The price of bitcoin topped $48,000 on Thursday, marking a 10 percent increase from the start of the week.
Other major cryptocurrencies also saw gains due to positive news in the cryptocurrency space.
Cinema chain AMC announced that it will accept Ethereum (ether), bitcoin cash and litecoin along with bitcoin payment for tickets, the latest demonstration of the growing mainstream acceptance of the cryptocurrency.
The overall crypto market gained over 2.3 percent in the last 24 hours, taking it above $2.19 trillion. Analysts are divided about the market’s long-term trajectory.
British banking giant Standard Chartered recently noted That the value of bitcoin could reach new all-time highs in late 2021 or early 2022, but other forecasts suggest that the current trend could be below $20k by the end of the year.
You can follow all the latest news, updates and expert predictions here.
bitcoin price consolidation continues
The crypto market is up 2.1 percent in the last 24 hours, as bitcoin continues to recover.
It rose above $48,000 on Thursday, falling below $44,000 earlier this week. It has since declined slightly but remains above $47,000 – almost the same price it was at this time last week.
Other major cryptocurrencies have also seen steady growth throughout the week so far, most notably Polkadot (DOT), which has seen a 20 percent increase in prices in recent days.
Bitcoin is showing further signs of recovery since last week’s crash.
The price of bitcoin has reached $47,000 for the first time in 5 days, and has gained almost 4 percent in value over the past 24 hours.
The global crypto market is up about 3.5 percent over the previous day, and the chart isn’t quite as red as it was last week.
Other cryptocurrencies including Ethereum (ETH), Dogecoin (DOGE) and Binance Coin (BNB) are also showing signs of recovery in the past 24 hours.
Ask Anything a Crypto Expert
With the relative limited position of the crypto market, we’ve invited some experts to unpick recent events and take readers’ questions about what to expect in the days, weeks, months and years ahead.
Simon Trimborn, an assistant professor in the Department of Management Science at the City University of Hong Kong, and Fred Shebesta, a crypto advocate and founder of comparison platform Finder.com, will join tomorrow at 11 a.m. BST.
You can ask your questions in the comment section of this article.
Ask Bitcoin Experts Anything About the Crypto Market Crash
Ask your questions in the comments and a leading academic and market analyst will answer them
Bitcoin price shows signs of recovery
The price of bitcoin has returned above $46,000 with a gain of almost 5 percent over the past 24 hours.
Bitcoin’s gains have helped the global crypto market rise by 3.3 percent from this time yesterday.
Temporary recovery has been shown by several other major cryptocurrencies including Ethereum (Ether), Ripple (XRP) and Polkadot (DOT).
A snapshot of CoinMarketCap’s price index shows that it is not market-wide, with Cardano (ADA) and Solana (SOL) failing to reverse the declining trend in recent days.
MicroStrategy adds $500m to its bitcoin stash
MicroStrategy has added to its already considerable bitcoin holdings by purchasing nearly half a billion dollars worth of cryptocurrency.
CEO Michael Sayer announced the purchase on Twitter, revealing that bitcoins were purchased between July 1 and September 12 at an average cost of over $48,000. The price of bitcoin has declined slightly since then, but the average cost of all previous purchases means that the $3.16 billion the software firm spent on crypto is now worth more than $5 billion.
“As of 9/12/21 we have achieved #hodl ~114,042 bitcoins at an average price of ~$3.16 billion per bitcoin at ~$27,713,” he wrote.
You can read the full story here.
MicroStrategy buys another $250m worth of bitcoin in anticipation of a 100X price increase
CEO Michael Sailor believes cryptocurrency will ‘encapsulate the entire gold market capitalization’
BREAKING: Litecoin price chaos after Walmart fraud
Confusion broke out in the crypto market after news broke that Walmart had partnered with Litecoin to offer cryptocurrency payments to its customers.
Litecoin price surged by more than a third before it was revealed that the news release was a hoax, potentially part of a larger pump-and-dump scheme.
Several major publications and news wires reported the Walmart news to be fake before, including Reuters.
You can read the developing story here.
Cryptocurrency market engulfed in chaos after fake Walmart announcement
Cryptocurrency fraud largely described as a ‘pump and dump’ scheme
Floki price goes up after Elon Musk dog tweet
The price of several Shiba Inu-themed cryptocurrencies soared on Monday after Elon Musk shared an image of his new puppy.
“Floki has arrived,” the Tesla boss tweeted alongside a picture of a sleeping Shiba Inu dog.
Within minutes, the price of the Floki Inu Coin, the Floki Shiba and the Super Floki all reached new record highs. The obscurity of altcoins means that they are still out of the list of the top 2,000 cryptocurrencies on CoinMarketCap, despite the latest price increase.
You can read the full story here.
Unexplained crypto price suddenly rises after Elon Musk christened the dog
Tesla and SpaceX bosses previously said Dogecoin could be ‘future Earth currency’
More countries are on track to adopt bitcoin as legal tender.
Citi AM quoted Russian financial expert, Professor Vyacheslav Evgenev, as saying that Ukraine may plan to make bitcoin legal tender by early 2023.
The Eastern European country has already passed a draft law to legalize the cryptocurrency, following El Salvador’s adoption of bitcoin to open the crypto market to businesses and investors by next year.
Panamanian Congressman Gabriel Silva also announced a bill last week titled “Crypto Laws: Making Panama Compatible with the Digital Economy, Blockchain, Crypto Assets and the Internet.”
Former NSA analyst Edward Snowden has said that there is increasing pressure on competing countries to acquire bitcoin – “even if only as a reserve asset.”
El Salvador’s bitcoin adoption could hurt some multinational money transfer companies. CNBC reported that the South American country’s president, Nayb Bukele, estimates that with bitcoin adoption in the country, money service providers such as Western Union and MoneyGram could lose up to $400 million a year in commissions for remittances.
This could save money for the country’s diaspora who want to send their families and friends back home. However, recent polls have shown that most Salvadorans are opposed to cryptocurrency adoption, while regulators have expressed concerns about the move to turn the country into a fiscal paradise for money laundering.
Solana (SOL) Hits New Price – But What Is It Exactly?
The solana (SOL) on CoinMarketCap’s price index rose above $214 today. This marks a new all-time high and a remarkable 12,000 percent price increase since the beginning of the year. (For comparison, bitcoin’s 2021 gain is about 68 percent.)
It is now above Dogecoin and Ripple (XRP) with market caps north of $60 billion, but more impressively it has managed to completely undermine market trends this week, with the major cryptocurrency crashing and Then consolidated.
Here’s how it managed to achieve such heights, and the even higher ambitions of Solana’s developers.
What is Solana? The crypto that is growing 200 times faster than bitcoin in 2021
‘We’re competing with the Nasdaq and the New York Stock Exchange,’ says Solana’s founder
Credit: www.independent.co.uk /