbertson
Tesla will soon start accepting payments in dogecoin, Elon Musk has revealed, though only for merchandise and not for cars.
Tesla will make some merch buyable with Doge & see how it goes
— Elon Musk (@elonmusk) December 14, 2021
The price of dogecoin is up more than 14 per cent since the Tesla boss made the announcement via Twitter.
There is still no word on whether the electric car maker will once again begin accepting payments in bitcoin, having introduced and then withdrawn the feature earlier this year.
You can read the developing story here:
Deciphering Cryptocurrency: The Independent to host free crypto event
Tuesday 14 December 2021 10:51 , Anthony Cuthbertson
If you’re keen to learn more about bitcoin and the rest of the crypto space, we’re hosting a free online event tomorrow evening.
Joining me (Anthony Cuthbertson) will be crypto expert and Finder.com co-founder Fred Schebesta, as well as Dr Iwa Salami from the University of East London, who is an associate professor in financial law and programme leader in FinTech regulation. There may also be another special guest announced sooner to the time.
We’ll be discussing all that’s happened in 2021, as well as what to expect in 2022. You can ask questions to any of the panel ahead of time, or during the event itself.
It’s taking place at 6.30pm GMT on Wednesday and is completely free to attend. You can register here:
Crypto market re-enters ‘extreme fear’ territory
Tuesday 14 December 2021 10:36 , Anthony Cuthbertson
Bitcoin and the broader crypto market has once again entered a period of “extreme fear”, according to one sentiment-tracking index.
The Bitcoin Fear & Greed Index, which analyses emotions and sentiments from social media, exchanges and other of sources, fell back below 25 (out of 100) overnight.
Just last month, when bitcoin and other leading cryptocurrencies were hitting new all-time highs, the index was in the ‘greed’ territory, with a score of 74. For some cryptocurrency analysts, being in the ‘fear’ zone is seen as a key buy signal.
“Extreme fear, buy. Extreme greed, sell,” one investor recently noted on Twitter. “Rinse and repeat.”
Tuesday 14 December 2021 03:06 , Vishwam Sankaran
Bitcoin slides by 4 per cent
After inching close to the $50,000 mark on Monday, Bitcoin has slipped down to a value of $47,000, down by about 4 per cent in the last 24 hours.
Other leading cryptocurrencies including ethereum, solana, and cardano are also down by over 5 per cent in the last day.
The overall crypto market is down by about 5 per cent in the last 24 hours, and is currently valued at about $2.14 trillion.
Meme coins dogecoin and its spinoff shiba inu are also down by 4 to 6 per cent in the last 24 hours.
The chart looks all red with no signs of recovery yet.
NFT accidentally sold for 1/100th of its market price
Monday 13 December 2021 17:38 , Anthony Cuthbertson
One of the Bored Ape Yacht Club NFTs was accidentally put on the market for one-hundredth of its market price, and swiftly snapped up by a canny buyer.
The seller of Bored Ape number 3,547 put the in-demand NFT on OpenSea for 0.75 ETH ($3,000) instead of 75 ETH ($300,000), blaming a “fat fingered” typing error.
It was purchased before the seller had a chance to click ‘cancel’, most likely by a bot programmed to snap up low-priced Bored Ape NFTs. It was soon back up on the OpenSea marketplace, where it is currently listed for 60 ETH.
Elon Musk discusses crypto with Time
Monday 13 December 2021 16:47 , Anthony Cuthbertson
Elon Musk, who was today named as Time’s Person of the Year 2021, has once again been chatting about cryptocurrency.
The world’s richest person laid out his credentials for understanding how money works by reminding the interviewer that he played a fundamental role in the creation of PayPal. He then spoke about the role bitcoin can play as a store of value (which he already does both personally and with SpaceX and Tesla cash reserves), while also warning of its potential limitations.
“Even though it was created as a silly joke, dogecoin is actually better suited for transactions,” he said. “It is slightly inflationary... but that’s actually good as it encourages people to spend rather than to horde it as a store of value.”
Elon Musk talks seriously about #Dogecoin in a TIME magazine person of the year interview.
I think it’s safe to say the cofounder of PayPal might know a little something about money, so y’know, it may be interesting to take a listen.pic.twitter.com/QCK2xL7502
— Shibetoshi Nakamoto (@BillyM2k) December 13, 2021
Bitcoin analyst says ‘no signs of a further sell-off cascade’
Monday 13 December 2021 16:14 , Anthony Cuthbertson
Here’s some quick takes on the latest price dip:
“Bitcoin still holding the weekly pennant backtest,” says popular crypto commentator TechDev.
— TechDev (@TechDev_52) December 13, 2021
On-chain analyst Willy Woo, who counts nearly 1 million followers on Twitter, says: “No signs of a further sell-off cascade... Longs have already been flushed.”
Buying the dip visualised (spot volumes seen on-chain). It has been happening, it's moderate, but most importantly, as yet there's no signs of a further sell-off cascade. Also worth keeping in mind longs have already been flushed. pic.twitter.com/j5cjUOIGmA
— Willy Woo (@woonomic) December 13, 2021
Bitcoin, Ethereum and other leading cryptos slip
Monday 13 December 2021 15:41 , Anthony Cuthbertson
The market has taken a slight tumble over the last hour, wiping nearly $100 billion from the overall cryptocurrency market cap.
The price slide has seen bitcoin (BTC) fall below $47,000, while Ethereum (ETH) also slid below the $4,000 mark it had managed to hold so well in recent days.
The reason for the downturn is not immediately clear, but further downward momentum could risk bitcoin falling below its 200-day moving average - a key point of resistance for the cryptocurrency. We’ll have some expert analysis on the dip shortly.
Twitter hack sees India PM declares bitcoin ‘legal tender’
Monday 13 December 2021 12:47 , Anthony Cuthbertson
Narendra Modi declared bitcoin “legal tender” on Twitter over the weekend, in what was quickly revealed to be a hack on the Indian Prime Minister’s account.
Prime Minister Modi has more than 70 million followers on the platform – more than any other world leader – and it remains unclear how his personal profile was compromised.
The tweet was removed before it could have any major impact on the crypto market, with any such news likely to be monumental for the price of the cryptocurrency. When El Salvador announced that bitcoin would be legal tender earlier this year, it prompted a market-wide rally that led to new all-time highs.
You can read the full story here:
Monday 13 December 2021 02:58 , Vishwam Sankaran
Bitcoin slips by about 3 per cent in last 8 hours
After climbing above the $50,000 mark on Sunday, Bitcoin has dropped to about $49,000 within the span of a few hours.
The cryptocurrency has dropped in value by about a per cent compared to its price a day earlier.
Ethereum has also slipped by about a per cent in the last day while its down by over 4 per cent compared to its value a week earlier.
Polkadot has grown by about 5 per cent in the last 24 hours while cardano is down by over 5 per cent during this period.
The overall crypto market has dropped in value by over a per cent in the last 24 hours and is currently valued at about $2.24 trillion.
Friday 10 December 2021 02:55 , Vishwam Sankaran
Crypto market down by over 3 per cent in last 24 hours
The prices of several cryptocurrencies, including bitcoin, ethereum, and solana have slipped by 3 to 5 per cent over the last 24 hours with the overall crypto market dropping in value by over 3 per cent during the period.
Bitcoin has slipped by nearly 3 per cent in the last day and by over 13 per cent in the last week with no signs of recovery yet.
Ethereum, solana, and cardano have dropped in value by nearly 5 per cent in the last 24 hours.
Meme coins dogecoin and shiba inu have slipped by over 3 per cent in the last day, and by over 15 per cent in the last 7 days.
The global crypto market is still down with no signs of recovery yet and is currently valued at about $2.29 trillion.
Bitcoin price bullish for 2022?
Thursday 9 December 2021 17:47 , Anthony Cuthbertson
With the price of bitcoin still lingering below the $50,000, investors are looking for reasons to be positive about the coming months.
Popular crypto commentator Lark Davis has laid out seven reasons to be bullish about bitcoin in the year ahead, writing on Twitter that major industry news like a spot ETF, combined with lengthening cycles, will see bitcoin’s price continue to rise into 2022.
“Make hay while the sun shines, and enjoy many more months of good market conditions,” Davis writes. “Don’t forget to take some profits along the way.”
You can find the full thread here:
7 Big money starting to figure out that this is the best tech investment class of this decade. Plus with inflation running rampany crypto is a no brainer. Yet, most are still on zero, but it won't stay that way! We already are seeing many multi hundred million dollar fund raises.
— Lark Davis (@TheCryptoLark) December 9, 2021
Decentralised crypto exchange enables bitcoin trading
Thursday 9 December 2021 15:19 , Anthony Cuthbertson
A decentralised exchange run on the DeFi protocol Sienna Network has enabled trading with bitcoin and monero, in a move that has been endorsed by ‘Bitcoin Jesus’ Roger Ver.
Users of SiennaSwap DEX will be able to trade BTC and XMR with the Sienna token. In the two months since it launched SiennaSwap has generated over $254 million in trade volumes, attracting users through its privacy-focussed mandate.
“Maintaining privacy while enabling DeFi for monero and bitcoin is crucial and Sienna Network seems to be doing exactly that,” Ver told CoinTelegraph.
Microstrategy buys even more bitcoin
Thursday 9 December 2021 13:19 , Andrew Griffin
Microstrategy, the software firm probably better known as a huge holder of bitcoins, is now holding even more of them. Chief executive Michael Saylor says it has bought 1,434 bitcoins for about $82.4 million in cash at an average price of $57,477 each.
That means it now has about 122,478 bitcoins, which it has spent $3.66 billion on. They were bought for an average of about $29,861 each, almost exactly half of what today’s cost.
‘Crypto’ mentioned 6.6m times on Reddit in 2021
Thursday 9 December 2021 12:19 , Anthony Cuthbertson
Reddit’s annual review has revealed that cryptocurrency was the most popular theme on the platform over the last year.
The term ‘crypto’ received more than 6.6 million mentions between January and November, while there are now more than 500 communities on Reddit dedicated to cryptocurrency.
The sub-Reddit r/dogecoin was the most popular of all of them, which has fostered the meme coin’s community since its early days.
You can read the full story here:
Crypto CEOs testify at congressional hearing
Thursday 9 December 2021 10:12 , Anthony Cuthbertson
The CEOs of several leading cryptocurrency firms appeared before the US House Financial Services Committee on Wednesday to answer questions about digital currencies and stablecoins.
Among them were Circle CEO Jeremy Allaire, Bitfury CEO Brian Brooks and Coinbase CEO Alesia Haas, who sat through the nearly five hour hearing held by nearly 40 lawmakers.
The market appears unmoved by the event, despite some attempts from the politicians to frame crypto in a negative light. Perhaps because those critical appeared to have little understanding of what they’re talking about.
Here’s what Congressman Brad Sherman had to say:.
tell me you don't understand crypto without telling me you don’t understand cryptopic.twitter.com/boToAl3qjd
— LilMoonLambo (@LilMoonLambo) December 8, 2021
Thursday 9 December 2021 02:49 , Vishwam Sankaran
Bitcoin remains stable around $50,000 mark
The price of bitcoin has slipped by about 1 per cent in the last 24 hours and has remained stable around the $50,000 mark.
Meanwhile, ethereum has grown by about 2 per cent and is currently valued at $4,400.
Other top cryptocurrencies including cardano and solana have not changed in value compared to their prices 24 hours earlier.
The overall crypto market has not changed in value in the last day and is currently priced at about $2.37 trillion.
Visa crypto advisory service pushes bitcoin ‘into mainstream'
Wednesday 8 December 2021 19:50 , Anthony Cuthbertson
Today’s announcement from Visa that it will roll out a crypto advisory service for banks and retailers will help push bitcoin and other cryptocurrencies into the mainstream, according to cryptocurrency expert Kaj Burchardi, managing director at BCG Platinion.
By educating financial institutions, the world’s largest payment processor will see demand for such services sky rocket.
“Cryptocurrencies are becoming more mainstream, and now a much greater consideration for both retailers and traditional financial services business,” Burchardi told us. “Today’s Visa advisory announcement is evidence of this [and] paired with the news that it will allow cryptocurrency to complete transactions across its payment network can provide traditional financial institutions with an opportunity to bridge the gap between fintech and their traditional counterparts.”
Bitcoin hashrate hits all-time high
Wednesday 8 December 2021 17:57 , Anthony Cuthbertson
Bitcoin’s mining hashrate has bounced back to all-time highs, just six months after operations were banned in China.
Mining in China accounted for roughly 75 per cent of all production capacity earlier this year, but the nationwide crackdown on cryptocurrencies forced miners to flee to other countries. The shift has been positive both for bitcoin’s underlying network, which is now no longer so concentrated and dependent on a single market, and also the environment, as China’s mining operations were mostly powered by coal-powered energy sources.
The recovery in hashrate in such a short space of time is also remarkable, and coincides with generally positive market momentum.
World’s third largest bitcoin holder buys the dip
Wednesday 8 December 2021 13:58 , Anthony Cuthbertson
A bitcoin whale that has been accumulating vast amounts of cryptocurrency since 2019 has just bought another $150 million worth of BTC.
The unknown investor is the world’s third largest bitcoin holder, with the latest purchase taking their total holdings close to $6 billion. It bucks the trend of other large holders, who have been skimming profits from their investments following the all-time high seen in November.
The ‘buy the dip’ mentality is evidence that this bull market may not yet be over, according to one analyst we spoke to.
You can read the full story here:
Bitcoin price holds above $50k
Wednesday 8 December 2021 09:53 , Anthony Cuthbertson
Bitcoin is managing to keep its head above the $50,000 mark on Wednesday morning, but only just.
A 2 per cent dip in price has seen it fall to within a few hundred dollars of the $50k mark, while Ethereum (ETH), Binance Coin (BNB), and Ripple (XRP) saw similar drops in value.
None of the leading cryptocurrencies saw any gains since this time yesterday, with some actually seeing some relatively losses - most notably Solana (SOL), which fell 7 per cent, and Cardano (ADA), which dropped by more than 5 per cent.
Most bitcoin investors are new
Tuesday 7 December 2021 16:20 , Anthony Cuthbertson
The majority of current bitcoin holders are new to the market, according to new research from crypto firm Grayscale.
Roughly 55 per cent of BTC investors bought in over the last 12 months, as interest and demand in the cryptocurrency shot up alongside its price.
Bitcoin has risen more than 200 per cent since this time last year, but it’s been a bumpy ride to get here.
“It is becoming increasingly difficult for investors to ignore bitcoin as its price continues to rise,” Grayscale said, noting that investors are increasingly treating it as a store of value.
Bitcoin price growth failing to go parabolic in Q4 is ‘healthy'
Tuesday 7 December 2021 13:09 , Anthony Cuthbertson
Many analysts had predicted bitcoin’s price to reach above $100,000 before the end of 2021, though with the cryptocurrency still at just half that figure this projection is looking less likely by the day. While some ultra-bullish bitcoiners believe it still can reach such heights, others are making more cautious, yet still positive, forecasts.
Crypto commentator Benjamin Cowen believes the lack of massive price gains in the final months of the year is a good thing for bitcoin long-term, and suggests that the 2020/21 bull run still holds a lot of potential.
“Bitcoin and crypto looks good to me,” he tweeted, alongside a graph that charts the trajectory he expects for BTC’s price over the next two years. “No parabolic Q4, which is healthy and in line with the idea that the market cycle still has a long way to go.”
— Benjamin Cowen (@intocryptoverse) December 6, 2021
Bitcoin price enters rare ‘oversold’ territory
Tuesday 7 December 2021 10:19 , Anthony Cuthbertson
Another bitcoin price metric has just hit a buy signal, according to one expert.
Philip Swift, an analyst at crypto market intelligence firm DecenTrader, noted that BTC has entered rare “oversold” territory that it has only been in seven times in the last eight years.
Bitcoin’s Advanced NVT Signal, which uses market capitalisation and network volume to calculate if the cryptocurrency is overbought or oversold, fell deep into the oversold region following the latest market downturn.
“A lot of fear in the market currently, which makes me bullish,” Swift tweeted this morning. “Lots of indicators suggest we are near a bottom.”
1/ A lot of fear in the market currently, which makes me bullish.
Lots of indicators suggest we are near a bottom.
Advanced NVT Signal looks at price relative to onchain transactions. It has only been this oversold a few times before, each time resulting in a strong bounce. pic.twitter.com/binLC6AgZX
— Philip Swift (@PositiveCrypto) December 7, 2021
Tuesday 7 December 2021 03:01 , Vishwam Sankaran
Crypto market showing signs of recovery from Friday crash
The prices of bitcoin and ethereum have improved over the last 24 hours, rising by nearly 4 per cent.
However, bitcoin is still down by over 11 per cent compared to its value a week earlier.
Other cryptocurrencies, including cardano and polkadot have also grown by 3 to 5 per cent in the last day but are still down compared to their prices 7 days earlier.
The overall crypto market has grown by about 3.5 per cent in the last 24 hours and is currently valued at about $2.36 trillion.
Meme coins dogecoin and its spinoff shiba inu are also down by over 15 per cent in the last week, but seem to be recovering, growing by about 4 per cent in the last 24 hours.
The chart still looks mostly red with some signs of recovery.
Happy birthday Dogecoin!
Monday 6 December 2021 14:49 , Anthony Cuthbertson
Today marks the eighth birthday of dogecoin, the original meme cryptocurrency.
Co-creator Billy Markus, who counts Elon Musk and Jack Dorsey among his Twitter followers, celebrated in typical style with a gif of a Shiba Inu dog wearing a party hat.
2021 was the second strangest year of my life, only eclipsed by 2013.
The year dogecoin was born.
Happy 8th birthday to you, cryptocurrency plus funny yellow dog ~ pic.twitter.com/SID1SF30z3
— Shibetoshi Nakamoto (@BillyM2k) December 6, 2021
This year was the first time since Markus reinvested in the cryptocurrency, having spent his original holdings not long after the cryptocurrency was created in 2013.
Myself and video producer Charlie Craven made this short video earlier this year, just as its price was once again taking off, to explain what all the fuss is about.
PlanB still bullish on bitcoin price
Monday 6 December 2021 13:43 , Anthony Cuthbertson
One of the few things to keep pace with the crypto market’s growth over the last 12 months has been the follower count of PlanB, the pseudonymous Dutch analyst whose Stock-to-Flow (S2F) price prediction model for bitcoin has been hailed for its accuracy.
PlanB’s Twitter following has risen from tens of thousands to more than 1.6 million since this time last year, as cryptocurrency investors and watchers seek to garner insights into the market from his posts.
The S2F model he is most famous for puts BTC on a path to reach above $100,000 this cycle, though the latest crash has left some doubts over whether it can be reached. After a brief hiatus, he is back to assure his followers that he still has faith in bitcoin returning to new all-time highs.
“Bitcoin realised cap still increasing after March $58.8K close .. you can not keep the ball under water forever,” he tweeted today.
Crypto ‘bank heist’ sees BitMart exchange lose $196m
Monday 6 December 2021 12:19 , Anthony Cuthbertson
The CEO of BitMart has confirmed the cryptocurrency exchange has suffered a “large-scale security breach”, resulting in the loss of an estimated $196 million.
Sheldon Xia said any users impacted by the hack will be compensated, and that deposits and withdrawals will resume at some point tomorrow.
One security expert told The Independent that it is “a modern version of a bank heist with arguably less risk and less effort”, and warned hackers may be encouraged by its success.
You can read the full story here.
Crypto market in ‘extreme fear'
Monday 6 December 2021 10:49 , Anthony Cuthbertson
A popular metric for measuring crypto market sentiment has entered a period of “extreme fear”.
The Fear & Greed Index swung wildly to the left following the latest cryptocurrency crash, registering a score of just 16 compared to a score of 71 last month, when sentiment was pointed towards greed.
This is the lowest level since July, when the price of bitcoin briefly fell below $30,000. What followed was a solid market rally leading to new all-time highs, with some analysts and market commentators using the metric as a signal to buy. “Extreme fear, buy. Extreme Greed, sell,” one investor noted. “Rinse and repeat.”
Hello and welcome...
Monday 6 December 2021 10:28 , Anthony Cuthbertson
to The Independent’s live coverage of the crypto market. We’ll be bringing you all the latest updates, analysis and expert price predictions for bitcoin and other leading cryptocurrencies – as well as occasionally news of the more obscure ones.