Bitcoin slid below $9 000 on Monday for the first time since May, joining a downdraft in global equities amid growing concern about the risks of a second wave of coronavirus infections.
Investors expecting a sudden surge in bitcoin’s price, after it underwent a technical adjustment three weeks ago that reduced the rate at which new coins are generated, may have to wait.
Major cryptocurrencies including bitcoin and ether have surged over the past week, but technical indicators show they’re butting up against a key resistance level.
The world’s biggest cryptocurrency rallied back above $10 000 ahead of a technical event seen by some as having driven the price higher recently.
It’s been left for dead more than once. Yet bitcoin is once again staging a comeback reminiscent of the token’s glory days, with evangelists pegging their hopes on a technical event as the new catalyst.
Excitement over bitcoin’s upcoming halving and an overall risk-on environment are pushing up cryptocurrencies, with the largest token reaching its highest level since before the coronavirus-induced crash.
As bitcoin’s “halving” approaches, the cryptocurrency’s supporters and sceptics are debating what kind of impact it may have on the coin’s value. What does it all mean?
Buoyed by an overall shift in risk sentiment, cryptocurrencies surged on Thursday, with bitcoin surpassing $7 500 for the first time since crashing in early March.
As risk assets regain their mojo amid optimism the coronavirus spread is beginning to level off, bitcoin’s back above $7 000 and may be headed higher still.
The cryptocurrency industry’s struggles to attract mainstream investment continued last year as global fund raising and deals both dried up, according to a new report from PricewaterhouseCoopers.
