Bitcoin dips below $24K for first time since 2020 as Binance halts withdrawals

Bitcoin dipped below $24,000 for the first time since 2020 as Binance, the world’s biggest cryptocurrency exchange stopped users from withdrawing bitcoin early Monday. Binance founder and CEO Changpeng Zhao blamed the “temporary pause” on “a stuck transaction causing a backlog” in a tweet at 8 a.m. on Monday. Zhao initially said the clog would take 30 minutes to clear, then wrote in a follow-up … Continue reading Bitcoin dips below $24K for first time since 2020 as Binance halts withdrawals

Justin Bieber buys Bored Ape NFT for $1.29M

Justin Bieber purchased a Bored Ape Yacht Club (BAYC) NFT for $1.29 million, paying a reported 300 percent more than its valued market price. The singer posted a photo of the new BAYC #3001 – which features a cartoon ape in a black T-shirt with tears in its eyes – to his Instagram on Monday, along with lyrics from his 2021 hit song “Lonely.” “What if you had it … Continue reading Justin Bieber buys Bored Ape NFT for $1.29M

Why is the price of Bitcoin and other cryptocurrencies falling?

The price of Bitcoin fell as much as 29% Wednesday after the China Banking Association warned member banks of risks associated with digital currencies. Other digital currencies suffered sharp declines as well. Bitcoin’s volatility was on full display: The decline had narrowed to below 10% in early afternoon trading. Bitcoin has lost about 40% of its value since April 13 when it hit a high … Continue reading Why is the price of Bitcoin and other cryptocurrencies falling?

Tesla buys $1.5 billion in bitcoin and plans to start accepting it as payment

The company said it bought the bitcoin for “more flexibility to further diversify and maximize returns on our cash.” Tesla announced Monday it has bought $1.5 billion worth of bitcoin. In a filing with the Securities and Exchange Commission, the company said it bought the bitcoin for “more flexibility to further diversify and maximize returns on our cash.” Tesla also said it will start accepting payments in … Continue reading Tesla buys $1.5 billion in bitcoin and plans to start accepting it as payment

$150 billion wiped off cryptocurrency market in 24 hours as bitcoin pulls back

 Bitcoin and other digital coins tanked on Monday, wiping some $150 billion off the cryptocurrency market. The market capitalization or value of the cryptocurrency market was $931 billion around 6:00 p.m. ET, down from $1.08 trillion a day earlier, according to Coinmarketcap. Bitcoin, the largest cryptocurrency, fell over 10% from a day earlier to $34,200, according to Coin Metrics data. It earlier sank to an intraday … Continue reading $150 billion wiped off cryptocurrency market in 24 hours as bitcoin pulls back

Bitcoin Breaches $34,000 as Rally Extends Into New Year

Bitcoin, the world’s largest cryptocurrency, topped $34,000 just weeks after passing another major milestone. The currency gained as much as 9.8% to $34,792.48, before slipping to about $33,500 as of 3:05 p.m. on Sunday in London. It advanced almost 50% in December, when it breached $20,000 for the first time. The latest gains top an eye-popping rally for the controversial digital asset in 2020, which rebounded sharply … Continue reading Bitcoin Breaches $34,000 as Rally Extends Into New Year