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Tag: bitcoin (page 1 of 2)

Bitcoin falls almost 50% compared to all-time high

On Sunday Bitcoin faced another huge sell-off that caused it to fall 13% and overall by almost 50% since hitting the peak in April this year. Ether also faced a tough time as it dropped by 17% on the day. The Crypto market has taken a hit since Elon Musk’s tweets on Tesla not accepting cryptocurrencies as payments. Recently China imposed a ban on banks and financial firms on providing crypto-related services which further affected the crypto-market.

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China’s new cryptocurrency law causes Bitcoin to fall below $40,000

After China’s new curbs on cryptocurrency, Bitcoin has dropped to a 3.5 month low, falling below the $40,000 mark. A drop of 40% since its all-time high of $64,895 in April 2021. Other cryptocurrencies also took a beating with Ether falling 12% and Dogecoin falling by 18%. Shares in COIN.O fell by 4% in pre-market trading. The recent selling of crypto has brought the market capitalisation of cryptocurrency from $3.5 trillion to $3 trillion.

After Musk tweets Bitcoin hits 3-month low then rallies

Bitcoin, following Elon Musk’s tweet, rallied from a three-month low in a session that went back and forth. Musk, however, clarified speculations and said Tesla has not sold any bitcoins. On Monday bitcoin dropped almost 9% but rallied back to more than 5%. Ether dropped to $3,123.94 and dogecoin dropped nearly 7%. Ever since Musk tweeted about Tesla not accepting payments in bitcoins for cars, bitcoin has dropped by almost a quarter.

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Ethereum breaks $3,000 barrier as value quadruple in 2021

Cryptocurrency Ether, the token transacted on the ethereum blockchain, witnessed a 3% rise on the Bitstamp exchange to touch $3,144 to set a new record. The present value of the digital currency has jumped 325% higher in the year so far, outgrowing a 95% rise of bitcoin. Both Ether and Bitcoin soared over 100% this year and hit a 2.5-year high on the last Sunday. The rise in Ether highlights the fact that investors are diversifying their exposure.

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Bitcoin slips to $47,5555 over Biden tax plans

Major digital currencies posted sharp losses after the news reports said that President Joe Biden was planning to double taxes on capital gains to 39.6% on an annual earning of $1 mn years, Bitcoin slipped to $47,555, falling below the $50k mark for the first time since March. Ether and XRP fell 3.5% and 6.7%, respectively, while dogecoin was down 20% at $0.21. The tax plans also jolted share markets, as investors booked profits and other risk assets.

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Personal data of 500 mn LinkedIn users up for sale

Names, email addresses, phone numbers, and genders of 500 mn LinkedIn profiles have been put up on sale, said the Microsoft owned professional network. Besides. another 2 mn records, which one can access to view after paying $2, have been leaked as a proof-of-concept sample, under which it mentions the 500 mn profile bank of the LinkedIn members. The personal information of 500 million profiles is available for a 4-digit amount in Bitcoin.

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PayPal allows cryptocurrency for payments

PayPal will start allowing its users in the USA to use cryptocurrencies to pay its online merchants across the globe. Those having bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will be able to convert them into currencies at checkouts to make the transaction. PayPal is working on the service since late last year, and in few months it will be available to its 29 mn merchants.

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Tesla vehicles can now be bought using bitcoin

Tesla’s Elon Musk tweeted “You can now buy a Tesla with bitcoin” and added that the bitcoin earned though sales will not be converted into traditional currency. The buying option will be available outside the USA later this year. Tesla, last month, had bought $1.5 bn of bitcoin and said that it would soon accept it as a form of payment for cars. Musk, last month, had criticised conventional cash, saying when it “has a negative real interest, only a fool wouldn’t look elsewhere.”

Chinese beauty app Meitu buys 15K units of Ether

Meitu, a beauty app that helps touch up user-profile pictures, has reportedly bought 15,000 units of Ether for $22.1 mn and 379.1 Bitcoins for $17.9 mn in the open market on March 5. No other company has invested this heavily in cryptocurrency in recent times. The company has used as much as $100 mn of cash to fund crypto purchases because it believes that crypto could diversify its portfolio.

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