Close Menu
TechCentralTechCentral

    Subscribe to the newsletter

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    Facebook X (Twitter) YouTube LinkedIn
    WhatsApp Facebook X (Twitter) LinkedIn YouTube
    TechCentralTechCentral
    • News

      Siemens is battling Big Tech for AI supremacy in factories

      24 June 2025

      Tesla shares soar after first robo-taxi rides hit the road

      24 June 2025

      ‘System offline’ scourge to end, says Schreiber – but industry must pay

      23 June 2025

      Why the spectrum gold rush may soon be over

      23 June 2025

      Tech stability key to getting South Africa off damaging financial grey list

      23 June 2025
    • World

      Mira Murati’s Thinking Machines hits $10-billion valuation

      24 June 2025

      Watch | Starship rocket explodes in setback to Musk’s Mars mission

      19 June 2025

      Trump Mobile dials into politics, profit and patriarchy

      17 June 2025

      Samsung plots health data hub to link users and doctors in real time

      17 June 2025

      Beijing’s chip champions blacklisted by Taiwan

      16 June 2025
    • In-depth

      Meta bets $72-billion on AI – and investors love it

      17 June 2025

      MultiChoice may unbundle SuperSport from DStv

      12 June 2025

      Grok promised bias-free chat. Then came the edits

      2 June 2025

      Digital fortress: We go inside JB5, Teraco’s giant new AI-ready data centre

      30 May 2025

      Sam Altman and Jony Ive’s big bet to out-Apple Apple

      22 May 2025
    • TCS

      TechCentral Nexus S0E3: Behind Takealot’s revenue surge

      23 June 2025

      TCS | South Africa’s Sociable wants to make social media social again

      23 June 2025

      TCS+ | AfriGIS’s Helen Hulett on how tech can help resolve South Africa’s water crisis

      18 June 2025

      TechCentral Nexus S0E2: South Africa’s digital battlefield

      16 June 2025

      TechCentral Nexus S0E1: Starlink, BEE and a new leader at Vodacom

      8 June 2025
    • Opinion

      South Africa pioneered drone laws a decade ago – now it must catch up

      17 June 2025

      AI and the future of ICT distribution

      16 June 2025

      Singapore soared – why can’t we? Lessons South Africa refuses to learn

      13 June 2025

      Beyond the box: why IT distribution depends on real partnerships

      2 June 2025

      South Africa’s next crisis? Being offline in an AI-driven world

      2 June 2025
    • Company Hubs
      • Africa Data Centres
      • AfriGIS
      • Altron Digital Business
      • Altron Document Solutions
      • Altron Group
      • Arctic Wolf
      • AvertITD
      • Braintree
      • CallMiner
      • CambriLearn
      • CYBER1 Solutions
      • Digicloud Africa
      • Digimune
      • Domains.co.za
      • ESET
      • Euphoria Telecom
      • Incredible Business
      • iONLINE
      • Iris Network Systems
      • LSD Open
      • NEC XON
      • Network Platforms
      • Next DLP
      • Ovations
      • Paracon
      • Paratus
      • Q-KON
      • SevenC
      • SkyWire
      • Solid8 Technologies
      • Telit Cinterion
      • Tenable
      • Vertiv
      • Videri Digital
      • Wipro
      • Workday
    • Sections
      • AI and machine learning
      • Banking
      • Broadcasting and Media
      • Cloud services
      • Contact centres and CX
      • Cryptocurrencies
      • Education and skills
      • Electronics and hardware
      • Energy and sustainability
      • Enterprise software
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Lifestyle
      • Motoring
      • Public sector
      • Retail and e-commerce
      • Science
      • SMEs and start-ups
      • Social media
      • Talent and leadership
      • Telecoms
    • Events
    • Advertise
    TechCentralTechCentral
    Home » Cryptocurrencies » Bitcoin sells off after ‘halving’ fails to ignite price surge

    Bitcoin sells off after ‘halving’ fails to ignite price surge

    By Agency Staff15 June 2020
    Twitter LinkedIn Facebook WhatsApp Email Telegram Copy Link
    News Alerts
    WhatsApp

    Bitcoin slid below US$9 000 on Monday for the first time since May, joining a downdraft in global equities begun during Asia hours amid growing concern about the risks of a second wave of coronavirus infections.

    The largest cryptocurrency tumbled as much as 5.1% on Monday and recovered to about $9 100 as of 8.55am in London, according to consolidated pricing data from Bloomberg. For the first time since the end of April, the token dipped below its 50-day moving average, a level that’s considered a point of resistance for some traders.

    Bitcoin has flirted with $10 000 since May, failing to sustain a rally above that key psychological level after the closely watched “halving” industry event that reduced the amount of the cryptocurrency earned by miners.

    We tapped liquidity at the $10 000 level and are now coming back down. I expect $8 500 to hold, but if not we’re looking at $7 700…

    Stocks slid globally on Monday alongside US equity futures, in an echo of last Thursday’s risk-off mode. Chinese economic data on Monday disappointed investors, with a smaller bounce back in May than economists expected. On the virus front, the US showed a pick-up in cases, Tokyo reported a jump of its own over the weekend and China is racing to contain a new outbreak in Beijing that reached nearly 100 infections.

    “I think it’s definitely part of the broader sell-off that we also saw in equities last week,” said Vijay Ayyar, head of business development with crypto exchange Luno. “We tapped liquidity at the $10 000 level and are now coming back down. I expect $8 500 to hold, but if not we’re looking at $7 700 and then $7 100.”

    The wider Bloomberg Galaxy Crypto Index declined on Monday as much as 6.5% as rival digital currencies including ether, XRP and litecoin also retreated.  — Reported by Eric Lam, (c) 2020 Bloomberg LP



    Bitcoin Luno top Vijay Ayyar
    Subscribe to TechCentral Subscribe to TechCentral
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email Copy Link
    Previous ArticleSouth African smartphone market plunges 23%
    Next Article WhatsApp payments launched in Brazil with more markets to follow

    Related Posts

    South Africa risks being left behind as stablecoins reshape global finance

    6 June 2025

    Bitcoin smashes R2-million mark in record-breaking rally

    22 May 2025

    Trump tariffs are now slamming crypto

    7 April 2025
    Company News

    IoT connectivity management in South Africa – expert insights

    23 June 2025

    Let’s reimagine Joburg using the power of tech, data and AI

    23 June 2025

    Netstar doubles down on global markets while backing SA growth

    23 June 2025
    Opinion

    South Africa pioneered drone laws a decade ago – now it must catch up

    17 June 2025

    AI and the future of ICT distribution

    16 June 2025

    Singapore soared – why can’t we? Lessons South Africa refuses to learn

    13 June 2025

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2025 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.