Advertisements

Bitcoin Suddenly Dives Below $7,000 As Crypto Markets Lose Billions

Bitcoin and cryptocurrency markets were suddenly sold off today, with the bitcoin price losing around $200 per bitcoin in minutes and dipping under the psychological $7,000 mark once againcontinuing a period of relative volatility for digital tokens.

Bitcoin-rivals ethereum, Ripple’s XRP, bitcoin cash, litecoin, EOS and binance coin were also heavily sold off, wiping billions of dollars from the combined cryptocurrency market capitalization.

The cause of the sudden sell-off was not immediately clear, however, analysts have noted a drop in crypto market trading volume recently.

“All is quiet on the crypto front. Perhaps, a little too quiet,” Mati Greenspan, the founder of bitcoin and crypto research outlet Quantum Economics wrote in a note ahead of the bitcoin sell-off today, adding the dominance of the world’s biggest stablecoin, tether, “seems to be waning.”

Bitcoin was earlier trading at $6,880, down by 3.5% over the last 24-hour trading period, according to prices from U.S.-based crypto exchange Coinbase, with ethereum, Ripple’s XRP, litecoin, and bitcoin cash all off by between 5% and 8%.

EOS, a dectralized app token similar to ethereum, led the bitcoin and crypto market lower.

Earlier this year, bitcoin and cryptocurrency price watchers warned that “dismal” bitcoin volumes could mean the market was headed for a perfect storm.

In periods of low trading volume, crypto prices are more vulnerable to so-called whales moving the market by placing massive buy or sell orders at a little above or below current market rates. These can trigger trading algorithms that then send prices sharply higher or lower and can be a sign of market manipulation.

Meanwhile, research out earlier today suggested the bitcoin price might struggle over the short term due to the $2 billion PlusToken scandal—one of the biggest ever cryptocurrency scams.

“That’s certainly something to consider when you are thinking about where the price is going, at least in the short term,” Kim Grauer, senior economist at blockchain analysis company Chainalysis told financial newswire Bloomberg. “It could be, according to our research, continued downward pressure.”

PlusToken scammers are thought to have sold some 25,000 bitcoin, according to Chainalysis data, with a further 20,000 still to be dumped back onto the market.

Follow me on Twitter.

I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict.co.uk I reported on how technology is changing business, political trends, and the latest culture and lifestyle. I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself. I have worked and written for CityAM, the Financial Times, and the New Statesman, amongst others. Follow me on Twitter @billybambrough or email me on billyATbillybambrough.com. Disclosure: I occasionally hold some small amount of bitcoin and other cryptocurrencies.

Source: Bitcoin Suddenly Dives Below $7,000 As Crypto Markets Lose Billions

93.8K subscribers
#Bitcoin pumps to fill $7.8k futures gap, then immediately slides. Why #BTC might be “stuck” in the Chasm Phase, 43,564 $BTC whale move, $MATIC continues explosive run, market sentiment analyzed, crypto news, and more! 🔶 Join ByBit Exchange 👉 http://bybit.kdub.co *Get up to $90 FREE BONUS by using link above* 📺 ByBit Tutorial: https://youtu.be/W6-VCxNUD0g 🔥 Ledger Hardware Wallets 👉 http://ledger.kdub.co 📺 Ledger Nano X Tutorial: https://youtu.be/zShw2X5lRhs 💥 Unstoppable Domains 👉 http://unstoppabledomains.kdub.co 🔺Brave Browser ►► https://brave.com/cry542 🤖 3Commas Auto Trader 👉 http://3commas.kdub.co 👑 Krown’s Crypto Academy 👉 http://krown.kdub.co 🚀 LVL Exchange (NO trading fees) 👉 https://lvl.co/zombie 🧟‍♂️ “Crypto Zombies” Telegram ►► https://t.me/joinchat/E67b8w-hQrMsZeb… 📈 Trading View Charts ►► https://tradingview.go2cloud.org/SH3vw 💡 MINDS.com 👉 http://www.minds.kdub.co Intro Credit: https://www.reddit.com/r/cryptocurren… 2:28 Markets 〽️ 2:57 Bitcoin analysis: https://twitter.com/JacobCanfield/sta… 4:45 Bitcoin whale move: https://beincrypto.com/bitcoin-whale-… 7:41 BTC halving: https://twitter.com/100trillionUSD/st… 8:45 MATIC network: https://youtu.be/363xAkk1_wE 11:18 📺 BitBoy Crypto: https://youtu.be/-0XmfujTkVs 14:32 Bakkt lied: https://twitter.com/krugermacro/statu… 15:47 Bitcoin “Chasm” phase: https://medium.com/@ssaurel/bitcoins-… 21:01 MATIC battle racers: https://twitter.com/maticnetwork/stat… 🐦 @TheCryptoZombie ►► http://twitter.com/TheCryptoZombie 🔹Buy BTC on Coinbase ►►http://Coinbase.kdub.co Trade Cryptos on Huobi ►► http://Huobi.kdub.co Trade Cryptos on Bibox ►► http://Bibox.kdub.co Trade Cryptos on KuCoin ►► http://KuCoin.kdub.co Follow me on Twitter ►► http://twitter.com/TheCryptoZombie Join The Telegram ►► https://t.me/joinchat/E67b8w-hQrMsZeb… DISCLAIMER: I am not a financial advisor. This is not financial advice. This is just my opinion. Always do your own research before investing. I am not responsible for your trades… BITCOIN: The Last Time THIS Happened BTC PUMPED 4,500%! It’s About to Happen Again… https://youtu.be/w_Zg2lvxC8E Watch this video again because it’s awesome: https://youtu.be/tN0u7_VEyNA #cryptocurrency #altcoins #blockchain #cryptozombie #crypto #btc #bch #bsv #ethereum #eth #ripple #xrp $BTC $ETH $XRP

Advertisements

The U.S. Government Tried To Shut Down Bitcoin

Bitcoin conspiracy theorists have long suspected the U.S. government, among others, would like to shut down bitcoin.

Bitcoin’s first decade has seen its price explode, making early adopters overnight millionaires, and prompting some of the world’s biggest technology companies to create their own versions of bitcoin.

Now, it’s been revealed federal prosecutor-turned bitcoin and cryptocurrency expert Katie Haun was asked to look into “shutting down” bitcoin by her boss at the U.S. attorney’s office in 2012.

“They said ‘we have this perfect assignment for you’–there’s this thing called bitcoin and we need to investigate it,” Haun told CNBC in a wide-ranging interview, adding a colleague asked her to take down bitcoin.

“That was the first time I’d ever heard of bitcoin.”

Over the next few years Haun would go on to sit on the board of U.S. bitcoin and cryptocurrency exchange Coinbase and teach a class on cryptocurrency at Stanford Law School.

Today In: Money

Any serious attempt made by the U.S. Department of Justice to shut down bitcoin inevitably came to naught, with Haun saying, “it would have been akin to saying ‘let’s go prosecute cash.'”

Haun, who is now the first female general partner at U.S. venture capital firm Andreessen Horowitz and co-heads its $350 million cryptocurrency fund, has worked closely with social media giant Facebook in development of its troubled libra cryptocurrency project.

U.S. government opposition to bitcoin and cryptocurrencies has become far more transparent since Donald Trump entered the White House.

Earlier this year, U.S. president Trump sent shockwaves throughout the bitcoin and cryptocurrency industry when he tweeted a vicious attack on Facebook’s bitcoin rival plans, branding it and bitcoin “unregulated crypto assets.”

Others in the U.S. government were quick to tow the line, with U.S. Treasury secretary Steven Mnuchin adding his voice to the assault on bitcoin, Facebook’s planned Libra crypto project, and other cryptocurrencies, warning they pose a “national security” risk to the country.

Elsewhere, Apple chief executive Tim Cook has warned companies against creating their own cryptocurrencies.

“What we heard with libra were the same criticisms [I’d first heard about bitcoin]” Haun said.

“They were just heightened and they got more attention because of the high-profile nature of the project and the fact that Facebook was involved. I think it would be a really dangerous thing, and frankly a dangerous precedent to start shutting down technology before it’s built.”

Facebook’s libra has been under fire over the last week, with internet payments company PayPal, one of the Libra Association’s founding members, suddenly pulling out of the group on Friday.

Mark Zuckerberg, Facebook founder and chief executive, had hoped to work with global regulators to clear libra’s path to launch in June 2020 but appears to have underestimated the level of opposition to the scheme.

Follow me on Twitter.

I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict.co.uk I reported on how technology is changing business, political trends, and the latest culture and lifestyle. I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself. I have worked and written for CityAM, the Financial Times, and the New Statesman, amongst others. Follow me on Twitter @billybambrough or email me on billyATbillybambrough.com. Disclosure: I occasionally hold some small amount of bitcoin and other cryptocurrencies.

Source: The U.S. Government Tried To Shut Down Bitcoin

34.3K subscribers
Bitcoin miners shutting down world wide! Bitmain in trouble. And it looks like the problem is getting worse for all the big miners across the world. Makes me wonder is this is the real sign bottom is close. Thanks for watching Tip jar below. BTC 13qF5ovjByDtFyGX1hYLA7uvhXj1BDH2KX LTC LcdKQ9JSAZRuypVtevhbna7hVo8hHf5UoD Check out my Patreon if you want some gold nuggets. https://www.patreon.com/mrkristof Equipment used to make this video Samsung Galaxy Tab S4- https://amzn.to/2RpbT1E Smooth 4 cell phone gimbal- https://amzn.to/2SEokrE SanDisk 64GB memory card – https://amzn.to/2Da6B63 GoPro Hero 7 Black- https://amzn.to/2PPyerO Canon EOS M50- https://amzn.to/2qUAm3y Flexible tripod- https://amzn.to/2DYQdqf Lighting for studio- https://amzn.to/2TPveLl Gun gear that I use Serpa CQC OWB hoslter- https://amzn.to/2PLhORv Carbon Fiber OWB holster- https://amzn.to/2D6Rj2a Glock 17 sure plug- https://amzn.to/2JNmvoz Need stickers? I HIGHLY RECOMMEND THESE GUYS: http://stickeryeti.ositracker.com/111… Need something done for cheap? Check out Fiverr. http://www.fiverr.com/s2/1c08095a0e BUY A NANO LEDGER S HARDWARE WALLET www.ledgerwallet.com/r/49c8 RECOMMENDED CRYPTO EXCHANGES: If your looking to start buying alt coins Binance IS THE BEST altcoin exchange out there. Please join Binance using this link: www.binance.com/?ref=10263251 Kucoin exchange is the fastest up and comer and has coins exclusive to it you cant find anywhere else! www.kucoin.com/#/?r=28ucr CONNECT WITH ME: Add me on Telegram: @mr_kristof Add me on Snapchat: mr_kristof Find me on Instagram: mr_kristof Add me on Twitter: mr_kristof007 Add me on Xbox Live: VoxiKnight Find me on DTube: d.tube/#!/c/cryptokristof Read my blog on Steemit: steemit.com/@cryptokristof DISCLAIMER: THIS IS NOT FINANCIAL ADVICE AND I AM NOT A FINANCIAL ADVISER. AND THESE ARE SIMPLY MY OPINIONS #cryptocurrency #BTC #Bitcoin

Crypto Market Begins to Fall Rapidly Again: Bitcoin Below $3,500

Bitcoin fell below $3,500 as $5 billion was wiped out of the crypto market, and major digital assets like Ethereum recorded a six percent drop against the U.S. dollar. The 4.8 percent drop in the combined valuation of all cryptocurrencies in the global market comes after a strong sell-off on January 11………

Source: Crypto Market Begins to Fall Rapidly Again: Bitcoin Below $3,500

South Korean Authorities Arrest Nine For Using Crypto To Sell Narcotics

https://www.pivot.one/share/post/5c21eee6016de7272a20d157?uid=5bd49f297d5fe7538e6111b6&invite_code=JTOJYV

%d bloggers like this:
Skip to toolbar