Bitcoin price – live: Crypto market sees remarkable recovery after massive crash takes it to 2021 low

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Bitcoin bounced back on Wednesday after a series of price crashes over the past few days that pushed the cryptocurrency to its 2021 low.

After briefly falling below $ 29,000 on Tuesday, Bitcoin is now back above $ 34,000 and appears to be trending upward.

Ethereum (Ether), Cardano (ada), Dogecoin, and other leading cryptocurrencies have mirrored this move, adding $ 200 billion to the market overnight.

The rebound means crypto analysts remain split on whether the losses are part of a wider bear market or just a price correction in the middle of a bull run that will push Bitcoin to new record highs later this year.

Big investors seem convinced the latter is true, with MicroStrategy investing another half a billion dollars in Bitcoin earlier this week. Dogecoin founder also announced that he has invested in cryptocurrency for the first time in eight years.

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Bitcoin-owning Senator “buys the dip”

US Senator Cynthia Lummis says she is “really excited” about the recent Bitcoin crash because it would allow her to buy more of the cryptocurrency at a cheaper price.

Speaking to Fox Business News when Bitcoin was below $ 30,000 yesterday, Republican lawmakers beat back comments from moderator Stuart Varney about Bitcoin’s “decline”.

She said, “I’m really excited because as soon as it drops a little more, I’ll buy more.”

She also said she hoped that any regulation introduced in the US will be “simple”, “easy to understand” and “not too restrictive”.

(Fuchs business news)

Anthony CuthbertsonJune 23, 2021 10:08 am

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Bitcoin price back in the green

Bitcoin has rebounded well over $ 30,000 to the point that it is trading higher now than it was at the time yesterday.

It’s a remarkable rebound of more than 10 percent in the last few hours after a devastating crash that took Bitcoin to lows not seen in 2021.

Major moves in either direction are often followed by significant corrections in the crypto market, so this is not so uncommon. However, after breaking the $ 30,000 resistance level, traders are likely to be looking down rather than up for now.

(CoinMarketCap)

Anthony CuthbertsonJune 22, 2021 8:59 PM

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Dogecoin founder is buying crypto for the first time since 2013

Dogecoin founder Billy Markus says he bought part of the meme-inspired cryptocurrency for the first time since joining eight years ago.

The announcement comes after a massive drop in the price of Dogecoin that resulted in it losing more than a third of its value in the past week.

Markus sold or spent his original holdings soon after the cryptocurrency was created with his software developer Jackson Palmer in 2013. He didn’t reveal how much he bought, but said he had followed the pattern of many recent times since acquiring his new supply as a crypto investor by relentlessly checking the price.

You can read the whole story here.

Anthony CuthbertsonJune 22, 2021 5:51 p.m.

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Bitcoin will erase all of its price gains in 2021

Bitcoin has fallen even further in the past few minutes, reaching below $ 29,000.

The cryptocurrency hit $ 28,893, which means that it has officially wiped out any gains made in 2021.

It’s still way up from that time last year when it traded below $ 10,000. It’s only $ 8,000 higher than its 2017 price high, however. At this rate, it won’t be long before we find out if it threatens those levels.

We’ll have some expert feedback shortly, but here’s a graph showing Bitcoin’s wild year so far.

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Anthony CuthbertsonJune 22, 2021 3:30 p.m.

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BREAKING: Bitcoin price plunges below $ 30,000

Bitcoin fell below $ 30,000 for the first time since January, adding to the already astounding losses since hitting an all-time high in April.

The cryptocurrency has fallen 54 percent since its record high. Other leading cryptocurrencies were dragged down with it, including Ethereum (Ether), Cardano (ada) and Dogecoin.

In total, more than half a trillion dollars have been wiped from the market in the past week.

Read the development history here:

Anthony CuthbertsonJune 22, 2021 2:14 p.m.

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Elon Musk praises “important improvement” for Dogecoin

Elon Musk is tweeting about cryptocurrency again, although for once it doesn’t seem to have moved the markets as it usually does.

The Tesla CEO responded to a tweet from Ross Nicoll, one of the core developers of Dogecoin, about the new fee-cutting code for the meme-based cryptocurrency.

“That’s an important improvement,” said Musk.

Dogecoin price has yet to respond to approval and is actually trading a little lower than it was before his tweet. It is currently around $ 0.18 – more than $ 0.50 since its all-time high in May.

Anthony CuthbertsonJune 22, 2021 1:00 p.m.

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Bitcoin price optimism is waning

An online poll asking for bitcoin price predictions from Twitter users produced significantly different results than the same poll published just three months ago.

Already in March, the pseudonymous Bitcoin analyst PlanB asked its half a million Twitter followers what price they think Bitcoin would reach in 2021: USD 500,000 +, USD 28,000 +, USD 100,000+ or ​​below USD 100,000.

Only 16 percent said they thought it would stay below $ 100,000 – at the time, Bitcoin was worth more than $ 50,000 and was trending upward.

The same poll yesterday found that 41 percent now believe it would stay below $ 100,000 this year. Bitcoin is currently worth less than $ 32,000 and is trending down.

The majority of respondents (59 percent) still believe that Bitcoin will surpass $ 100,000 in 2021. It will be interesting to see what the same survey shows in another three months.

Anthony CuthbertsonJune 22, 2021 12:37 PM

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China tightens measures against cryptocurrencies

The People’s Bank of China (PBOC) has asked banks to block cryptocurrency-related services.

The arrangement prevents banks from offering products such as trading, clearing and settlement for crypto transactions. The Agricultural Bank of China and the Postal Savings Bank have already approved the PBOC’s order from Monday.

It comes after a crackdown on the bitcoin mining operation in Sichuan province, which has been blamed for the recent market-wide price crash.

You can read the whole story here.

Anthony CuthbertsonJune 22, 2021 10:46 am

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Bitcoin price crash stalled

Bitcoin and the broader crypto market are relatively calm on Tuesday morning with no major movements from any of the leading cryptocurrencies overnight.

The deadline provides an opportunity to take stock of losses over the past seven days.

Of the top 10 cryptocurrencies by market capitalization, the Dogecoin was hit hardest, losing more than a third of its value in just one week. Ethereum (Ether), Cardano (ada) and Binance Coin fell by around a quarter over the same period.

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Bitcoin’s losses appear relatively tame by comparison, and are the only ones to drop less than 20 percent from week to week.

Whether this is just a break or a turning point will be decided in the coming hours and days.

Anthony CuthbertsonJune 22, 2021 9:03 AM

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Bitcoin price “death cross” an omen for the bear market?

Bitcoin went through a so-called “death cross” today, which means that such a price pattern appeared for the first time in 2021.

Such events can prove catastrophic for traditional markets (both during the Wall Street Crash of 1929 and the 2008 Financial Crisis), but cryptocurrencies can be more difficult to pinpoint.

It is actually the seventh Death Cross for Bitcoin since 2013, with the last two actually leading to massive profits. To find out what this milestone means, you can read the full story here:

Anthony CuthbertsonJune 21, 2021 6:42 PM