Bitcoin
2024 - 2 - 29Bitcoin Madness: From $60K Surges to Profit-Taking Plunges
btc Bitcoin - Cryptocurrency - Finance - Investing - Market Trends - btcBitcoin rollercoaster ride with record highs and sudden drops - what's next for the cryptocurrency?
Bitcoin has been on a wild journey recently, from reaching record highs above $63,000 to plunging back below $60,000 due to profit-taking. The cryptocurrency's price fluctuations have kept investors on edge, with analysts attributing the latest drop to a surge in profit-taking after prices approached $64,000. Crypto trading platform Coinbase faced disruptions as traffic spiked to 10 times its normal volume, causing some users to see a zero balance in their accounts. Despite the volatility, Bitcoin is poised for its biggest monthly gain since 2020, hinting at a continued rollercoaster in the crypto market.
Optimism surrounds Bitcoin's future as it crosses $63,000, with the anticipation of spot bitcoin ETFs and the approaching 'halving' event driving market sentiment. Major crypto-related stocks are also experiencing a boost, reflecting the overall positive outlook in the industry. The Australian market reacted to Bitcoin's surge, with ASX paring back losses after softer-than-expected retail data in January. Bitcoin's rally has also set a new record against the Australian dollar, fueled by increased trading activity among spot bitcoin exchange-traded funds.
Bitcoin's meteoric rise parallels its volatility, with the cryptocurrency hitting an Australian dollar record and nearing an all-time high. Industry leaders are divided in their views, as JPMorgan Chase CEO Jamie Dimon famously compared Bitcoin to a Pet Rock when it approached $45,000, urging caution in its adoption. Meanwhile, Hong Kong's largest bitcoin ETF assets have seen a five-fold increase since October, reaching over $100 million in assets under management. As Bitcoin continues its turbulent journey, the crypto world braces for what's next in this high-stakes game of digital currency.
Bitcoin Falls Back Below $60000 After Epic Rally (Forbes)
Bitcoin prices declined to less than $60000 this afternoon after approaching $64000. Analysts cited profit taking as being the primary cause of this ...
Bitcoin price tops $60000 for first time since 2021 (Financial Times)
Crypto trading platform Coinbase blamed traffic that was 10 times normal for disruptions to some users, including displays of a zero balance in their accounts.
Soaring bitcoin set for biggest monthly jump since 2020 (Reuters UK)
Frenetic activity in bitcoin put it on course for its biggest monthly gain in more than three years on Thursday and it is within range of a record high as ...
Bitcoin surges, briefly touching $64000 for the first time since ... (CNBC)
Bitcoin continued its surge on Wednesday, shooting above $63,000 for the first time since November 2021. The price of the flagship cryptocurrency was last ...
Bitcoin Crosses $63K as ETF Volumes Soar and 'Halving' Nears (Investopedia)
Optimism around spot bitcoin ETFs and the upcoming halving is driving market sentiment, according to a Grayscale report. Major crypto-related stocks, such as ...
Bitcoin hits Australian dollar record ahead of April's 'halving' (The Australian Financial Review)
Bitcoin soared to record highs on Thursday, buoyed by a surge in trading activity among spot bitcoin exchange-traded funds as investors scrambled to buy the ...
ASX pares back losses after retail data; Bitcoin rallies (The Sydney Morning Herald)
The Australian sharemarket moved into the green by midday after government data showed retail sales were softer than expected in January, sparking rate ...
Bitcoin to the moon? Here's why it's near an all-time high (CNN)
Last month, as bitcoin approached $45000, JPMorgan Chase CEO Jamie Dimon compared the cryptocurrency to a Pet Rock and said people need to “stop talking ...
Bitcoin hits Australian dollar record, ASX rises and Harvey Norman ... (ABC News)
The Australian share market closed higher, despite mixed profit results and disappointing retail sales figures. Bitcoin has hit an Australian dollar record ...
Watch: Earnings season over, Bitcoin demand (The New Daily)
Watch: Reporting season is underway, with Aussie giants like Harvey Norman reporting their earnings. Bitcoin has surged past $60,000, with demand for the ...
Hong Kong's largest bitcoin ETF assets up five-fold since October (Reuters)
Hong Kong's largest bitcoin futures exchange-traded fund saw its assets under management swell five-fold in the past five months to just over $100 million, ...
Bitcoin surges to $US60,000 with enthusiasts eyeing record highs (The Australian Financial Review)
“It's pretty nuts,” said Ryan Kim, head of derivatives at digital-asset prime brokerage FalconX. Near 3.45pm in New York, the cryptocurrency was 5.5 per cent ...
'Free Money'—Bitcoin 'Godzilla' Price Rally Is Being Eclipsed By ... (Forbes)
The price of these smaller cryptocurrencies have left the bitcoin price in the dust—with some declaring them "free money"...
Bitcoin rises, trading at $62000 to cap a winning month (CNBC)
Crypto prices rose on Thursday as bitcoin and ether headed for a winning month. Bitcoin was last higher by more than 4% at $62,901.93 on the final day of ...
Forbes Daily: Bitcoin Stages Massive Recovery (Forbes)
SEC investigates OpenAI; Congress has way to avoid shutdown; gas prices rising; Mitch McConnell to step down; who will lend to Trump; Disney World ticket ...
Global equities gain on in-line US inflation, dollar dips (Reuters)
A global equity index advanced on Thursday after a much anticipated U.S. inflation reading provided little surprise for relieved investors and helped push ...
Bitcoin Price Bounces To $62500, Up Nearly 50% In 2024 (Investor's Business Daily)
Bitcoin rebounds early Thursday after reversing from $64000 on Wednesday, its highest level since November 2021. Marathon Digital falls on earnings.
Bitcoin surge boosts Coinbase, crypto stocks reversing early 2024 ... (crypto.news)
The recent surge in Bitcoin has significantly impacted the performance of companies associated with crypto mining and trading, most seeing double-digit ...
What's driving the bitcoin surge? Experts weigh in. (ABC News)
A bitcoin ETF (exchange-traded fund) allows investors to buy into an asset that tracks the price movement of bitcoin, while avoiding the inconvenience and risk ...
Stephen Colbert Was Wrong on Bitcoin (Chicago Booth Review)
Surveys provide a snapshot of the 12 percent of Americans who own cryptocurrencies.
Bitcoin will soon be 'halved'—what that means for its price (CNBC)
This happens approximately every four years, and it discourages coin production by reducing the reward for mining new bitcoin by half. The last halving event ...
Bitcoin halving will benefit publicly listed miners: JPMorgan (Blockworks)
The share of publicly traded miners is poised to increase post-halving, JPMorgan analysts said in a new note.
Bitcoin Could Slide to $42K After Halving Hype Subsides, JPMorgan ... (Coindesk)
The bitcoin production cost has historically acted as a lower boundary to the cryptocurrency's price, the report said.
Bitcoin just had its best month since 2020 (Quartz)
The cryptocurrency jumped more than 40% in February ... Physical representations of the bitcoin cryptocurrency are seen in an illustration. ... Bitcoin is not just ...
Bitcoin soars to Australian dollar record ahead of supply crunch (Proactive Investors Australia)
Bitcoin is back above US$60000 and reached an Australian-dollar record high of $97000 yesterday amid overwhelming demand and a surge in trading of spot...
Bitcoin Blasting Toward Biggest Monthly Gain in 3 Years (Coindesk)
The largest crypto asset by market capitalization has gained a staggering 44% in February, piercing $50,000 and $60,000 for the first time in years and hitting ...
Is Bitcoin due for a major correction? JPMorgan predicts drop to ... (Fortune)
JPMorgan analysts predict that reduced miner rewards and doubling production costs will depress Bitcoin prices.
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