Crypto news

The price of the Terra (LUNA) cryptocurrency has fallen by more than 99 per cent, wiping out the fortunes of crypto investors. Terra, which ranked among the ...

With Bitcoin and other leading crypto currencies suffering dramatic falls recently, is this the right time to enter the market in hopes of an upturn?

Pavel Matveev of digital exchange Wirex advises buyers to hedge their bets. However, as with every kind of investment, let alone the unpredictable world of cryptocurrencies, past performance is no guarantee of future results. Dip buyers hope to exploit dips by buying at a relative discount and reaping the rewards when prices rise again. If Bitcoin falls below this support level, it could even drop further to $25,000 before any significant move back up. Central Banks are between a rock and a hard place with regard to slow economic growth and high inflation. It says there are no guarantees of returns and that people should be prepared to lose everything they invest.

As much as markets are going through it right now, cryptocurrencies are really going through it, and the myriad disasters haven't abated just yet.

Some of its remaining users don’t even use it for Bitcoin trading and merely use the virtual wallet to store dollars, while other Bitcoin traders are switching their holdings to private wallets. On Tuesday, he revealed plans for “Bitcoin City,” a so-called smart city to be powered by the currency, and as the Bitcoin crash continued, his government made its biggest Bitcoin purchase yet, “buying the dip” to scoop up 500 coins at an average cost of $30,744. Many of them downloaded the wallet during its rollout last September only to ditch it after receiving a small sign-up cash bonus, and new downloads of the wallet have slowed down. The International Monetary Fund is pegging offers of a loan to demands for the country to stop using Bitcoin as legal tender. It’s too soon to predict whether this bodes apocalyptic—after all, hundreds of reports of crypto’s death over the years were greatly exaggerated. Well, as is true with stock markets, there appear to be a lot of Bitcoiners selling off their holdings in the wake of financial and economic insecurity. This led to further loss of confidence in the overall Terra platform; as Luna went down, so did TerraUSD. The CEO of Terra’s parent company utilized emergency reserves of Bitcoin— which the project buys to back TerraUSD in part—to try to prop the stablecoins’ value back up, to little avail. When the Fed announced its interest-rate hike and traders withdrew their currencies en masse, billions of dollars of value fled Anchor at once. The crypto project Terra produces the two coins: the TerraUSD coin, a stablecoin, and its sister token, Luna, whose price moves with demand. Nearly 40 percent of Bitcoin holders have lost all the money they’d invested in the currency, as the value of a single coin has dropped below even last year’s post-crash July low. Bitcoin gains its value from the limited amount of coins available in its network, the number of holders, and investor confidence. Within the world of crypto, there are different types of value systems.

Bitcoin and cryptocurrencies have crashed further overnight, dropping to levels not seen since the crypto market began surging in late 2020...

The market inclines to sell on that kind of uncertainty and that is why stocks and crypto fell, but there is also a hope that inflation in the U.S. will continue to alleviate." Want to stay ahead of the market and understand the latest crypto news? Sign up now for the free CryptoCodex—A daily newsletter for crypto investors and the crypto-curious

Bitcoin slumped below $27000 Thursday for the first time in over 16 months as cryptocurrency markets extended their losses.

Economists have long feared that tether may not have the required amount of reserves to bolster its dollar peg in the event of mass withdrawals. Adding to investors' fears Thursday was a drop in the value of tether, the world's biggest stablecoin. Ether, the second-biggest digital currency, tanked to as low as $1,789 per coin. Digital currency investors often turn to them for safety in times of volatility in the markets. That's a risky gamble, not least because bitcoin is itself an incredibly volatile asset. That marks the first time bitcoin has sunk below the $27,000 level since Dec. 30, 2020.

Cryptocurrency startup BVNK (pronounced 'bee-vee-en-kay') has closed a $40 million Series A funding round at a $340 million post-money valuation.

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