OPEN APP
Home > Market > Cryptocurrency

Cryptocurrency

Bitcoin’s weakness in the face of market gyrations raises questions about its efficacy as a store of value and hedge against inflation, a key argument among proponents of its stunning rally over the past year. (AFP)
Bitcoin’s weakness in the face of market gyrations raises questions about its efficacy as a store of value and hedge against inflation, a key argument among proponents of its stunning rally over the past year. (AFP)

Bitcoin slides in worst weekly drop since march amid selloff

The digital token slumped 20% this week, the most since the pandemic-fueled selloff last March

Photo: Reuters
A collection of Bitcoin (virtual currency) tokens (Photo: Reuters)
A collection of Bitcoin (virtual currency) tokens (Photo: Reuters)

Bitcoin heads for worst weekly slide in a year amid selloff

The largest cryptocurrency slumped as much as 21% this week, the most since March. The wider Bloomberg Galaxy Crypto Index, tracking Bitcoin, Ether and three other cryptocurrencies, is down 23% this week

Coinbase files to go public on Nasdaq through direct listing
Bitcoin rebounded from a two-day rout, rising 3.5% to $49,625 as of 11:27 a.m. in New York. (Bloomberg)
Shaktikanta Das said the RBI will not pull out liquidity prematurely and stifle growth (PTI)
Bitcoin, the largest cryptocurrency, is up about 22% this week (AFP)
The RBI has in the past expressed concerns on digital currencies related to issues ranging from money laundering to funding terrorists. (Mint)
The RBI has in the past expressed concerns on digital currencies related to issues ranging from money laundering to funding terrorists. (Mint)

RBI voices ‘major concerns’ about cryptocurrency

Governor Shaktikanta Das says the Reserve Bank of India has conveyed ‘major concerns’ to the government

The cryptocurrency rally is at the center of one of the hottest debates in financial markets. (REUTERS)
A representation of virtual currency Bitcoin. (REUTERS)
A representation of virtual currency Bitcoin. (REUTERS)

Bitcoin bet sparks rally at Japan’s most expensive brokerage

  • Shares of Monex Group Inc. have been tracking the ups and downs of Bitcoin, and have more than tripled since the cryptocurrency’s rally gained momentum in October
  • Monex has been diversifying into crypto as intensifying competition dims prospects of its mainstay stock brokerage business

On cryptocurrency trading, Jhunjhunwala said, 'I think it's speculation of the highest order'
FILE PHOTO: SpaceX owner and Tesla CEO Elon Musk.  (REUTERS)
Critics say the cryptocurrency's high volatility is among reasons that it has so far failed to gain widespread traction as a means of payment. (Photo: Reuters)
Critics say the cryptocurrency's high volatility is among reasons that it has so far failed to gain widespread traction as a means of payment. (Photo: Reuters)

Bitcoin tumbles 17% to $45,000 as doubts grow over valuations

  • The world's biggest cryptocurrency suffered its biggest daily drop in a month, falling as low $45,000.
  • The drop extended a slump of nearly a fifth from a record high of $58,354 hit on Sunday — though bitcoin remains up around 60% for the year

Bitcoin, the largest cryptocurrency is down 8% (AFP)
It’s widely believed that volatile weekend swings are driven by individuals trading the cryptocurrency at home.
It’s widely believed that volatile weekend swings are driven by individuals trading the cryptocurrency at home.

Bitcoin pares losses after tumbling on Elon Musk’s price remarks

  • The world’s largest cryptocurrency has been on a tear this month, propelled by purchases from Musk’s Tesla Inc. and institutional investors who say Bitcoin is an attractive alternative to gold and the dollar

Bitcoin plunged more than 16% and back below $50,000 in New York, giving up more than $8,000 in a matter of hours after the world’s richest man tweeted his concern that the price had risen too far too quickly (Photo: Reuters)
Bitcoin plunged more than 16% and back below $50,000 in New York, giving up more than $8,000 in a matter of hours after the world’s richest man tweeted his concern that the price had risen too far too quickly (Photo: Reuters)

Bitcoin tumbles after Elon Musk hints that prices are excessive

Elon Musk’s embrace of Bitcoin last week rocketed the cryptocurrency 20% higher to more than $58,000. His cold shoulder this weekend has it in freefall

If and when a Bitcoin ETF finally arrives in the US, growth could be explosive (AFP)
A representation of virtual currency Bitcoin (REUTERS)
Bitcoin rose as high as $58,350 on Sunday before retreating to about $56,200 as of 2:30 p.m. in Tokyo on Monday. (AFP)
×
Edit Profile
My ReadsRedeem a Gift CardLogout