BTC

2022 - 6 - 19

Bitcoin sinks below $19000 as crypto meltdown intensifies (CNBC)

Crypto investors are grappling with aggressive interest rate hikes from the U.S. Federal Reserve and a worsening liquidity crunch.

It holds lots of assets in the so-called decentralized finance space. The last time bitcoin traded around this level was December 2020. "This process is without doubt painful, but ultimately the lack of a centralized backstop is a good thing as it means moral hazard is avoided because there are no bailouts in crypto unlike in the fiat system." Zu Shu, the firm's co-founder, said it was "in the process of communicating with relevant parties and fully committed to working this out." Ryan Shea, an economist at crypto investment firm Trakx.io, said the recent stress in digital assets was the "crypto market equivalent of natural selection." The $10 billion crypto hedge fund is reportedly on the brink of insolvency after the plunge in crypto markets reduces the value of its holdings.

Bitcoin Plummets Below $20000 for First Time Since November 2020 (The New York Times)

Its fall was accelerated in recent weeks by the collapse of two major cryptocurrency projects while sowing doubts about the stability of the overall ...

The recent sell-off has led to cutbacks at companies that were in hyper-growth just a few months ago. Companies created elaborate ways to make loans or let people use their Bitcoin as collateral in a sector that is known as decentralized finance, or DeFi. But Bitcoin’s transparency — the ledger is public for anyone to see — has also helped prosecutors track down some criminals and even recover ransom payments. Square, another payments company, bought $50 million of Bitcoin and changed its name to Block, in part to signify its work with blockchain technology. TerraForm Labs, which created TerraUSD, a so-called stablecoin, and Celsius, an experimental crypto bank, both collapsed, wiping out billions in value and sending the broader market into a tailspin. Last summer, El Salvador announced that it would become the first country to classify Bitcoin as legal tender, alongside the U.S. dollar. Some investors saw Bitcoin as a safe place to park cash after central banks flooded the economy with money, creating fears of inflation. The digital currency relies on a decentralized network of computers that log each transaction on a permanent record known as a blockchain. As investors flee to less risky assets, “this creates a cascade effect on top of the contagion effect,” he said. The run-up also pushed Wall Street and Fortune 500 companies to become more open to something they once dismissed. Its fall was accelerated in recent weeks by the collapse of two major cryptocurrency projects, Terra-Luna and Celsius, while sowing doubts about the stability of the overall cryptocurrency market. Bitcoin has erased some $900 billion of value since its peak in November.

Crypto Market Tumbles As Bitcoin Breaks Previous Cycle's Highs (Coindesk)

Bitcoin's price drop Saturday morning also brought down the broader crypto currency market, with Ether tumbling 12.4% to $948, well below its 2017-2018 cycle ...

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Bitcoin has historically experienced periods of asymptotic price run-ups followed by steep crashes, typically played out over several months to two years. As of press time, bitcoin was trading at about $18,319 a coin, a 10.8% decline over the past 24 hours. Bitcoin’s price fell well below $19,783, the all-time high it notched in December 2017. The price drop of bitcoin also marks the breach of a significant price level – namely, bitcoin’s all-time high from the previous crypto cycle. Bitcoin’s price fell well below $19,783, the all-time high it notched in December 2017.

Serious $10000 Warning As Massive Meltdown Sends Bitcoin ... (Forbes)

Bitcoin has crashed under $20000 per bitcoin after a huge crypto market meltdown wiped away around $400 billion of value in just a week...

The trend in crypto is clearly not positive," Gundlach, the chief executive of DoubleLine Capital, CNBC this week. Want to stay ahead of the market and understand the latest crypto news? The bitcoin price—dropping under the psychological $20,000 barrier that it first topped in late 2017 before entering a three-year bear market—has lost around $10,000 from its price since earlier this month as fears over Federal Reserve monetary tightening and the rising risk of a recession drag on asset prices across the board.

The BTC origin story: Who designed the Bitcoin logo? (Cointelegraph)

The decentralized nature of the Bitcoin ecosystem allows the general public to contribute to the network in various forms based on community consensus, ...

On November 1, 2010, Bitcoin community member bitboy released a new iteration of the Bitcoin logo based on Satoshi’s design. Based on community feedback, Satoshi then incorporated changes into the new logo and released the copyright-free images into the public domain. The decentralized nature of the Bitcoin ecosystem allows the general public to contribute to the Bitcoin network in various forms based on community consensus, including logo designs.

Bitcoin Supply In Loss Reaches 50% As BTC Drops Below $20k (newsbtc.com)

On-chain data shows the percentage of the Bitcoin supply in loss has surged to almost 50% now as the crypto's price tumbles below $20k. 49.94% Of The.

At the time of writing, Bitcoin’s price floats around $19.2k, down 33% in the last seven days. The supply in loss naturally only counts the former type of coins. As you can see in the above graph, the percentage of the Bitcoin supply in loss has been going up in recent weeks as the price has been crashing down.

Bitcoin value plunges below $US20,000 for first time since 2020 (ABC News)

The cryptocurrency industry has seen turmoil amid wider turbulence in financial markets; Bitcoin hit an all time high of $US69,000; The overall market value of ...

"There is a lot of turbulence in the market," Mr Fracassi said. The overall market value of cryptocurrency assets has fallen from $US3 trillion to below $US1 trillion, according to coinmarketcap.com, which tracks crypto prices. - The overall market value of cryptocurrency assets has fallen from $US3 trillion to below $US1 trillion

Sign crypto is finally dead (NEWS.com.au)

Cryptocurrencies including bitcoin, ethereum, BNB, cardano and Ripple XRP have faced a tough year, with fluctuating values and more.

Our operations continue and we will continue to share information with the community. Acting in the interest of our community is our top priority. Previous moves by the country to crackdown on mining and trading of crypto has previously sent markets plunging. The latest plunge follows a crypto crash at the start of December, shortly after bitcoin hit a record value of US$69,000 in November. One trader lost $5 billion after the price of bitcoin plummeted in December, highlighting the risks of investing in crypto. At the start of last month, bitcoin was trading at US$36,141.33 (A$52,000), according to CoinMarketCap.

BTC

Explore the last week