Bitcoin is experiencing a period of remarkable price stability, despite significant developments within the crypto space in recent days.
With BTC hovering around $38,500 on Tuesday morning, it currently sits smack in the middle of the $33,000-$44,000 window it has been trading in since early January.
There have been some minor ups and downs in that time, fueled by major geopolitical events like Russia’s invasion of Ukraine, though a long-term trajectory has yet to emerge.
The wider cryptocurrency The market has largely mirrored bitcoin’s price movements, although some leading cryptocurrencies such as Ethereum (ETH), Cardano (ADA), and Solana (SOL) have seen slightly larger losses as investors turn to the more risk-averse bitcoin. .
Bitcoin’s emerging role as a store of value in times of geopolitical and economic uncertainty was boosted by the European Parliament’s decision on Monday not to ban crypto mining, as well as US President Joe Biden’s executive order last week encouraging mining. innovation and development in space. Elon Musk has also said that he will not sell his holdings.
You can follow the latest news, analysis and price predictions from experts on our live blog below.
PayPal CEO says cryptocurrencies will ‘redefine the financial world’
The head of one of the world’s largest payment processors has said that cryptocurrency “will redefine much of the financial world in the future.”
In a new interview with CTech, PayPal CEO Dan Schulman said, “I think the initial things that everyone thinks about cryptocurrencies, buying and selling them, and what the price of bitcoin will be tomorrow, that’s the least interesting part. of digital technology. coins for me That’s thinking of digital currencies as an asset class. For me, the really exciting thing about digital currencies is what kind of utility they can provide in payments.”
The comments come just a few months after PayPal launched the buying and selling of cryptocurrencies in the UK.
anthony cuthbertson15 March 2022 11:58
Bitcoin price ‘stuck’
Bitcoin’s muted price action can be attributed to continued economic uncertainty amid geopolitical crises, according to DailyFX strategist Nicholas Cawley.
He has been in touch to offer his thoughts on why the crypto market is currently in limbo.
anthony cuthbertson15 March 2022 10:31
Elon Musk HODLs and Europe votes against bitcoin ban
The bitcoin price remains relatively static on Tuesday morning, despite some positive news for the cryptocurrency yesterday.
Fears of a ban on proof-of-work cryptocurrencies like bitcoin and Ethereum proved unfounded as the European Parliament voted against a draft proposal, while Elon Musk offered some investment advice from his position as the world’s richest person. world: Do not sell your bitcoin, ETH or dogecoin.
anthony cuthbertson15 March 2022 09:19
Bitcoin, altcoin prices fall over the weekend
As the Russian invasion of Ukraine intensified over the weekend, bitcoin edged closer to the $38,000 mark, falling nearly 3 percent in the past 24 hours.
Ethereum has also lost value at a similar rate and is currently priced at around $2,500.
Other altcoins such as solana, polkadot and avalanche have also lost between 3 and 5 percent in value over the last day.
Memecoins dogecoin and its derivative shiba inu have also lost value by more than 3 percent during this period.
The overall crypto market is down around 3 percent in the last day and is valued at $1.70 trillion.
The chart is mostly red with no signs of recovery yet.
Vishwam Sankaran14 March 2022 02:33
After breaking above $41,000 on Thursday, Bitcoin has plunged more than 5 percent in the last 24 hours and is now priced below $39,000.
Other leading cryptocurrencies including ethereum, cardano, polkadot and avalanche have also lost value by almost 4 percent in the last day.
The dogecoin and shiba inu memecoins have also lost value between 2 and 4 percent in the last 24 hours.
The broader crypto market is down almost 5 percent in the last day and is valued at $1.74 trillion.
Most major cryptocurrencies are in the red with no signs of recovery yet.
Vishwam Sankaran11 March 2022 02:11
Bitcoin, altcoin prices rise
Bitcoin has topped $41,000, growing more than 4 percent in the past day with US President Joe Biden signing an executive order on crypto on Wednesday.
The new order acknowledges the popularity of cryptocurrencies and their potential to disrupt the traditional financial system.
“We must support technological advances that promote the development and responsible use of digital assets,” he says.
Meanwhile, India’s Finance Minister Nirmala Sitharaman also said that she expects the country’s central bank digital currency (CBDC) to be implemented this year.
Cryptocurrency prices surged on Wednesday with the broader crypto market rising nearly 3 percent in the past 24 hours, reaching a value of around $1.81 trillion.
Ethereum, cardano, and solana all grew over 2% in the last day, while terra rose over 7% over the period.
The chart looks mostly green with signs of recovery after almost five days of falling prices.
Vishwam Sankaran10 March 2022 02:17
Bitcoin and altcoins stabilize ahead of Biden’s crypto executive order
Bitcoin topped the $39,000 mark, growing more than 2 percent in the past day, with US President Joe Biden expected to sign an executive order outlining the government’s strategy for Bitcoin. cryptocurrencies.
The White House is also expected to order government agencies to study the legal and economic consequences of creating a US central bank digital currency following the signing of the order.
Amidst these moves expected from the US government this week, Ethereum has grown more than 3 percent in the last 24 hours, but is still down 10 percent compared to its value the week before. .
Prices of altcoins cardano and solana, as well as memecoins dogecoin and shiba inu are up less than 1 percent in the past day.
The overall crypto market has leveled off slightly, growing more than 2 percent in the past day and valued at around $1.76 trillion.
Vishwam Sankaran9 March 2022 02:29
Bitcoin, altcoins recover slightly
After trading near the $37,000 mark early Tuesday, Bitcoin is inching closer to the $39,000 mark, growing around 4 percent in the past few hours.
The leading cryptocurrency has increased its price by more than 2 percent in the last day, but is still down more than 10 percent compared to its value the previous week.
Ethereum has also marginally grown in value by about 1 percent over the past 24 hours, while other major cryptocurrencies including solana and avalanche have risen in value by 2-4 percent over this period.
Cardano, as well as the memecoins dogecoin and its spin-off shiba inu have grown less than one percent in the last day.
The overall crypto market has grown around 2 percent and is valued at $1.73 trillion.
Vishwam Sankaran8 March 2022 03:13
Swiss city embraces bitcoin
The Swiss city of Lugano plans to make Bitcoin, Tether and its own cryptocurrency legal tender, which will allow people to buy goods and services.
Paolo Ardoino, CTO of Tether, said: “We envision a future where businesses of all sizes and scales can leverage blockchain platforms to improve the quality of life for local citizens by providing more sustainable financial and everyday services. , transparent and reliable. day services.”
You can read the full story here.
anthony cuthbertson7 March 2022 18:18
Bitcoin Price Swings Explained
Simon Peters, an analyst at online trading platform eToro, has offered his take on what’s behind the “wild” move from $35,000 to $44,000 and now back to $38,000.
“Price changes, like those in stock markets, were driven by geopolitical machinations in Russia, as uncertainty continued to rule and investors reduced risk,” he says.
“That said, the swings we are seeing are largely due to uncertainty among investors around the world. Despite regional shifts in demand, crypto assets are ultimately global and reflect this in their price changes.”
anthony cuthbertson7 March 2022 11:10