Although cryptocurrencies have traditionally had rather volatile values, bitcoin’s has been near unprecedented over the past few months. It went from being worth $1,000 at the start of 2017, to $5,000 in November, to close to $20,000 just over a month later — prompting many to ask whether the cryptocurrency bubble is about to burst. It’s since fallen and has fluctuated between $12,000 and $16,000 in the weeks that followed, but today’s dip is the largest we’ve seen in some time. This morning, December 1, the prices on the highly volatile digital currency reached just under $19,860, breaking past its previous all-time high of $19,783 (set in December 2017) before falling in value again. The wider bitcoin and cryptocurrency market has recorded similar declines, with ethereum, Ripple’s XRP, bitcoin cash and litecoin all losing around 5% and wiping some $10 billion from the combined value of the world’s cryptocurrencies, CoinMarketCap data showed. Ethereum and other major cryptocurrencies BNB BNB , XRP XRP , solana and cardano have all crashed along with the bitcoin price.

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Gustav Söderström, Spotify’s head of research and development revealed that the company is working on making its discovery function just as effective for its podcasts, as it is for its music. “We’ve already seen around the edges some blowups in parts of the crypto world, and that could be foreshadowing some problems,” Gundlach said. “It looks like it’s being liquidated. I’m not bullish at that $20,000 or $21,000 on bitcoin. I wouldn’t be surprised at all if it went to $10,000.” “They should also make sure any firm they are dealing with is regulated, or at least has temporary permissions from the regulator.” He is also warning that Bitcoin’s upcoming halving event in April may not be a catalyst for a rally if there are unfavorable macroeconomic conditions. In comments shared with The Independent, Mr Peters, who works for the online trading platform eToro, said that such signs would probably lead to some short-term losses.

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• The latest price crash comes after one market analyst predicted bitcoin’s “new normal bottom” was now at $10,000, having survived several mini dips that failed to take its price below this milestone.
• Notably, Bitcoin is currently trading at roughly half of its all-time-high price of about $19,700, which it reached in December 2017.
• “They should also make sure any firm they are dealing with is regulated, or at least has temporary permissions from the regulator.”
• Strategy founder Michael Saylor has gathered $42 billion worth of bitcoin, riding the bitcoin price …

The world’s first and most widely held cryptocurrency dropped 50% over the past two days. Bitcoin — sometimes referred to as “digital gold” — fell more than 30% Friday to its weakest level since March 2019, according to data from CoinDesk. The bitcoin bitcoin price crash wipes $10,000 from its value price has dropped below $20,000 per bitcoin for the first time since late 2020 and … More breaking a closely-watched psychological barrier as ethereum, BNB, XRP, solana and cardano crash. The cryptocurrency’s notorious price volatility has seen its value fluctuate between $9,000 and $13,000 in recent months, though it was experiencing a relative period of stability before the most recent fall.

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The latest price crash comes after one market analyst predicted bitcoin’s “new normal bottom” was now at $10,000, having survived several mini dips that failed to take its price below this milestone. The world second largest digital currency, ethereum, fell 46% this week while XRP lost nearly 40% of its value. Meanwhile, the ethereum price has dipped under the closely-watched $1,000 per ether level, down 10% over the last 24 hours, while BNB, XRP, solana and cardano have all lost a similar amount. The combined crypto market has lost around $400 billion over the course of this month, plunging the combined market capitalization below $1 trillion, down from $3 trillion in November last year. The bitcoin price has been on a downward trend all this year, dragging down the wider crypto market … Ahead of the latest crypto crash, billionaire investor Jeff Gundlach warned he wouldn’t be surprised to see the bitcoin price fall further to hit $10,000—calling the trend in crypto “clearly not positive.”

Bitcoin price crash wipes $10,000 from its value

Ethereum is trading for $2,213 at time of writing, up nearly 1% in the last 24 hours. Looking at his monthly chart, the trader suggests that Bitcoin could collapse down to the diagonal support level that Bitcoin touched during the pandemic after facing resistance at the Fibonacci retracement level of 0.768. Bennett tells his 110,700 followers on the social media platform X that the crypto king could decline by more than 74% from its current value if a black swan event triggers a severe correction. Upgrade your lifestyleDigital Trends helps readers keep tabs on the fast-paced world of tech with all the latest news, fun product reviews, insightful editorials, and one-of-a-kind sneak peeks. Prominent leaders hosted Spaces and Live videos to discuss the development that placed crypto on a pedestal it never had since being introduced to the world in 2008 through Satoshi Nakamoto’s white paper. Strategy founder Michael Saylor has gathered $42 billion worth of bitcoin, riding the bitcoin price …

“Bitcoin volatility nearing the three month lows,” Edward Morra said via Twitter, adding “we are back to March 7 pre-crash levels” and he’s expecting “big moves this upcoming week.” In terms of percentage losses, bitcoin has seen worse crashes – most notably in the days following the great crypto bull run of 2017, when its price fell from close to $20,000 to below $10,000. All of the above can be interpreted as positive news for the price of Bitcoin, which has a predictable inflation rate with fixed supply, and is outside of any one government’s control.

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“You can see how the rapid price appreciation of Bitcoin, combined with aggressive marketing and low interest rates on cash, creates a perfect storm for consumers looking to get a decent return on their money. According to the strategist, there still exists the possibility that Bitcoin repeats a similar price pattern in 2020 when the crypto king plummeted at the start of the COVID-19 pandemic. More than $10,000 (£7,120) was wiped from the cryptocurrency’s value in the space of just a few hours on Monday, taking its value below $50,000. Strategy’s stock price has almost halved since soaring to its November peak that saw it inducted into the prestigious Nasdaq 100 index. Strategy, which currently owns almost 530,000 bitcoin worth nearly $42 billion that were bought for an average of $67,000 per bitcoin, has fuelled its bitcoin buys by selling convertible bonds and issuing stock.

The digital music library has ramped up its catalogue since 2019, buying Gimlet, Parcast, Anchor, Ringer and Megaphone – costing the company more than $400m. “Turns out that we can even predict what kinds of podcasts listeners might enjoy based on their taste in music,” he said during the company’s annual investor conference. But on Monday, Bitcoin dramatically dropped to $47,400 before eventually recovering to $54,385. In a statement, the FCA said crypto investments generally involve very high risks – and some investment companies may understate these dangers while exaggerating potential returns.

• Ethereum and other major cryptocurrencies BNB BNB , XRP XRP , solana and cardano have all crashed along with the bitcoin price.
• The flash crash resulted in around $10 billion being wiped from the cryptocurrency’s overall value and has called into question recent positive price predictions.
• Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.
• Ethereum is trading for $2,213 at time of writing, up nearly 1% in the last 24 hours.

Bitcoin’s value crashes and it’s taking other currencies with it

The bitcoin price has failed to move convincingly above $10,000 per bitcoin so far this year. Bitcoin fell to lows of $8,900 on the Luxembourg-based Bitstamp exchange before rebounding slightly. Government intervention will also probably be welcomed by consumers burned by the collapse of so-called stablecoin TerraUSD and troubled middlemen like Celsius Network and broker Voyager Digital Ltd. Over the weekend, the Telegraph reported that Oliver Dowden was attempting to speak to Facebook about the Australian move, having been alarmed at the move by the company to block news in the country. MYbank’s service will be introduced to the digital yuan app which is run by the People’s Bank of China, according to a company spokesperson. China has enlisted the Ant-backed company MYbank to join the country’s expanding digital yuan trial.