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Bitcoin price – live: Crypto market hangs in balance after rollercoaster week

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Bitcoin price stabilized on Thursday morning after a turbulent week that took it to new lows for 2021.

Relative stability has had a calming effect on the broader cryptocurrency market, with Ethereum (Ether), Cardano (ada), and Dogecoin all hovering less than a few percent overnight.

Bitcoin was bolstered by news from South America that Paraguay could follow El Salvador’s lead by adopting Bitcoin as legal tender.

The milestone Bitcoin law passed in the Central American country earlier this month could potentially have a ripple effect across Latin America as politicians in several countries announce plans to introduce similar laws.

Cryptoanalysts remain divided over the short- and medium-term direction of the market, although large investors like MicroStrategy continue to “buy the dip”. Dogecoin co-creator Billy Markus also announced that he bought the meme-inspired cryptocurrency this week for the first time in eight years.

Here you can follow all the latest news and analysis.

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Paraguay follows El Salvador with Bitcoin law?

Paraguay appears to be the next country to follow El Salvador by introducing law that would make Bitcoin legal tender in the country.

One of the South American country’s largest entertainment groups plans to accept payments in cryptocurrency, while lawmaker Carolos Rejala says it plans to introduce laws next month.

The exact details are yet to be announced, but earlier this month Rejala said he was working with “the Paraguayan crypto community to make Paraguay a hub for the world’s crypto investors and then one of those on the way “. digital technology ”.

Anthony CuthbertsonJune 24, 2021 10:06 am

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The President of El Salvador shares the “sneak peak” of volcano-powered Bitcoin mines

El Salvador’s President Nayib Bukele has shared some fake pictures of the geothermal Bitcoin mines being built in the country.

President Bukele made money history earlier this month by passing the Bitcoin law through Congress, making El Salvador the first country in the world to adopt cryptocurrency as legal tender.

Then he ordered the country’s state-run geothermal energy company to use electricity from volcanoes for Bitcoin mining. It will be “very cheap, 100 percent clean” [and] 100 percent renewable, ”he claims and is part of the solution for moving away from fossil fuels.

Anthony CuthbertsonJune 23, 2021 5:33 pm

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Multi-billionaire says Bitcoin is “the gold of the modern world”

Mexican billionaire Ricardo Salinas Pliego, whose net worth is $ 13.2 billion, compared Bitcoin to gold, arguing that every investor should have something in their portfolio.

Speaking to José Rodriguez, former head of payments at Bitso crypto exchange, Pliego said that due to its limited supply, 10 percent of its liquid assets are in Bitcoin.

“In my opinion, all the advantages of Bitcoin are enough to make it the gold of the modern world,” he said in Spanish during the interview on YouTube.

“There’s no point arguing whether it’s a currency or not. The fact that Bitcoin has limited availability, is easy to transfer and has high global liquidity are compelling reasons to view it as part of an investment portfolio. “

Proponents of cryptocurrencies have often referred to Bitcoin as “digital gold”

(Getty Images)

Anthony CuthbertsonJune 23, 2021 1:53 p.m.

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UN report cites “promises” of the cryptocurrency in the fight against climate change

According to UN experts, cryptocurrencies and blockchain technology can be allies in the fight against climate change.

A new report acknowledges recent criticism of the environmental impact of Bitcoin mining, but says that there are solutions to this problem and that the underlying technology actually holds “promise” for building a sustainable global economy and combating climate change.

“The United Nations should continue to experiment in the blockchain area,” says Minang Acharya, one of the authors of a recent UNEP foresight briefing on blockchain applications.

“The more we experiment, the more we learn about the technology. This will likely improve our UN-wide knowledge of blockchain, our understanding of the environmental and social impact of mining operations, and improve our chances of dealing with any problems the technology could pose in the future. “

You can read the whole story here.

Anthony CuthbertsonJune 23, 2021 12:36 PM

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Bitcoin price prediction model “devalued”?

The creator of a price prediction model, which received a lot of attention during the last bull run, said the recent crash made it “restless” as it could invalidate its analysis.

The pseudonymous Dutch analyst PlanB first released its stock-to-flow (S2F) model in 2019, when Bitcoin languished below $ 4,000 and was in the middle of a bear market. The model is based on Bitcoin’s built-in scarcity – only 21 million will ever exist – and puts the cryptocurrency on a path of $ 100,000 before the end of 2021. (You can read more about the model here.)

PlanB updated its model in March 2020 when Bitcoin was below $ 5,000, with the new high at $ 288,000. For the next year, Bitcoin actually outperformed the model, but is now hitting the lower bands.

“I will void S2F if we don’t hit 100,000 by December this year,” he wrote. “We cannot stay at the current level for the rest of the year.”

Anthony CuthbertsonJune 23, 2021 11:23 am

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Bitcoin-owning Senator “buys the dip”

US Senator Cynthia Lummis says she is “really excited” about the recent Bitcoin crash because it allows her to buy more of the cryptocurrency at a cheaper price.

Speaking to Fox Business News when Bitcoin was below $ 30,000 yesterday, Republican lawmakers beat back comments from moderator Stuart Varney about Bitcoin’s “decline”.

She said, “I’m really excited because as soon as it drops a little more, I’ll buy more.”

She also said she hoped that any regulation introduced in the US will be “simple”, “easy to understand” and “not too restrictive”.

(Fuchs business news)

Anthony CuthbertsonJune 23, 2021 10:08 am

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Bitcoin price back in the green

Bitcoin has rebounded well over $ 30,000 to the point that it is trading higher now than it was at the time yesterday.

It’s a remarkable rebound of more than 10 percent in the last few hours after a devastating crash that took Bitcoin to lows not seen in 2021.

Major moves in either direction are often followed by significant corrections in the crypto market, so this is not so uncommon. However, now that traders break the USD 30,000 resistance level, they are likely to be looking down rather than up.

(CoinMarketCap)

Anthony CuthbertsonJune 22, 2021 8:59 PM

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Dogecoin founder is buying crypto for the first time since 2013

Dogecoin founder Billy Markus says he bought some of the meme-inspired cryptocurrency for the first time since joining eight years ago.

The announcement comes after a massive drop in the price of Dogecoin that resulted in it losing more than a third of its value in the past week.

Markus sold or spent his original holdings soon after the cryptocurrency was created with his software developer Jackson Palmer in 2013. He didn’t reveal how much he bought, but said he has followed the pattern of many recent times since acquiring his new supply as a crypto investor by relentlessly checking the price.

You can read the whole story here.

Anthony CuthbertsonJune 22, 2021 5:51 p.m.

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Bitcoin erases all of its price gains from 2021 to 2021

Bitcoin has fallen even further in the past few minutes, reaching below $ 29,000.

The cryptocurrency hit $ 28,893, which means that it has officially wiped out any gains made in 2021.

It’s still way up from that time last year when it traded below $ 10,000. It’s only $ 8,000 higher than its 2017 price high, however. At this rate, it won’t be long before we find out if it threatens those levels.

We’ll have some expert feedback shortly, but here’s a graph showing Bitcoin’s wild year so far.

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Anthony CuthbertsonJune 22, 2021 3:30 p.m.

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BREAKING: Bitcoin price plunges below $ 30,000

Bitcoin fell below $ 30,000 for the first time since January, adding to the already astounding losses since hitting an all-time high in April.

The cryptocurrency has fallen 54 percent since its record high. Other leading cryptocurrencies were dragged down with it, including Ethereum (Ether), Cardano (ada), and Dogecoin.

In total, more than half a trillion dollars have been wiped from the market in the past week.

Read the development history here:

Anthony CuthbertsonJune 22, 2021 2:14 p.m.

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Cryptocurrency

Indian Decor Brand The Rug Republic Starts Accepting Cryptocurrency for Payments: Report

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India’s decor brand The Rug Republic joins the ranks of Microsoft, Paypal and Overstock and has now reportedly started accepting payments in major cryptocurrencies for purchases. This makes the native decor brand the first major company to step into the insecure but exciting arena of cryptocurrency. The Rug Republic, which is said to be present in 90 countries, will reportedly use the WazirX and Binance platforms for these cryptocurrency transactions. Interested parties can purchase carpets, handmade accessories and other products available in The Rug Republic’s online shop using cryptocurrencies.

According to a report by Cryptopolitan, the company will accept payments in at least 20 major cryptocurrency tokens, including Bitcoin. The report also states that the Delhi-based brand plans to develop an in-house payment system for digital currencies.

Although the company is a global player in the decor business, the company has limited the acceptance of cryptocurrencies to its Indian customers only. Additionally, to avoid confusion, the company will reportedly keep a list of sales made through cryptocurrency tokens. The brand’s invoices will indicate the method of payment, including the name of the digital currency used, the date of purchase and the amount paid, as shown on the report.

Raghav Gupta, the CEO of Rug Republic and a cryptocurrency enthusiast, is quoted in the report as saying that blockchain is an excellent technology and can transform the financial world.

The Rug Republic boss is said to have invested in his first Ethereum token in 2016 and benefited from the cryptocurrency boom in recent months. Gupta also reportedly holds stakes in Polygon, an Indian cryptocurrency company that owns the Matic token. He explains in the report that the purpose of adopting digital currencies is not to convert them into major currencies. However, he expects the digital currency to see a historic surge. The Cryptopolitan report also states that Gupta trusts cryptocurrency more than the US dollar or Indian rupee.

In India, start-ups such as HighKart and Purse were among the first to accept cryptocurrencies as a means of payment. Among the countries, El Salvador recently became the first country to legalize cryptocurrencies.

Interested in cryptocurrency? We discuss everything about crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music, and anywhere you get your podcasts.

Cryptocurrency prices on Indian exchanges

Follow Gadgets 360 on Twitter, Facebook, and Google News for the latest technical news and reviews. Subscribe to our YouTube channel for the latest gadget and tech videos.

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NSAV ANNOUNCES IT’S ON SCHEDULE FOR AUGUST 9, 2021 LAUNCH OF CRYPTOCURRENCY EXCHANGE

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NSAV DIRECTOR AND BITMART EXCHANGE MANAGING PARTNER, MR. YUEN WONG TO OFFER VIDEO UPDATE TO SHAREHOLDERS NEXT WEEK

London, England, July 26, 2021 (GLOBE NEWSWIRE) – Net Savings Link, Inc. (OTC Pink: NSAV), a cryptocurrency, blockchain and digital asset technology company, announced today that it has signed up for the August 9 is on schedule. 2021 launch of its wholly owned cryptocurrency exchange. Mr. Yuen Wong, NSAV Director and Managing Partner of the leading cryptocurrency exchange, Bitmart https://www.bitmart.com, will give shareholders a video address next week and update the status of the exchange which will be branded NSAV. The launch officially marks the company’s entry into the global $ 2 trillion cryptocurrency market, making NSAV the second publicly traded US company to own a cryptocurrency exchange at over Coinbase after Coinbase https://www.coinbase.com/ went public in April $ 85 billion.

NSAV’s management believes that given the expertise of its management and strategic partners, the company can capture a significant share of the massive Chinese cryptocurrency market. Currently, Huobi Cryptocurrency Exchange https://www.huobi.com/en-us/ has over $ 6 billion in 24-hour trading volume and 40% of its users are from China. Huobi is number 3 worldwide in daily sales with $ 2.29 million, behind Upbit https://sg.upbit.com/home $ 3.42 and industry leader Binance https://www.binance.com / s with $ 3.48 million.

The NSAV added a countdown timer to their corporate website https://nsavholdinginc.com/ to keep shareholders informed of how much time there is before the official launch of our cryptocurrency exchange.

The management of NSAV and its partners are pioneers in the digital asset and blockchain industry. The team is led by the above mentioned NSAV director, Mr. Yuen Wong. Mr. Wong is also the CEO of LABS Group Limited https://labsgroup.io, the world’s first end-to-end real estate investment ecosystem powered by blockchain and powered by decentralized finance (DeFi) and governance from the LABS ecosystem Token is powered.

The story goes on

As one of the founders of Bitmart Cryptocurrency Exchange, Mr. Wong helped BitMart become a leading global digital asset trading platform with over 2 million users worldwide and was among the top crypto exchanges on CoinMarketCap. Bitmart’s platform supports over 220 cryptocurrencies and has a 24-hour trading volume of approximately $ 2 billion.

NSAV’s management released the following statement: “We are really excited to provide weekly updates to our shareholders and to be on track with the launch of our own cryptocurrency exchange.”

NSAV’s vision is to create a fully integrated technology company providing turnkey technological solutions for the cryptocurrency, blockchain and digital asset industries. Over time, the company plans to offer a wide range of services such as software solutions, e-commerce, advisory services, financial services, and information technology.

For more information, please contact NSAV at info@nsavholdinginc.com

The NSAV’s Twitter account can be found at https://twitter.com/nsavtech. be called

The NSAV corporate website can be found at http://nsavholdinginc.com

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe havens it creates. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, but not limited to, Net Savings Link, Inc.’s ability to meet its stated business plan. Net Savings Link, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable and that any such assumption may be inaccurate and, therefore, no assurance can be given that the forward-looking statements contained in this press release will prove to be substantiated to be exact. Given the significant uncertainties inherent in the forward-looking statements contained herein, inclusion of such information should not be taken as a representation by Net Savings Link, Inc. or any other person.

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Net Savings Link, Inc.
info@nsavholdinginc.com

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Bitcoin Jumps as Much as 20% to a Six-Week High

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Bitcoin price jumped to a six-week high on Monday, with some investors blaming the rally on liquidation of short positions and speculation that Amazon.

AMZN 0.51%

com Inc. may venture into digital currencies.

Bitcoin rose to $ 39,544.29, according to CoinDesk, its highest level since mid-June. It is up 18% from its Friday at 5 p.m. ET after briefly rising more than 20% on Monday morning. The rival currency, Ether, rose more than 14%.

Recent bullish comments from high profile cryptocurrency supporters have helped prop up price gains. Last week, Elon Musk, chief executive of Tesla Inc., said he and his rocket company SpaceX are holding Bitcoin despite concerns about its environmental impact. Mr Musk also said that Tesla would likely accept the cryptocurrency as payment again if the process of creating it, known as mining, became less dependent on fossil fuels.

“There has been a lack of good news in the cryptocurrency market for the past two months,” said Bobby Lee, founder and CEO of Ballet, a hardware wallet for cryptocurrencies. “Now they are trickling out, so investors and speculators are taking this opportunity to build their positions and buy back Bitcoin, causing the price to go up pretty dramatically.”

Bitcoin is still about 40% below its high of nearly $ 65,000 in mid-April. The following month, China’s renewed efforts to crack down on Bitcoin mining and trading contributed to sharp falls in prices.

Speculation has risen in recent days about Amazon’s possible plans for cryptocurrencies and related technologies after the company posted a position for a digital currency and blockchain expert.

The online retail and cloud services giant said the person who would be on its payments team in Seattle will be tasked with developing “Amazon’s digital currency and blockchain strategy and product roadmap.” That sparked online chatter that the company might one day allow customers to pay in cryptocurrencies. Amazon did not immediately respond to a request for comment.

China’s recent warning about cryptocurrencies has left the market in a tailspin. WSJ’s Aaron Back explains why recent changes in the value of Bitcoin, Dogecoin, Ether and other cryptocurrencies may point to barriers to mainstream adoption. Photo: Dado Ruvic / Reuters

According to data from Bybt, short positions in Bitcoin worth around $ 740 million were liquidated on Monday, more than ever in the past three months.

Many cryptocurrency exchanges allow their users to bet on price drops by taking short positions in their margin trading accounts. As with stocks, traders do this by borrowing cryptocurrencies like Bitcoin – sometimes with leverage or borrowed money – and selling them before buying them back at a lower price to repay their lenders.

Mr Lee said that when prices rise unexpectedly – especially in cryptocurrencies where there are a large amount of futures and other derivatives – traders are caught short, causing what is known as a short squeeze and making the price go even higher.

Claire Wilson, partner at Singapore-based consulting firm Holland & Marie, said volatility in the crypto market caused by a variety of factors is nothing new. “In the past few months, however, these wild price fluctuations have been linked more often to comments from personalities on social media,” she said.

Write to Elaine Yu at elaine.yu@wsj.com and Caitlin Ostroff at caitlin.ostroff@wsj.com

Copyright © 2021 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8

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