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The value of the world’s most popular cryptocurrency plummeted below $30,000 on Tuesday for the first time in a month, triggering fears of a collapse in the hugely volatile market.Today (Wednesday) has seen a huge turnaround for Bitcoin , with its price suddenly jumping in the space of an hour to $30,803.08, according to CoinDesk – up 3.5 percent over the past 24 hours.Ethereum’s price has jumped to $1,865.41 – up 6.6 percent over the past 24 hours – while Dogecoin has surged by a massive 9.3 percent over the same period to stand at $0.179909.
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Dogecoin forecasted to smash past $1 in sensational rebound
Ethereum’s price could ‘surpass $3,000 by end of August’, expert says However in a major blow, the EU has announced measures as it looks to crack down on the cryptocurrency industry by making digital wallets more traceable.
This is part of a larger effort to prevent money laundering and other financial crimes, and has seen Brussels introduce a legislation package that now requires cryptocurrency exchanges to collect information from their users on their platforms.
Currently, cryptocurrency wallets are totally anonymous, tied only to complex passwords and no personal information.
The new crackdown will target “crypto-asset service providers” as opposed to the users themselves, and will be the responsibility of transfer platforms to collect the personal information from the sender and receiver.
Cryptocurrency LIVE: Bitcoin’s price has jumped but the EU has dealt a huge blow to the market (Image: GETTY) EU Commissioner for Financial Services, Financial Stability and Capital Markets Union Mairead McGuinness tweeted: “Cryptocurrency is one of the newest ways to launder money.
“Our rules will now apply to the whole of the crypto sector.We will ban anonymous crypto wallets and make sure that crypto-asset transfers are traceable.”
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Cryptocurrency LIVE: Bitcoin’s price plummeted below $30,000 on Tuesday (Image: GETTY) Trending KEY EVENTS DogeCoin soars by more than 15 percent over past 24 hours 13:02 Crypto boost as biggest ever private deal closes 10:09 Crypto markets suddenly on the rise 08:08 Crypto expert warns Bitcoin could fall towards $10,000 09:13 Crypto crash as nearly $100bn wiped off market 07:54 Bitcoin could remain ‘stuck’ at $30,000 ‘for a while’ 08:10 17:08 Major crypto platform agrees new partnership with blockchain data firm
International crypto currency platform CEX.IO has announced a new partnership with the leading blockchain data monitoring provider Chainalysis.
15:19 Ethereum price soars
Ethereum (ETH) continues to surge and is closing in on $2,000.
ETH is currently trading at $1,904.40, according to Coindesk.
The price rise represents a 9.11 percent hike in the past 24 hours
13:02 DogeCoin soars by more than 15 percent over past 24 hours DogeCoin’s price has surged by more than 15 percent over the past day as the meme cryptocurrency leads the charge for the market’s recovery.
It value now stands at $0.191128, according to DogeCoin – up by 15.38 percent over the last 24 hours.
On Tuesday, DogeCoin’s price had fallen to as low as $0.162671.
12:26 Crypto expert warns of Bitcoin price fall despite new surge Vijay Ayyar, head of Asia-Pacific at cryptocurrency exchange Luno, warned the latest surge in Bitcoin’s price was likely a “dead cat bounce”, which is where a crypto asset recovers from a long-term decline before continuing to fall again.
He said unless Bitcoin can nudge above $32,000, the popular cryptocurrency could plummet to as low as $24,000.
Mr Ayyar told CNBC: “We saw broad market rallies across the board last night as well, and I think crypto is just playing off of that.
“In general, there are lot of macro factors weighing down on risk-on assets at the moment — inflation worries, Covid, and with crypto we’ve got more specific worries such as much more regulatory oversight.”
11:13 Bitcoin price surges towards $32,000 Bitcoin’s price is continuing to pick up momentum and is edging closer to $32,000.
The cryptocurrency’s value has jumped to $31,473.17, according to CoinDesk – up by seven percent over the past 24 hours.
This is after Bitcoin’s price had slumped below the $30,000 mark on Tuesday for the first time in a month.
10:09 Crypto boost as biggest ever private deal closes Crypto exchange FTX has raised $900million in a Series B funding round of more than 60 investors, meaning its valuation has now soared to $18billion.
FTX only launched in 2019 but a year ago it was already worth around $1.2billion.
The crypto exchange has secured a number of high-profile deals, including with NFL all-star Tom Brady as a brand ambassador and landing the naming rights to the stadium of the NBA team Miami Heat.
Alfred Lin, partner at one of the Series B investors Sequoia Capital, said: “FTX is the high-quality, global crypto exchange the world needs, and it has the potential to become the leading financial exchange for all types of assets.”
08:08 Crypto markets suddenly on the rise Cryptocurrencies are suddenly starting to surge following a disastrous day for the market.
Bitcoin’s price has jumped 3.7 percent in the past 24 hours to edge closer to breaking the $31,000 barrier again.
Ethereum is also on the rise, jumping 6.46 percent in the same period to $1,874.37.
Dogecoin has surged even further, increasing 8.1 percent to $0.180243.
22:57 Pulsechain has raised approx $25 million for SRF longevity research HEX developer Richard Heart has called it, “the largest charitable donation ever in the history of cryptocurrency”.
Richard Heart, the founder of the cryptocurrency HEX has developed an initiative whereby donators to the SENS Research Foundation (SRF) receive the pulse cryptocurrency in return.
According to Aubrey de Grey, the Chief Science Officer and Co-founder of the SENS Research Foundation, said his organisation’s research focuses on “not just slowing down the accumulation of damage that happens to the body over time and eventually kills it, but to actually begin repairing that damage”.
The scheme developed by cryptocurrency developer Mr Heart involves a revolutionary intersection between the worlds of cryptocurrency and science where donators to the SENS Foundation via pulsechain receive an amount of a new cryptocurrency in return.
20:57 Crypto-derivatives exchange FTX raised the largest private equity round in the sector’s history Today, FTX Trading Ltd., owner and operator of the exchange Sam Bankman-Fried, announced a $900 million fundraiser at an $18 billion valuation.
The exchange was worth only $1.2 billion a year ago.
19:23 ARK investments now hold $53.6 of Square shares as Jack Dorsey announces new bitcoin Defi platform After Jack Dorsey’s announcement about building a decentralised finance platform on bitcoin, 179,644 shares of Square (SQ) were added to ARK Invest’s ARKK ETF and another 46,273 shares were added to the ARKW ETF.The total amount owned now adds up to 225,937 new shares of Square worth around $53.6 million.
18:27 Elon Musk, Jack Dorsey, and Cathie Wood confirmed to discuss bitcoin at “The B Word” conference The conference to settle or advance the debate on bitcoin’s energy usage will take place on July 21.
Twitter’s Mr Dorsey hopes to encourage Mr Musk that bitcoin’s mining consensus mechanism utilises energy that comes from sources that are over 50 percent renewable.
If agreement is made at the conference, the bitcoin price could be boosted, further still Mr Musk could agree to re-allow Tesla cars to be bought with bitcoin.
16:57 Chia cryptocurrency up 2.45% today amid widespread market bear movement The cryptocurrency developed by Brian Cohen operates on a ‘proof of space ‘concept that has been rapidly filling up hard drives since its launch in March 2021.
The cryptocurrency claims to be the most environmentally friendly in the sphere.
Jason Feist, Seagate’s VP of engineering and leader of emerging products and solutions, explained: “The way that the execution happens in the consensus algorithm is now not based on a work calculation, but instead based on a space and time calculation.
“First and foremost, you take a device, and you have to plot the space.Plotting is very much like agricultural farming, you have to go out and define how big the plot is, what information should be there.”
15:28 Bitcoin has dropped below $30K, a major psychological level, will it decline to $20K Speaking to Express.co.uk Alexander Vasiliev, co-founder and CCO at the global payment network Mercuryo, commented this news: “Bitcoin fell below the $30k mark on 20th July after maintaining its position in the $30k to $40k price range since mid-May.This could potentially set-up the cryptocurrency for further decline, although it is yet to be seen whether bitcoin could indeed fall to $20k or lower.
“With growing fears over the spread of the Delta variant of COVID-19 and its implications on the United States economy, especially after the US’s June CPI report, Wall Street was hit hard on 19th July.
This led to a decline in bitcoin’s price.Bitcoin’s price could decline further if Wall Street enters into panic mode selling.
“Other reasons for the decline include China’s ban on cryptocurrency trading and increasing global cryptocurrency regulation.This is the right time to invest in the cryptocurrency, as its price is likely to rise when ethereum rolls out its London hard fork in August.
“That said, it is more likely that bitcoin will continue to fall in its price till the end of the month.Bitcoin will fall to $28k before it recovers.”
14:54 Ethereum and Dogecoin prices pick up slightly Ethereum and Dogecoin prices are starting to edge up slowly following a disastrous period for cryptocurrency markets.
The value of Ethereum currently stands at $1,744.36, according to CoinDesk.
This is still down 3.57 percent over the past 24 hours but has recovered from an earlier low of $1,723.78.
Dogecoin is also edging up slightly, with the price now standing at $0.163441, but still down 4.38 percent over the past 24 hours.
13:49 Bitcoin value continues to hover above $29,000 Bitcoin’s price appears to have stabilised above $30,000 following a disastrous 24 hours for the cryptocurrency.
The value of the digital coin stands at $29,732.86, according to CoinDesk – down by 3.22 percent over the past 24 hours.
Bitcoin’s price had edged to just under $31,000 after midnight but has since experienced an alarming fall.
11:14 Bitcoin price continues to plunge Bitcoin’s price has continued its downward spiral on Tuesday morning as the volatile cryptocurrency markets come under heavy pressure.
The value of Bitcoin now stands at $29,490.64, according to the latest data from CoinDesk – down by more than six percent over the past 24 hours.
Ethereum is also down seven percent over the same period to $1,743.09, while Dogecoin has plunged 8.6 percent to $0.162366.
09:13 Crypto expert warns Bitcoin could fall towards $10,000 Alex Kuptsikevich, senior financial analyst at FxPro, told Forbes: “Bitcoin’s swing range has declined recently, forming the basis for a powerful exit with a compressed spring effect.
“A sequence of increasingly lower highs is a significant selling factor.
“Given the fear-of-missing-out nature of cryptocurrencies, a prolonged consolidation is increasingly frustrating for speculators.
“The main question now is whether bitcoin fall to the levels near $23,300, where it paused before last Christmas.
“We cannot rule out that with massive liquidation of margin positions the price will even close the gap at $18,000.
“Overall, such a reversal would be a repeat of the 2018 so-called crypto winter, opening the possibility for a price collapse toward a bottom near $10,000, nullify the rally since October 2020.”
07:54 Crypto crash as nearly $100bn wiped off market Nearly $100billion was wiped off the entire cryptocurrency market in the past day as of 5.29am, according to CoinMarketCap data.
The latest Bitcoin crash comes after a massive sell-off in global stock markets, with Monday seeing the Dow Jones Industrial Average had its worst day since last October.
Bitcoin’s price plummeted 6.5 percent over the past 24 hours to below the crunch $30,000 mark.
Other cryptocurrencies have also plunged, with Ethereum down eight percent to $1,751.02 over the past 24 hours and Dogecoin crashing 8.4 percent to $0.164719.
22:15 Ethereum price latest
Ethereum is currently trading at $1,819.88, 3.82 percent lower than the previous 24 hour period, according to Coindesk.
20:31 Bitcoin price latest
Bitcoin is currently trading at $ 30,708.97, 3.24 percent lower than the previous 24 hours, according to coindesk.
18:56 Elon Musk to attend Bitcoin event this week
Elon Musk will attend a Bitcoin event later this week.
The Tesla boss will take part in the “The ₿ Word ” conference and join a live discussion at 12pm on July 21.
17:42 Bitcoin price latest
Bitcoin is currently trading at $30,682.94 and is down 2.45 percent in the last 24 hours, according to coindesk.
16:17 Bitcoin bill put forward in Paraguay
A Bitcoin bill has been put forward by senators in Paraguay.
Senators Carlos Rejala and Fernando Silva Facetti presented the legislation to lawmakers.
The bill reads: “This is not a legal tender, this is a commodity and the purpose of the law is to regulate and control this industry.
“That is the base project that we really have today.”
14:24 Bitcoin’s price suffers sudden slump Bitcoin’s price has plummeted sharply as the highly volatile cryptocurrency markets show no sign of steadying.
The value of the highly popular cryptocurrency dropped to $31,203.88 at midday, according to CoinDesk.
But is has plummeted even further to $30,743.00 – a decrease of more than three percent over the past 24 hours.
12:49 Major investor issues huge warning over stocks and Bitcoin David Tice, who sold his bear fund during the financial crisis in 2008, has warned it is a “very dangerous” time for investors of both traditional stocks and cryptocurrencies.
He told CNBC in the US: “The [stock] market is very overpriced in terms of future earnings.
“We are adding debt like we’ve never seen.
“We had a Bitcoin position when Bitcoin was at $10,000, however when it got to $60,000 we felt like that was long in the tooth.”
10:02 Bitcoin’s price beginning to fall again Bitcoin’s price is falling again as the world’s most popular cryptocurrency struggles to stabilise.
The value of Bitcoin now stands at $31,553.02 – down by nearly one percent over the past 24 hours, according to CoinDesk.
Bitcoin’s price has edged up slightly earlier this morning to $31,815.06.
09:09 Crypto analyst believes Bitcoin rally is incoming An on-chain analyst believes a Bitcoin rally is just around the corner as the world’s most popular cryptocurrency faces the possibility of a supply squeeze.
Will Clemente wrote on Twitter a Bitcoin supply shock could trigger a big BTC jump.
Quote: : “Hang in there guys.This thing is going to pop soon.
“Supply shock still in play this week.”
08:10 Bitcoin could remain ‘stuck’ at $30,000 ‘for a while’ In a series of tweets on Saturday, analytics service Quote: : “This is one of the longest drawdown #Bitcoin has had to deal with during a post-halving bull market.
“But 95 days is still only half the duration of the big drawdown of 2013.
“In terms of price trajectory this correction also looks very similar to 2013.If we continue like that, #BTC will remain stuck around $30k for a while.
“The one-month volatility of #Bitcoin is on a downtrend, but historically speaking it isn’t particularly low.
“So from that perspective it is possible for the trading range to stay pretty tight for longer.”
07:46 Cryptocurrency prices still in negative territory over past 24 hours The prices of all major cryptocurrencies are still in negative territory over the past 24 hours at the start of the trading week, according to CoinDesk.
Bitcoin’s value is only slightly down by 0.31 per cent to $31,808.38 as it continues to fluctuate wildly.
Ethereum’s price has slumped three percent to 1,906.72, while the value of meme coin Dogecoin has plummeted by four percent to just $0.180005..