Bitcoin

2024 - 8 - 5

When Cryptos Fall: Bitcoin's Rollercoaster Ride to the Bottom! 🎢💔

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Bitcoin and Ether take a nosedive as recession fears reign supreme. What does this mean for your investments? Find out!

In a dramatic turn of events, cryptocurrency enthusiasts are gripping their wallets tighter as Bitcoin and Ether have plunged to multi-month lows. Following a frightening trail of recession fears and a decline in stock markets, Bitcoin recently took a nosedive below $50,000 for the first time since February. The cryptocurrency world, which was once vibrant with investment opportunities, experienced a sell-off like never before, causing many miners to lose more than 10% of their share value almost overnight. It turns out, when the U.S. sneezes, the crypto world catches a cold!

The overall global crypto market faced a seismic shift as market cap dwindled significantly—by around 12.29% in just 24 hours. With the backdrop of geopolitical concerns and disappointing economic data, investors are retreating from riskier assets and re-evaluating their portfolios. Crypto exchange Coinbase also felt the heat, dropping 9% as panic ensued, driving many to liquidity in a frenzy akin to Black Friday shopping at your favorite supermarket. It's wild how digital currency can lead to a physical phenomenon: everyone racing to the cash register, but this time, it's liquidity!

As Bitcoin slumps and Ether suffers from the worst drop since 2021, investors are asking themselves—are these investments worth it? Graphs reflecting Bitcoin's dramatic decline show a fall of over 14% within just one day alone. Furthermore, hundreds of billions have been wiped out from the cryptocurrency market as popular players like Ethereum, Solana, and Cardano joined Bitcoin in this merciless tumble. It’s like watching your favorite sports team lose the championship by a point during the last second of the game!

In the grand scheme of things, this sharp fall serves as a stark reminder that the crypto market is truly volatile. As of now, Bitcoin remains a dominant force within the realm, but the future is quite hazy. Did you know that Bitcoin was once worth less than a dollar in 2011? Now that's a case of how fast things can change! Experts suggest keeping an eagle eye on economic trends—both locally and globally—as they significantly impact critical investments like cryptocurrency. Remember, in the world of trading, it’s all about timing, and right now, it’s time to hold your breath through this crypto rollercoaster ride!

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Image courtesy of "Coindesk"

Crypto Stocks Slump as Bitcoin, Ether Tumble (Coindesk)

Crypto-related company shares followed suit, with many miners losing more than 10% in pre-market trading while crypto exchange Coinbase dropped 9%.

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Image courtesy of "Fortune"

Bitcoin price plunges and ether has worst drop since 2021 (Fortune)

Bitcoin price plunges and ether has worst drop since 2021 ... Bitcoin price chart showing a decline in the price of BTC on August 5, 2024. Bitcoin dipped briefly ...

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Image courtesy of "The National"

Why Bitcoin and Ether are in retreat (The National)

Investors shun risk assets as markets fear a US recession on the horizon and rising geopolitical worries.

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Image courtesy of "Daily Sabah"

Bitcoin slumps to 6-month low as global stocks plunge (Daily Sabah)

Bitcoin continued to lose considerable ground and other cryptocurrencies crashed on Monday amid a generally gloomy mood on the financial markets and major.

Bitcoin price in free fall as crypto market crashes (The Independent)

Hundreds of billions wiped from cryptocurrency market as Ethereum, Solana and Cardano all suffer.

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Image courtesy of "Economic Times"

Bitcoin plunges to multi-month lows, wiping out over $220 billion in ... (Economic Times)

Bitcoin (BTC) plunged to multi-month lows on Monday, falling over 14% in 24 hours amid US recession fears and disappointing economic data.

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Image courtesy of "CNBC"

Bitcoin drops below $50000 for the first time since February (CNBC)

Cryptocurrencies tumbled amid a global market sell-off spurred by recession fears. The price of bitcoin sank more than 13% on Monday to $50,963.57, ...

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Image courtesy of "Reuters"

Bitcoin, ether hit multi-month lows as recession worries take hold (Reuters)

Bitcoin and ether plunged on Monday to multi-month lows as worries over a possible U.S. recession in the wake of soft data gripped financial markets and ...

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Image courtesy of "Business Today"

Global crypto market sees massive drop in market cap, as bitcoin ... (Business Today)

The global crypto market experienced a significant downturn, with a 12.29% decrease in market cap in just one day. Despite this, Bitcoin remains a dominant ...

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Image courtesy of "Forbes"

$500 Billion 'Panic Rush For Liquidity'—Price Of Bitcoin, Ethereump ... (Forbes)

As stock markets dipped on August 2 due to recession fears, crypto went into a downright freefall. Since Friday's downturn, the crypto market has experienced ...

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Image courtesy of "Deccan Herald"

Bitcoin plunges, Ether has worst drop since 2021 as crypto sinks (Deccan Herald)

By Suvashree Ghosh and Ryan Weeks. ADVERTISEMENT. Cryptocurrencies reeled from a bout of risk aversion in global markets on Monday, at one point sending ...

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Image courtesy of "Forbes"

A Fan-Owned Soccer Team In Hawaii Is Looking To Surf A Bitcoin ... (Forbes)

Could digital currency and blockchain technology become useful tools for fan ownership in soccer? Hawaiian club Makani FC is banking on it.

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Image courtesy of "Forbes"

Bitcoin Plummets Amid Wider Market Selloff (Forbes)

Cryptocurrencies bitcoin and ethereum took a tumble on Monday, dropping to near-six-month lows and ending months of gains as investors once again turn away ...

Bitcoin and Other Cryptocurrencies Plunge, Mirroring Global Markets (The New York Times)

The precipitous falls show that digital currencies remain vulnerable to the same broader economic forces that affect technology stocks and risky ...

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Image courtesy of "Quartz"

Bitcoin plunges from $70000 to $50000 in just a week. Here's what ... (Quartz)

Ether dropped 22% in a single day, as spot Ether ETFs are witnessing substantial outflows.

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Image courtesy of "Slate Magazine"

Bitcoin Became Something Its Biggest Boosters Never Imagined (Slate Magazine)

What happened to the currency of tomorrow? By Alex Kirshner. Aug 05, 20244:21 PM.

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Image courtesy of "Yahoo Finance"

Bitcoin is having its worst week since the fall of FTX (Yahoo Finance)

Bitcoin is having its worst week since the 2022 collapse of Sam Bankman Fried's FTX cryptocurrency exchange amid a larger correction across all markets.

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Image courtesy of "Reuters"

Cryptoverse: Trump's bitcoin stockpile plan stirs debate (Reuters)

"Never sell your bitcoin," Donald Trump told a cheering crowd at a crypto convention in Nashville, Tennessee in late July.

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Image courtesy of "Business Today"

Bitcoin rebounds to $56000 amidst market volatility, indicates ... (Business Today)

Bitcoin has recovered to $56000, showing signs of market resilience and investor confidence after a significant drop. Experts suggest that this rebound ...

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Image courtesy of "Coindesk"

Bitcoin's Unreliable Death Cross Is Looming Again (Coindesk)

BTC's near-term prospects are closely tied to the health of the U.S. economy and volatility in the Japanese yen.

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Image courtesy of "Forbes"

'Don't Be Fooled'—Coinbase Issues Serious Warning After $800 ... (Forbes)

The latest bitcoin price crash has sparked fears the crypto market could be headed for further losses...

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Image courtesy of "Forbes"

Crypto Comeback? Bitcoin, Ether And Other Assets Climb After US ... (Forbes)

Crypto Comeback? Bitcoin, Ether And Other Assets Climb After US Recession Fears Spark Heavy Losses. ... Robert Hart is a London-based Forbes senior reporter.

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Image courtesy of "Economic Times"

Bitcoin, Ether surge over 9% as global markets bounce from brutal ... (Economic Times)

US economic data released on Monday suggested that a recession isn't imminent. The July ISM Services PMI exceeded economists' expectations, registering at ...

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Image courtesy of "FXStreet"

Bitcoin's bear rally? (FXStreet)

As a result, the crypto market capitalisation is up 11.3% in 24 hours to $1.98 trillion. That's still -17% in seven days. Bitcoin was trading at nearly $55.7K ...

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Image courtesy of "CNBC"

Bitcoin miner Core Scientific rides AI from bankruptcy to $6.7 billion ... (CNBC)

Many bitcoin mining firms have been retrofitting existing facilities to serve AI clients as revenue from crypto mining plummets. Bitcoin miners are shifting to ...

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