Bitcoin’s price continues to fall, adding further losses to the market after a mini-flash crash last week.
The same thing happened across the crypto market, with many others – including Ethereum (Ether), Cardano (Ada), and Dogecoin, which are still giving way.
Bitcoin is down 3.6 percent in the past 24 hours and has now lost more than 8 percent in the past week.
The overall market fell nearly 5 percent over the course of the day, according to the tracking website CoinMarketCap.
This is despite a multitude of rumors that should drive up the price of cryptocurrencies. One claimed Apple was on the verge of announcing a large investment in Bitcoin, although there is currently nothing to back it up.
Recent moves have failed to rip Bitcoin out of its recent stasis as the world’s leading cryptocurrency moves less than 1 percent from week to week. It hasn’t jumped above $ 36,000 or below $ 32,000 since late June, though some analysts are hoping a big step is on the way.
According to an indicator, Bitcoin is about to trigger an important buy signal, similar to the one in October 2020.
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Spike Lee directs a cryptocurrency film and declares, “The digital rebellion is here”
Big cultural news as Spike Lee announces his new project: a film called “The Currency of Currency,” aimed at promoting digital coins. It was paid for by Coin Cloud, which produces ATMs – but for cryptocurrencies.
The film also features Poses Mj Rodriguez, RuPaul’s drag race contestant Shangela, and others who are all trying to promote cryptocurrency as it is more inclusive.
Andrew GriffinJuly 15, 2021 8:36 AM
Market all red
It’s another negative day in the crypto markets. All large coins, with the exception of stablecoins, are in the red – and many are even substantial.
Here’s the latest from CoinMarketCap:
Andrew GriffinJuly 14, 2021 11:38 am
Dormant Bitcoin wallet from the Satoshi era is suddenly activated after almost a decade
A dormant Bitcoin address with cryptocurrency valued at more than $ 26 million has come to life after nearly a decade of inactivity.
The wallet was created shortly after the pseudonymous creator of Bitcoin, Satoshi Nakamoto, disappeared in 2012.
Movements of money from the Bitcoin address were detected by the crypto-tracking Twitter bot Whale Alert. 640 of the 791 bitcoins in the wallet were moved to an unknown address, according to blockchain records.
Anthony CuthbertsonJuly 13, 2021 7:10 pm
USA reports the strongest rise in inflation since 2008
In its June 2021 consumer price index released today, the US Department of Labor reported the strongest 12-month inflation surge since 2008.
Consumer prices rose 5.4 percent last year as the economy struggles to recover from the pandemic.
This means that the dollar’s purchasing power is much lower than it was at that time last year, which is driving up prices for everyday goods and services such as cars, furniture and restaurants. Despite the recent drop in prices, Bitcoin’s value against the dollar has tripled over the same period.
Bitcoin advocates took the opportunity to also highlight the non-inflationary nature of Bitcoin, which has a built-in stash of 21 million coins that makes it immune to economic measures like quantitative easing. Among the most prominent proponents of the cryptocurrency were the Winklevoss twins, who described Bitcoin as “the world’s best protection against inflation”.
Anthony CuthbertsonJuly 13, 2021 6:06 PM
Ethereum price drops below $ 2,000
The price of Ethereum (Ether) has fallen below $ 2,000 for the first time since late June.
According to CoinMarketCap, the world’s second most valuable cryptocurrency has fallen more than 6 percent in the past 24 hours and more than 15 percent from week to week.
Of the top 10 leading cryptocurrencies, only Uniswap has seen a major drop in price over the same period. Not a single one saw any gains.
You can read the full story from Andrew Griffin, tech editor for The Independent, here.
Anthony CuthbertsonJuly 13, 2021 2:10 p.m.
Bank of England reports “growing interest” in crypto from institutional investors
The Bank of England has highlighted the growing trend of increasing institutional investments in Bitcoin and other cryptocurrencies, suggesting there could be more big strides in the space in 2021.
The financial stability report released today found that the price of Bitcoin increased six-fold in the 12 months leading up to April 2021, prompting institutional investors to take notice.
“Market information suggests that crypto assets are largely held by retail investors, with institutional investors currently having limited exposure,” the report said.
“However, there are some signs of growing interest in crypto assets and related services from institutional investors, banks and major payment system operators. These developments could strengthen the links between crypto assets and other systemic financial markets and institutions. “
Anthony CuthbertsonJuly 13, 2021 1:17 p.m.
Bitcoin price analyst predicts bullish breakout
A new research note from an analyst who predicted the recent crash in Bitcoin price has given an optimistic view of the current direction of the market.
Katie Stockton, founder of independent research firm Fairlead Strategies, wrote that Bitcoin is likely to fall above rather than below the narrow $ 32,000 to $ 36,000 band it has been trading in in recent weeks.
“The consolidation phase itself is neutral, but we believe a breakout is more likely than a collapse,” she wrote. “The medium-term dynamic has improved based on the MACD histogram (Moving Average Convergence Divergence).”
Anthony CuthbertsonJuly 13, 2021 11:29 AM
Elon Musk says his baby is a Dogecoin toddler hoddler
Elon Musk tweeted again about Dogecoin.
The Tesla CEO joked that if they spotted a Shiba Inu dog with its built-in cameras, the electric cars could dump Dogecoin.
“Maybe, if [Tesla Vision] sees a Shiba Inu, the car renders a Dogecoin, ”he wrote.
Anthony CuthbertsonJuly 13, 2021 10:17 am
BREAKING: Record crypto haul for the British police
British police have seized £ 294 million ($ 408 million) in cryptocurrencies as part of a money laundering investigation.
The loot, which the Met Police claims is record-breaking in size, consisted of unspecified crypto. Details of the seizure are not yet known.
Metropolitan Police Deputy Assistant Commissioner Graham McNulty said, “While cash is still king in the criminal world, as digital platforms evolve, we are seeing increasingly organized criminals using cryptocurrency to launder their dirty money.”
We’ll have more of this story as it develops.
Anthony CuthbertsonJuly 13, 2021 9:54 am
Rumors that Apple bought Bitcoin
Rumors are currently spreading on the internet that Apple has invested heavily in Bitcoin.
Forums and social media are rife with claims that the tech giant will announce a $ 2 billion cryptocurrency purchase today, though these are just rumors for now.
It would make sense for Apple to invest its huge cash reserves in Bitcoin, just as Tesla did, but it would still be a risky move. With nearly $ 200 billion in cash in the latest quarterly report, $ 2 billion would be just 1 percent of the iPhone maker’s inventory. If that’s true, you could imagine that the price of Bitcoin would see a similar surge when Elon Musk announced Tesla’s crypto investment.
We asked Apple for a comment.
Anthony CuthbertsonJuly 13, 2021 8:54 am