Thursday, July 29

bitcoin price

Amazon, Bitcoin, bitcoin as payment, bitcoin price, Cathie Wood, crypto, Crypto assets, Cryptocurrencies, Elon Musk, Jack Dorsey, Markets, MI Exclusive, Tech Insider, The B Word

Bitcoin surges 15% to top $38,000, boosted by comments from influential investors and chatter about Amazon getting into crypto

OZAN ​​KOSE/AFP via Getty Images Bitcoin leapt 15% on Monday to rise above $38,000 for the first time in about six weeks, after remarks from influential commentators and a report that Amazon is considering accepting payments in the cryptocurrency helped restore bullish investor sentiment.The coin was trading at around $38,750 as of 3:15 am ET, representing a 33% gain so far this year. It had earlier hit a 24-hour high of about $39,544, its highest level since mid-June.After being stuck in a descending slope for three months, bitcoin broke out at the top end of recent levels following positive comments from leading CEOs Elon Musk, Jack Dorsey, and Cathie Wood at "The B Word" event last week. Tesla CEO Musk said the electric-vehicle maker would be open to accepting bitcoin as payme...
Bitcoin, Bitcoin ETF, Bitcoin ETF delay, bitcoin price, crypto, Crypto assets, Cryptocurrencies, Markets, MI Exclusive, SEC, SEC bitcoin

A bitcoin ETF may not be approved by the SEC until 2023 despite surging interest, according to a fund provider that’s already been through the process

Former Commodity Futures Trading Commission Chairman Gary Gensler testifying before the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill on July 30, 2013. Photo by Chip Somodevilla/Getty Images The wait for an SEC approved bitcoin ETF might be longer than most think, according to one fund provider that's been through the approval process.William Cai of Wilshire Phoenix doesn't expect the SEC to approve a bitcoin ETF until 2022 or 2023. "A bitcoin ETF is not on his top priority list as far as we can see," Cai said, referring to SEC chief Gary Gensler.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Anticipation for a SEC-approved bitcoin ETF is high, but investors shouldn't hold their breath as it may still be years away from becoming re...
Bitcoin, bitcoin price, bitcoin price outlook, crypto, Crypto assets, Cryptocurrencies, Finance, Markets, MI Exclusive, Trading

Here is what it’ll take to pull bitcoin out of its bear market, according to JPMorgan

Nurphoto / Getty Images The bear market in bitcoin is ongoing as momentum traders unwind their positions, JPMorgan said in a note on Wednesday. The bank is looking for signs of new institutional adoption to help lift bitcoin from its rut."We believe that the share of bitcoin in the total crypto market would have to normalize further and perhaps rise above 50%" to end the current bear market, JPMorgan said.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.The ongoing bear market in bitcoin is showing no signs of ending anytime soon, JPMorgan said in a note on Wednesday.The bank is looking for indications that the worse in bitcoin's price decline may be behind us, but in order to argue that the bear market is over, JPMorgan wants to see bitcoin's valuation sh...
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More than half of experts in a recent crypto survey said bitcoin will replace fiat currency by 2050

A local business in El Salvador that accepts bitcoin payments. Alex Pena/Anadolu Agency via Getty Images 54% of fintech experts surveyed expect bitcoin to overtake currencies issued by central banks in global finance by 2050. The move could also take place by 2035, according to 29% of respondents. The majority of the panel see bitcoin as currently undervalued, and the price rising this year to $66,284. See more stories on Insider's business page. Bitcoin, the world's most traded cryptocurrency, will surpass money issued by central banks as the dominant form of finance worldwide in less than 30 years, according to a panel of fintech specialists. 54% of 42 crypto experts surveyed foresee so-called hyperbitcoinization-or the moment that bitcoin overtakes global finance - occurrin...
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Bitcoin nears risk-on mode after successfully testing $30,000 as support, a technical analyst says

Bitcoin 2021 Photo by Joe Raedle/Getty Images Bitcoin is on the verge of entering risk-on mode after repeatedly testing $30,000 support level, Fairlead Strategies said.Bitcoin is now approaching its 50-day moving average near $38,200 after it reclaimed its 20-day moving average."We would view a breakout above the 50-day MA as a positive catalyst supporting a test of secondary resistance near $44,000," Fairlead's Katie Stockton said.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Bitcoin is nearing risk-on mode after it repeatedly tested the $30,000 level as support, Fairlead Strategies co-founder Katie Stockton said in a note on Monday."Risk-on is likely to come back to the cryptocurrency space if the relief rally persists, as expected," Stockton said.Bit...
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US futures rise ahead of jobless claims and Fed speeches, while oil extends rally as outlook brightens

US stock index futures climbed on Thursday as investors awaited the release of weekly jobless claims data and prepared to digest a series of speeches from Federal Reserve officials.Meanwhile, oil prices extended their rally as the outlook for the global economy brightened, with vaccine rollouts spurring expectations of strong demand for energy in the coming months. Oil is on course for a third straight monthly gain in June. In Europe, stocks rose ahead of the Bank of England's interest rate decision. It is expected to leave monetary policy on hold but investors will scrutinize the decision for signs of concerns about inflation, which jumped abo...
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MicroStrategy just bought another $489 million in bitcoin to add to its vast trove of the cryptocurrency

MicroStrategy said Monday it spent roughly $489 million to purchase approximately 13,005 bitcoins for an average price of about $37,617 per coin. Bitcoin has fallen sharply in recent days and dropped 8% on Monday to $32,590.Bitcoin bull Michael Saylor's company now holds an aggregate of approximately 105,085 bitcoins, which were acquired at an aggregate purchase price of approximately $2.741 billion and an average purchase price of approximately $26,080 per bitcoin.The last time MicroStrategy announced a large bitcoin purchase was in February, when the company purchased approximately 19,452 bitcoins for about $1.026 billion in cash at an average price of $52,765 per bitcoin, inclusive of fees and expenses.The recent dips in b...
Binance coin, Bitcoin, Bitcoin Mining, bitcoin price, btc, BTC price, China bitcoin mining, China Crackdown, China cryptocurrency, eth, Ether, Markets, MI Exclusive

Bitcoin tumbles 8% after China steps up crackdown on crypto mining, shutting down 26 key sites in Sichuan

China is increasingly cracking down on bitcoin. Florence Lo/Illustration/Reuters Bitcoin dropped 8% on Monday after Chinese authorities ramped up their crackdown on cryptocurrency "mining" over the weekend, with bodies in the Sichuan province ordering 26 of the biggest miners to halt operations.The world's biggest cryptocurrency fell to $32,950 as of 6.20 am ET. Bitcoin was down around 49% from April's record high of close to $65,000, but was still roughly 12% higher for the year.Other cryptocurrencies also dropped sharply, with ether down around 6% and binance coin roughly 4% lower, according to Coinmarketcap. A broader market sell-off also appeared to be weighing on crypto, as investors moved towards safer assets.The latest move by Chinese authorities to restrict bitcoin mining...