No Results Found
The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.
The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.
Photo by Kanchanara on Unsplash
Blockchain and Financial technology | Decentralized Finance (DeFi) | Cryptocurrency | Bitcoin Trading
Information Technology News
Bitcoin and many other cryptocurrencies values have continued to drop recently
Bitcoin and many other cryptocurrencies traded at a lower price last week as their values continue to drop in recent times. Despite the continuous dip in the market, Bitcoin’s spot trading volumes are at their lowest point in six months, despite the global market rout.
According to CNBC, some experts believe bitcoin is due for a sharp decline in the coming months. However, heightened regulatory scrutiny and intense price fluctuations have dampened bitcoin’s prospects lately. And experts warn the market could be heading toward a downturn.
The first strategic Bitcoin Exchange Trading Fund (ETF) begins
One of the reasons for the recent drop in values is that investors and traders of Bitcoin and other cryptocurrencies are dipping their risk appetite in investing in the crypto assets – a marketing drive regarded as one of the most speculative.
This is a high-risk high-reward game and investors must be able to digest high volatility. As the May crash showed,
There is a possibility the price of crypto coins might fall beyond 70-80% of the record price.
Canadian city becomes first in the world to heat buildings through Bitcoin mining
Crypto-market analysts have said that the rising U.S bond yields are weighing heavily on Bitcoin and many other crypto assets, causing them to trade at a lower price than before.
U.S. Treasury yields climbed on 4th January, after the Labor Department reported November’s job openings report, according to CNBC.
The yield on the benchmark 10-year Treasury note rose 1.7 basis points to 1.647%. The yield on the 30-year Treasury bond added 4 basis points, advancing to 2.058%. Yields move inversely to prices and 1 basis point is equal to 0.01%.
Bitcoin is key to the future of our services – Twitter
Another reason traders may have been hesitant to make their move in the market is because of the protracted fearfulness in combination with the recent low volatility. Questions are still raised if the cryptocurrency market would be volatile in 2022, according to Indian Economic Times.
Nairametrics reported that based on data from Glassnode, realized losses of Bitcoin holders are still raised and trending higher, as underwater holders are spending coins they acquired near the top of the market. The quoted realized losses are on average about 750 million dollars per day, similar to the capitulation lows of May – July 2021.
Almost half of Britons want cryptocurrencies banned to fight climate change.
Investors in Bitcoin are lacking confidence in the market. Crypto investors have also recently exhibited some caution because the bitcoin futures market has a bearish bias in terms of leverage and has quite been unregulated.
In the wake of the latest price declines in Bitcoin and major altcoins, investors who made leveraged bets in the notoriously volatile markets are suffering a large amount of pain, resulting in about $340 million in liquidations as of 11th January.
Bitcoin, along with other digital cryptocurrencies, crashed to its lowest level on Saturday, 22nd January, and the continuing meltdown has wiped out over $1 trillion from the global crypto market value.
Bitcoin was hovering at $35,000 per coin and the largest digital asset by market value has lost more than 40 percent since reaching its peak in November 2021.
Bitcoin hit an all-time high of roughly $69,000 in November.
The crypto crash came as the US Federal Reserve raised the possibility of boosting interest rates as soon as March and withdrawing stimulus from the market.
Other digital currencies, Ethereum, Finance Coin, and Cardano also witnessed similar meltdowns. Solana, Dogecoin, and Shiba Inu also saw massive drops.
China says all cryptocurrency transactions are illegal
This blog content on ‘Blockchain and Financial technology | Decentralized Finance (DeFi) | Cryptocurrency: ‘4 reasons Bitcoin and many other cryptocurrencies values have continued to drop recently’ is categorized under Information Technology Education News.
Our Information Technology Education News System is about creating and delivering impacting, empowering problem-solving information, and enhancing effective communication skills to our amiable readers for better livelihood – Eduonwheels.