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.
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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.
After weeks of brutal selling, technical gauges are signalling potentially positive developments ahead for battered crypto assets.
Large professional and institutional traders were among the biggest sellers during the rout that saw bitcoin tumble about 40% this month, according to analysis from researcher Chainalysis.
Bitcoin is proving to be no haven asset amid the current global market meltdown. The price of the largest digital currency continued to swing wildly as the latest rout showed no signs of slowing down.
Bitcoin slumped through $6 000 on Thursday, leading a rout of cryptocurrencies amid a wider global risk asset sell-off over the intensifying coronavirus crisis.
Cryptocurrencies are not immune to the gyrations rocking global markets, plunging along with a broad range of assets on Monday in the wake of the collapse in crude oil prices.