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Bitcoin’s (BTC) price hit another all-time high at $69,000, while Ether (ETH) continued its long slog toward $5,000 after reaching a new high at $4,868 earlier on Wednesday. Shortly after hitting this fresh milestone, however, traders began taking profit, leading to a nearly $7,000 drop, which plunged BTC’s price below $63,000.
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Bitcoin’s volatility is more reason for investors to play a steady long game. If you’re buying for long-term growth potential, then don’t worry about short-term swings. The best thing you can do is not look at your cryptocurrency investment, or “set it and forget it.” As experts continue to tell us each time there’s a price swing — whether up or down — emotional reaction can cause investors to act rashly and make decisions that result in losses on their investment.
Here is Bitcoin’s price today, why Bitcoin is up and the latest crypto news and prices for Ethereum, Shiba Inu coin, Dogecoin, XRP and more.
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The electric carmaker said in May that it would no longer accept the cryptocurrency for purchases. It's been a wild ride for bitcoin the last three years.
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Pagnotta, E. and A. Buraschi (2018). “An equilibrium valuation of Bitcoin and decentralized network assets”, Working paper .
But even this kind of pullback could not kill the inherent uptrend and in one of our previous reports, we mentioned that a breakout above $62,500 was required for BTC to resume strength.
Bhambhwani, S., S. Delikouras, and G. M. Korniotis (2019). “Do fundamentals drive cryptocurrency prices?”, Working paper .
SILVER SPRING, Md. (AP) — The chairman of the Securities and Exchange Commission said that investors need more protection in the cryptocurrency market, which he said is “rife with fraud, scams and abuse."
There was also a big debate on Safemoon tokenomics. Most of the competing coins have a more attractive and innovative tokenomic than Safemoon. While the Bitrise coin has an automated redemption and burn process, Safemoon burns manually. This means that the liquidity regulation of the Safemoon token is less transparent.
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“If it is a Ponzi, get in on the ground floor,” he said. In about an hour, the price of SafeMoon rose 18%. A Barstool Sports spokesperson was unable to confirm whether Portnoy still owns SafeMoon.
Digital payment company, Ripple, created XRP to work as a crypto payment platform and allow exchange between fiat and cryptocurrencies. It also enables other cryptocurrencies to be exchanged on its network. As a result, XRP has grown massively in recent years, and several banks now use the network to execute modern banking functions. If you want to invest in XRP visit this guide to learn more.
Mexico’s central bank on Monday swatted down the cryptocurrency enthusiasm expressed over the weekend by one of the country's leading bankers.
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