Month: May 2022

Bitcoin Recovers Above $30,000, Has The Bottom Been Marked?

Bitcoin has now started another recovery trend that has seen it mark its position above $30,000 once more. This is a welcome development after the market had seen various crashes that have sent investors into a panic. However, while investors heave a sigh of relief as the digital asset has begun to recover, other concerns have arisen in the market, including if the uptrend will continue and if bitcoin has already seen the bottom of this crash. Did It Mark The Bottom? The recent comeback has indicated that bitcoin has…

Taxation on Cryptocurrency Explained | How to Pay Zero Tax? | Bitcoin is not Legal in India?

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to support@coindcx.com Learn How to Pay Zero Tax on Cryptocurrency, and is Bitcoin Legal in India or Not? Download India’s safest cryptocurrency exchange app, CoinDCX: Download CoinDCX and signup using code PUSHKAR100 and get your sample Bitcoin worth Rs100. #AD #Collaboration Buying Bitcoin on CoinDCX is as easy as tapping on…

Bitcoin macro bottom ‘not in yet’ warns analyst as BTC price holds $30K

Bitcoin (BTC) failed to clinch $31,000 by the Wall Street open on May 13 as new warnings forecast a continuation of the downside. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Dollar declines, stocks bounce at week’s end Data from Cointelegraph Markets Pro and TradingView showed BTC/USD consolidating after reaching just short of $31,000 earlier on the day. United States stock markets saw some relief, the S&P 500 up 2.2% and the Nasdaq gaining 3.3% on the open. The conspicuous exception was Twitter stock, which at the time of writing traded down…

What happened? Terra debacle exposes flaws plaguing the crypto industry

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The past week has been a dark period in the history of crypto, with the total market capitalization of this industry dipping as low as $1.2 trillion for the first time since July 2021. The turmoil, in large part, has been due to the real-time disintegration of Terra, a Cosmos-based protocol that powers a suite of algorithmic stablecoins. Approximately a week ago, Terra (LUNA) ranked among the 10 most valuable cryptocurrencies in the market, with a single token trading at a price point of $85. By May 11, however, the…

Bitcoin Price Takes Deepest Dive Since 2020, Will BTC Bounce?

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Suffering the effect of the current bloodbath in the crypto market, Bitcoin’s (BTC) price on May 12 hit its lowest valuation of $26,350 since December 2020. The ongoing bearish trend has remarkable similarity with the previous mid-season bearish trend that lasted from May to June 2021. In both market crashes, Bitcoin’s price broke the resistance level of $30,000. Recently, it had dropped more than it reversed back in June 2021 when the BTC’s valuation stopped losing at $29,800. In contrast, its price in the current market clash has touched the…

SHIB, DOT Nearly 30% Higher, as SOL Also Surges – Market Updates Bitcoin News

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Cryptocurrency markets were mostly in the green on Friday, as DOT was up by nearly 40%, moving away from an 18-month low. Although SOL, AVAX, and MATIC all rose by over 20%, it was SHIB that was one of the standout gainers in today’s session. Polkadot (DOT) DOT was one of today’s biggest gainers, as it climbed by nearly 40% during Friday’s stretch, moving away from recent lows in the process. On Friday, DOT/USD surged to a peak of $11.73, which comes less than 24 hours after it hit a…

Coinbase, MicroStrategy and Other Crypto Stocks Finally See Some Relief After Recent Losses

“The extent of the damage caused from the depegging of recent stablecoins, and collapse of LUNA is unknown and will likely continue to play out in the weeks to come, but we expect that recent events in the crypto market to be catalysts for regulation, particularly around stablecoins, which we think would be welcomed by investors,” Chris Allen, an equity research analyst at Compass Point told clients in a note Friday. Source

Why the Fed Will Go Back to Easy Money

But in 2009 and beyond, the Obama Administration was thrust into battle with a Republican-controlled Congress. The two sides searched, against all odds, for a bipartisan agreement to back fiscal spending projects, but other than the controversial trillion-dollar bailout programs that kept Wall Street from imploding, nothing substantial to address mainstream America’s needs was ever passed. Stimulus initiatives became piecemeal and politicized and were ultimately insufficient to give the U.S. economy what it needed to grow. Source

‘A Dark Day for Crypto’ — A Deep Dive Into the Obliterated Terra Token Ecosystem and Damaged Apps – Bitcoin News

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Following a few days of carnage, the two leading crypto assets built on top of the Terra blockchain have plummeted to significant lows. LUNA has dropped to $0.00000100 per coin and the once-stable coin terrausd (UST) hit a low of $0.044 per unit. After temporarily halting the Terra blockchain and restarting it, the team has once again halted block production at block height 7,607,789. The team restarted the chain again at 8:46 a.m. (ET) and disabled onchain swaps. Do Kwon’s ‘Amusing Morning’ of De-Pegging Jokes Becomes a Scary Reality Five…