Bitcoin
2024 - 8 - 5Bitcoin’s Roller Coaster: Will it Ever Get Off the Crazy Ride?
Bitcoin - Cryptocurrency - Ether - Market Trends - RecessionBitcoin and Ethereum take a nosedive amid recession fears. Will these cryptos bounce back or is it back to the drawing board?
Bitcoin, the darling of the cryptocurrency world, faced a catastrophic plunge recently, crashing to multi-month lows that sent shockwaves throughout the financial community. On Monday, Bitcoin (BTC) fell over 14% in just 24 hours, leading to a staggering drop of more than $220 billion from the crypto market. Investors are beginning to buckle up as recession fears loom large like a thunderstorm ready to unleash torrential rain on their wallets. Known primarily for its volatility, Bitcoin’s latest crash has bewildered everyone, from seasoned investors trying to read patterns, to casual enthusiasts who thought they could ride the next wave of highs.
The turmoil didn’t stop with Bitcoin, as Ethereum (ETH) also witnessed its worst drop since 2021, sustaining a potent 18% hit. Even assets like BNB are finding it hard to maintain their positions against an overwhelming selloff triggered by economic uncertainties. Carry trading, a popular strategy favored by many investors that exploits price discrepancies, also faced a promising boost only to be dashed against the harsh rocks of recently disappointing economic data from the US. Amid this chaos, it seems like the odds are stacked against even the most bullish crypto traders.
As the cryptocurrency market wrestles with these declines, the broader implications of recession fears are echoing far beyond Bitcoin and Ethereum. Market participants are tightening their belts as a sense of risk aversion creeps into their decision-making. With Bitcoin prices teetering just above the $54,000 mark at one point before plummeting under $50,000, it’s apparent that what the market needs is stability—a factor currently absent from global equities as well. The links between macroeconomic indicators and the crypto market are once again coming into sharp focus, suggesting that Bitcoin’s fate is entwined with traditional financial mechanisms more than it might want to admit.
But before we throw a funeral for Bitcoin, historical trends show that these market corrections are sometimes just the springboard for soaring heights in the future. The cryptocurrency landscape has proven resilient, often bouncing back from the brink of disaster. Interestingly enough, Bitcoin’s price has fluctuated wildly over its lifespan; it was just a few years ago that it hovered below $5,000 and eventually reached all-time highs above $60,000. So, who’s to say that while today’s headlines might read doom and gloom, tomorrow’s could herald a new resurgence?
As we continue to monitor this roller coaster ride, one fun fact to ponder: Did you know that the first-ever purchase with Bitcoin was for two pizzas in 2010? Those pizzas would’ve cost about $25 — now that Bitcoin is hovering around $50,000, you can imagine the true cost! Additionally, Bitcoin’s entire journey embodies the essence of risk and reward in the investment world; just like a thriller movie, it leaves you on the edge of your seat with every twist and turn!
Bitcoin plunges to multi-month lows, wiping out over $220 billion in ... (Economic Times)
Bitcoin (BTC) plunged to multi-month lows on Monday, falling over 14% in 24 hours amid US recession fears and disappointing economic data.
Bitcoin Price Crash to $50K Dashes Carry Traders' Hopes (Coindesk)
Carry trading, a popular strategy from the first quarter, involves profiting from pricing discrepancies between two markets.
Bitcoin plunges, Ether sees worst drop since 2021 amid US ... (Hindustan Times)
Bitcoin has fallen alongside other assets including global equities in a broad selloff as investors fear a US recession could be on the horizon.
Bitcoin Plunges, Ether Has Worst Drop Since 2021 as Crypto Sinks (Yahoo Finance)
(Bloomberg) -- Cryptocurrencies reeled from a bout of risk aversion in global markets on Monday, at one point sending Bitcoin down more than 16% and ...
Bitcoin, ether hit multi-month lows as recession worries take hold (Investing.com)
Crypto markets have gotten a boost this year after the U.S. Securities and Exchange Commission approved an exchange-traded fund to track the spot price of ...
500b wiped out from crypto market as bitcoin ether sink to multi ... (The Express Tribune)
Bitcoin (BTC) and Ethereum (ETH) prices tumbled drastically, falling 10% and 18% respectively.
Bitcoin down 10 pc, trading around $54000 - Tripura Chronicle (Tripura Chronicle)
The price of bitcoin fell by 10% early on Monday morning, to a one-month low just above $54000, trading data.
Bitcoin plunges, Ether has worst drop since 2021 as crypto sinks (Deccan Herald)
By Suvashree Ghosh and Ryan Weeks. ADVERTISEMENT. Cryptocurrencies reeled from a bout of risk aversion in global markets on Monday, at one point sending ...
Market Mayhem: Bitcoin crashes below $50k; Ethereum, BNB fall up ... (Business Standard)
Crypto Market Crash: The popular cryptocurrency has traded in the range of $49121.24 (low) to $61058.94 (high) in the last 24 hours.
Why Bitcoin and Ether are in retreat (The National)
Investors shun risk assets as markets fear a US recession on the horizon and rising geopolitical worries.
Bitcoin slips below $50000 mark as crypto market bleed only gets ... (Investing.com India)
Investing.com -- The cryptocurrency market had a tough week, culminating in a severe decline early Monday. Major assets like Bitcoin, Ethereum, ...
Bitcoin drops below $50000 for the first time since February (CNBC)
Cryptocurrencies tumbled amid a global market sell-off spurred by recession fears. The price of bitcoin sank more than 13% on Monday to $50,963.57, ...
Bitcoin, ether hit multi-month lows as recession worries take hold (Reuters)
Bitcoin and ether plunged on Monday to multi-month lows as worries over a possible U.S. recession in the wake of soft data gripped financial markets and ...
Global crypto market sees massive drop in market cap, as bitcoin ... (Business Today)
The global crypto market experienced a significant downturn, with a 12.29% decrease in market cap in just one day. Despite this, Bitcoin remains a dominant ...
Stock Market Today: Dow Futures Fall; Japan's Nikkei Posts Biggest ... (The Wall Street Journal)
Stock Market Today: Global Selloff Intensifies; Nasdaq Futures Slide Over 5%. The Nikkei plunged 12%, the most since 1987. Stock futures traded sharply lower ...
Bitcoin, Ether Tumble in the Biggest Decline Since FTX Collapse (Livemint)
Cryptocurrencies reeled from a bout of risk aversion in global markets on Monday, at one point sending Bitcoin down more than 16% and saddling second-ranked ...
First Mover Americas: Bitcoin Crashes to $50K as 'Perfect Storm' Hits ... (Coindesk)
The latest price moves in crypto markets in context for Aug 5, 2024.
Bitcoin and Other Cryptocurrencies Plunge, Mirroring Global Markets (The New York Times)
The precipitous falls show that digital currencies remain vulnerable to the same broader economic forces that affect technology stocks and risky ...
Bitcoin rebounds to $56000 amidst market volatility, indicates ... (Business Today)
Bitcoin has recovered to $56000, showing signs of market resilience and investor confidence after a significant drop. Experts suggest that this rebound ...
'Don't Be Fooled'—Coinbase Issues Serious Warning After $800 ... (Forbes)
The latest bitcoin price crash has sparked fears the crypto market could be headed for further losses...
Crypto suffers worst crash since 2022 as Bitcoin struggles to hold ... (Fortune)
Crypto prices are crashing amid a broader selloff. Fortune. Crypto prices are in free fall at a level not seen since 2022, when the collapse of major ...
Bitcoin's Unreliable Death Cross Is Looming Again (Coindesk)
BTC's near-term prospects are closely tied to the health of the U.S. economy and volatility in the Japanese yen.
Bitcoin Bounces to $53K After Brutal Sell-Off Reminiscent of Covid ... (Coindesk)
Bitcoin's 30% decline in a week was for some observers reminiscent of the March 2020 crash, but there's been multiple occasions of similar drawdowns during ...
Bitcoin rises as crypto and other risk assets look to rebound from sell ... (CNBC)
The price of the flagship cryptocurrency was last higher by 6% at $56,478.22, according to Coin Metrics. Ether also rose 3% to $2,477.91.
What's Next For Bitcoin and Ether After The Recent Selloff? (Investopedia)
Here's what experts say happened over the past few days and what lies ahead for the crypto markets as the U.S. navigates fears of economic uncertainty.
Bitcoin (BTC) Claws Back From Steep Losses as Crypto Traders Buy ... (Bloomberg)
Bitcoin and Ether clawed back from steep losses on Tuesday after a bout of risk aversion in global markets spilled over into crypto.
Crypto Price Today: Bitcoin Continues to See Losses, Majority ... (Gadgets360)
The overall crypto market cap grew by over two percent in the last 24 hours with most cryptocurrencies trading in profits.
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