New Delhi: Major cryptocurrencies continued to gain following a rally in the weekend. However, investors booked profits in a couple of altcoins.
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US cryptocurrency exchange Coinbase Global Inc on Tuesday reported a nearly 30% fall in third-quarter trading volumes on a sequential basis, hit by lower volatility and declining prices of Bitcoin and other cryptocurrencies.
Landry’s Select Club members will be able to earn Bitcoin-centric rewards points at 500 restaurant locations around the United States. Fresh Bitcoin price highs put bulls in profit for Friday’s $1.2B BTC options expiry
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Bitcoin is down roughly 20% week-over-week, around 30% from its all-time high of nearly $65,000 early last week. The market cap of the coin has dipped below $1 trillion. The tumble has been less severe for Ethereum, which hit an all-time high just yesterday but has since dropped 13% as the broader market has crawled back.
“They basically walked around showing people with Lambos and talking crap,” said Cora Harrison, a YouTube personal finance influencer. “It was just really random and not what you wanted to see from somebody to invest money with.”
Popular cryptocurrencies such as Bitcoin and Ethereum are built on blockchain technology. Blockchains like Bitcoin and Ethereum are constantly growing as new blocks are added to the chain, increasing the security of the ledger dramatically.
This positive view will invalidate if the price turns down from the current level or the overhead resistance and plummets below the support line of the wedge.
“We do it in the equity market, we do it in the bond markets, people might want it here,” Gensler said at the Aspen Security Forum over the summer.
Home / Markets / Cryptocurrency / This cryptocurrency zoomed over 70,000% in just 24 hours This cryptocurrency zoomed over 70,000% in just 24 hours Premium The crypto has been very volatile in the past week with huge price swings 2 min read . Updated: 11 Nov 2021, 05:31 PM IST Livemint
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It’s always hard to know exactly what is driving crypto prices given the opacity of the market and a certain rather large player whose name rhymes with weather, but we think it’s probably partly related to the same market madness that drove GameStop to da moon, as well as to a desire for an alternative to central bank-issued money due to worries about the government overreach (by means of Covid restrictions), and also endorsements from chief executives at the likes of PayPal, Tesla and Twitter/Square.
We’ll go through the several factors that influence demand for a particular crypto, but before we do that, it’s important to note that cryptocurrencies don’t fit comfortably into our existing asset categories.
In early November, FTM formed an inverse head and shoulder pattern, eventually breaking the neckline with a steep rise close to $3.2. However, it is now recovering from the steep drop it experienced overnight along with the market. On its way down, it broke through several local support levels.
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The market for cryptocurrencies has roughly quadrupled from its 2020 year-end value [File: Paul Yeung/Bloomberg]