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Bitcoin Jumps on Expectations that SEC will Allow Futures ETFS

Bitcoin, the largest cryptocurrency by market capitalization has hit a six-month high on Friday, approaching the record hit in April, as traders became increasingly confident that U.S. regulators would approve the launch of an exchange-traded fund based on its futures contracts. The digital currency rose nearly 4% to as high as $59,664, its highest since mid-April. It has doubled in value this year and is near April’s record high of $64,895. U.S Sec Set to...

Bitcoin Rallies to Above $57 K, Highest Price Since May

Bitcoin extended its two-week rally Monday, climbing to the highest level since early May. The cryptocurrency last traded more than 3% higher at $57,530.81 after hitting as high as $57,740.82. Ben McMillan, chief investment officer at the quantitative index fund manager IDX, attributed the jump to increasing concerns about inflation being more than transitory as well as trading data that looks increasingly positive for the bitcoin price. “We’re looking at food prices that are at a...

China Bans Crypto Trading and Mining, Sending Bitcoin Tumbling

China’s most powerful regulators on Friday intensified a crackdown on cryptocurrencies with a blanket ban on all crypto transactions and mining, hitting bitcoin and other major coins and pressuring crypto and blockchain-related stocks. Ten agencies, including the central bank, financial, securities and foreign exchange regulators, vowed to work together to root out “illegal” cryptocurrency activity, the first time the Beijing-based regulators have joined forces to explicitly ban all cryptocurrency-related activity. All cryptocurrencies, including bitcoin and...

Bitcoin Falls Nearly 10% as El salvador Adopts it as a Legal Tender

The price of bitcoin fell Tuesday after breaking through $52,000 late Monday, reaching its highest level since May. The price action comes as El Salvador adopted the largest cryptocurrency by market capitalization as legal tender, becoming the first country to do so. Bitcoin dropped as much as 16% on Tuesday morning to $46,892.04. The digital currency is currently trading at $ 45,440.23 as of 10.30 A .M East African Time a 13.12% 24-hour decline. Consequently,...

Bitcoin Hits 3.5-Month High Over $50K as Ether Tops $4K

Cryptocurrency markets were buoyed by a fresh wave of bullishness Monday, as bitcoin rose for a sixth straight day to a three and a half-month high of over $50,000 and ether (ETH), the native token of the Ethereum blockchain, pushed past a key psychological level of $4,000. Bitcoin climbed to as high as $51,000 on Monday, a 3.06% rise and was changing hands at around $51,689.55 at around 12.00 P.M East African Time, the highest...

El Salvador Installs 200 ATMs for Conversion Ahead of Bitcoin Rollout

El Salvador has begun the installation of Bitcoin ATMs, which will allow its citizens to convert the cryptocurrency into U.S. dollars and withdraw it in cash, as part of the government’s plan to make the digital coin a legal tender. The government will install 200 of the teller machines to initially accompany its digital wallet called Chivo, a local slang term for ‘cool,’ President Nayib Bukele said on Twitter. He added that transactions will be...

Xiaomi Store Starts Accepting Bitcoin and Other Crypto currencies as a Form of Payment

Xiaomi, the Chinese tech giant, is now set to receive payment from Bitcoin, Ethereum, Tether, and even Dash for the purchase of a smartphone, smartwatches, along with other smart home products and devices. Xiaomi has partnered up with Utrust, a Swiss cryptocurrency payment service provider, to support payment via digital assets in the region. “We are a technological, innovative and disruptive brand. That’s why we always want to be one step ahead. We want to...

Bitcoin Continues Trading Lower, Ether and Dogecoin Follow

The price of bitcoin ( BTC) dropped below $30,000 late Monday night for the first time since Jun. 22, dragging other digital coins lower with it. Bitcoin was trading in the $29,000 range, about 3% lower on the day.  However, despite the plunge, bitcoin is currently trading at $30,833.49, a 3.2% rise as of 12.00 PM East African Time. The plunge came amid news that the New Jersey Attorney General issued a Cease and Desist...

Jack Dorsey Confirms Square is Considering a New Hardware Bitcoin Wallet

Square CEO Jack Dorsey has confirmed that the company is looking into building a hardware bitcoin wallet that will give consumers greater control over the cryptocurrency they own. “Square is considering making a hardware wallet for bitcoin. If we do it, we would build it entirely in the open, from software to hardware design, and in collaboration with the community. We want to kick off this thinking the right way: by sharing some of our guiding principles...

TikTok Bans Advertisements by Cryptocurrency Influencers

Social media giant TikTok has taken a drastic step toward not only banning cryptocurrency influencers on its platform but all creators promoting financial services. These include, but are not limited to, cryptocurrencies, buy now pay later companies, loans, credit cards, and Forex companies. The move is aimed at halting a growing tide of unsuitable high-risk investments and frauds being promoted on social media, which will also hit reputable financial firms. TikTok has come under scrutiny...

MicroStrategy Purchases Additional Bitcoins Currently Holding Over 105,000 Bitcoins

MicroStrategy has announced that it has purchased an additional approximately 13,005 bitcoins for approximately $489 million in cash at an average price of approximately $37,617 per bitcoin, inclusive of fees and expenses. However, shares of the Virginia-based enterprise software company closed down 9.7% Monday, mirroring a similarly sized slide in the price of bitcoin. The cryptocurrency was down more than 7% to around $32,600 per token as reports surfaced that China was scaling its crackdown on bitcoin...

Bank of Ghana Set to Introduce a Digital Currency the E-cedi

The Bank of Ghana has revealed it is in the advanced stages of introducing a digital currency,  the e-cedi. A Central Bank Digital Currency (CBDC) is the digital form of a country’s fiat currency that is also a claim on the central bank. Instead of printing money, the central bank issues electronic coins or accounts backed by the government’s full faith and credit. Speaking at a news conference, the central bank governor, Dr Ernest Addison,...

Bitcoin Falls Below $32K , Houbi Suspends its Services Due to China Crackdown

The bitcoin sell-off continued Monday following a roller-coaster week of trading as authorities in China and the U.S. move to tighten regulation and tax compliance on cryptocurrencies. Bitcoin fell roughly 16% to $31,772.43 by 12:27 p.m. ET, on Sunday according to Coin Metrics data. As of 6.00 A.M East African Time, the digital currency was trading at $ 35,737.18, a 5.18% decline. Ether, the second-largest cryptocurrency, has also been on a losing streak, declining 5.9%...

Bitcoin Slumps 30% to $31K before Rising Back to $40K after China Crackdown on Crypto currencies

Bitcoin, the world’s largest cryptocurrency by market capitalization, slumped on Wednesday by 8.7%. BTC was above the 10-hour moving average and below the 50-day, a sideways signal for market technicians. The total drop for bitcoin in the past 24 hours was 26.7%, going from a high of $43,602 around 21:15 UTC to as low as $31,926 around 13:15 UTC (9:15 a.m. ET) Bitcoin has recovered somewhat from that low to $40,084.06 as of 9.30 A.M...

Bitcoin Declines Sharply after Elon Musk Fails To Deny Tesla has Sold its Bitcoin

Bitcoin took a 3.7% drop to near $45,100 Sunday afternoon EST after Tesla CEO Elon Musk did not outright deny that the electric car has sold or could soon sell all of its bitcoin (BTC, -13.06%) holdings after the criticism Elon Musk received after suspending the digital asset as a form of payment. Bitcoin, the largest cryptocurrency by market capitalization, is currently trading at $ 43, 262.48 a 10.88% drop as of 7.00 A.M East African...

Tesla Suspends Bitcoin Car Purchases Over Environmental Concerns

Tesla CEO Elon Musk has announced that Tesla would be suspending the option to pay for vehicles using Bitcoin. In a tweet, Elon Musk said Tesla had suspended vehicle purchases using BTC out of concerns of rapid usage of fossil fuels in mining and transactions. “Tesla has suspended vehicle purchases using Bitcoin. We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of...

Wall Street Extends Decline Amidst Inflation Fears as Dollar & Bond Yields Jump

Wall Street suffered the biggest slump in at least 11 weeks on Wednesday and benchmark Treasury yields jumped after data showed consumer prices in April unexpectedly rose by the highest level in nearly 12 years, prompting bets on earlier interest rate hikes. A 0.8% jump in the U.S. consumer price index – outpacing a 0.2% forecast – boosted the U.S. dollar as expectations of rising real interest rates burnished the currency’s appeal. The gyrations in...

Ether Soars Above $4,000 a New all time High.

Ether[ ETH], the second-largest cryptocurrency by market capitalization, has reached an all-time high of $4,000. As of 10.00 A.M East African Time, ether was trading at $4,130.26, a 4% gain. ETH, which has been on a gaining streak over the past weeks, recorded a 36% weekly gain. The digital currency’s gain has been powered by speculation from new market entrants betting known as decentralized finance( Defi), which consists of blockchain-based trading and lending platforms that...

Tala Partners with Visa to Offer Crypto to the Unbanked

Global payments giant, Visa, has partnered with Tala, a mobile lending service in emerging markets, with a particular focus in Kenya, to bring the USDC stablecoin to the underbanked population. The companies announced that the idea behind this partnership is to provide easier access to cryptocurrencies for underbanked consumers, beginning with USD Coin (USDC), a stable-coin backed by the U.S. dollar and governed by the Centre Consortium. Crypto offerings to unbanked consumers USDC is supported on...

Ether Breaks above $3K , Top Nigerian Hotel Accepts Payment in Bitcoin

Ether  (ETH), the second-largest cryptocurrency by market capitalization, went above $3,000 Sunday for the first time in history. At press time, ether’s changing hands at $3,085.97, up more than 5.6%  in the past 24 hours. Ether’s impressive gains came as the demand for digital currency has soared. The total market capitalization for decentralization finance (DeFi) recently hit above $100 billion, with some of the most popular DeFi projects built on the Ethereum blockchain. Currently, there...

Ether Jumps to all Time High of $2,700, Bitcoin Hits $55K Mark

Ethereum, the second-largest cryptocurrency by market capitalization, was up on Wednesday, trading around $2,589.10 as of 10.00 A.M  East African Time, a 1.4% rise following a more than 5% rally the previous day.   Ether rose Tuesday to a record high price near $2,700 after a powerful three-day rally.   The new high came after three straight daily gains totalling 19%. The move extended the cryptocurrency’s stunning rally this year. On Tuesday, Bloomberg reported that...

Bitcoin Climbs Above $52K , Valkyrie Digital Assets to Launch Bitcoin ETF

For the first time in six days, Bitcoin rose past $52,000 as bulls pushed prices higher in early Asia trading hours Monday. In a rally that appeared to start around 22:00 UTC (6 p.m. ET) on Sunday, bitcoin (BTC) bounced off a seven-week low around $47,655, subsequently printing some of its largest hourly gains in two days. The largest cryptocurrency is now exchanging hands at $52 792.14 as of 9.00 AM East African Time.  ...

Asian Markets Mixed Amidst Rising U.S Taxes

Stocks in Asia-Pacific were mixed on Friday, with the price of bitcoin tumbling below $49,000. The Nikkei 225 in Japan fell 0.57% to close at 29,020.63, while the Topix index shed 0.39% to finish the trading day at 1,914.98. Earlier during the session, the Nikkei 225 had fallen more than 1%. South Korea’s Kospi closed 0.27% higher at 3,186.10. Mainland Chinese stocks nudged higher on the day, with the Shanghai composite rising 0.26% to 3,474.17 while the Shenzhen...

Bitcoin Drops Below $50,000 Amidst Rising U.S Tax Worries, Ether Follows

Bitcoin has fallen beneath the $50,000 psychological support line hitting its lowest point in 48 days. Bitcoin (BTC) is currently exchanging hands at $49,254.83 as of 10.00 A.M East African Time, a 9% drop over the last 24 hours. “On-chain data suggests we’re still in a long-term bull market in the short-term, we might have a correction and going sideways in a broad range since the market is over-heated among retail investors.” Ki Young Ju,...

Bitcoin Tumbles From Record High, Ether and Dogecoin Follow

The price of bitcoin tumbled over the weekend and was down as much as 19.5% from record highs of $ 62,000 posted by the largest cryptocurrency in the past week. On Sunday, Bitcoin tumbled more than 11%, its biggest 24-hour Decline dropping from about $62,000  to $55,000, its lowest level since the end of March. Currently, BTC is trading at $57,413 as of 11.00 AM East African Time. The reason for the plunge has not...

Bitcoin Tumbles Shortly After Reaching All-time High, Ether and Altcoins Follow

Bitcoin’s price edged lower after the largest cryptocurrency reached an all-time high on Wednesday trading at around $64,717.01 hours before Coinbase shares began trading on the Nasdaq. However, shortly after the digital currency slipped 2.34% and is currently trading at $ 62,831.23 as of 11.00 AM East African Time. The Coinbase listing is seen to be pushing crypto even more into the mainstream of investing, exposing legions of potential buyers to digital currencies, which have...

Bitcoin Steady at $54K as Visa Taps Deeper into the Cryptocurrency.

Bitcoin (BTC) was trading around $54,680 as of 12:50 UTC (8:50 p.m. ET), after falling late Monday to around $53,715, the lowest since March 16. The largest cryptocurrency fell 5.8% over the previous 24 hours. Bitcoin’s 24-hour range:? $58,407.62 -$53,795.15 Visa Taps Further into Bitcoin The decline in the digital currency comes at a time when Crypto.com, a Hong Kong-based payment and cryptocurrency platform has announced a global partnership with Visa. Crypto.com is a  pre-paid Visa...

Central Bank of Nigeria Denies Banning Cryptocurrency Usage

Central Bank of Nigeria has said the country’s citizens were free to use bitcoin and other cryptocurrencies and that all it has done is to prohibit their usage within the banking system. The Governor of the CBN, Godwin Emefiele, disclosed this in Abuja at the recent 30th seminar for Finance Correspondents and Business Editors organised by the bank. Central Bank of Nigeria insists only protecting banks Emefiele, who was represented by Adamu Lamtek, Deputy Governor,...

Bitcoin’s Price Spirals as Chinese Firm Meitu Announces $50Million Purchase

Bitcoin’s price spiralled on Wednesday as the cryptocurrency continues to receive support from investors amidst the Feds Reserve decision to keep interest rates close to zero this year. Bitcoin (BTC) was trading around $57,745.58 as of 20:00 UTC (4 p.m. ET). Climbing 3.68% over the previous 24 hours. Bitcoin’s 24-hour range: $54,201.70-$58,078.51. After consolidating for a while, both Bitcoin (BTC) and Ethereum (ETH) prices spiralled as the overall cryptocurrency market cap surged 5% moving past $1.80...

Bitcoin Extends Losses as JPMorgan Eyes Clearing House Options for Cryptocurrencies

Bitcoin extended it’s decline on Tuesday as a rally that took it past $61,000 over the weekend unwounded, reminding investors of the digital token’s high volatility. Bitcoin slid by 5.5% on  Tuesday and was trading at about $54,300 during early trading hours in Asia. The cryptocurrency had hit a record high of $61,781.83 on Saturday after U.S. President Joe Biden signed off on his $1.9 trillion fiscal stimuli and ordered an acceleration in vaccinations. Analysts...

Bitcoin Gains Bullish Momentum, Back on Resistance Zone of $55K

Bitcoin, the world’s largest cryptocurrency by market capitalization, has gained for a sixth straight day, extending its longest winning streak of the year and approaching the record high price reached last month. Changing hands above $56,000, up about 3% on the day, and within range of a quick run to the all-time high of $58,332. “We continue to see strong upward momentum from technicals,” Gary Pike, director of sales and trading at institutional cryptocurrency trading...

Bitcoin Climbs Back to $50K as Ether Gains Momentum

Bitcoin rose 5% on Wednesday to just above $50,000. Traders are now speculating whether the move represents a resumption of this year’s powerful bull market or simply a rebound following last week’s steep plunge to around $43,000. The largest cryptocurrency is now up 10% so far in March; this would mark the sixth straight monthly increase, the first time that’s happened in seven years. Bitcoin (BTC) has been trading around $50,500 as of 21:00 UTC...

Bitcoin Flat at $ 52K as Ether Gains Momentum

Bitcoin hovers around $52,000 as markets wait and see whether the current price level will be held in the next few weeks. Bitcoin (BTC) trading around $52,124.59 as of 11.00 p.m. Slipping 0.32% over the previous 24 hours. Bitcoin’s 24-hour range: $50,941.99-$52,621.84   The price of bitcoin hit a record high above $52,000 on Wednesday, with a market capitalization nearing $1 trillion causing alarm on the high volatility of the cryptocurrency. Analyst at JP Morgan...

Bitcoin Soars Past $52k as Analyst Warn on Volatility

The price of bitcoin hit a record high above $52,000 on Wednesday, with a market capitalization nearing $1 trillion. Bitcoin (BTC) was trading around $52,231.69 as of 21:00 UTC (4 p.m. ET). Gaining 7.16% over the previous 24 hours Bitcoin’s 24-hour range: $48,430.80-$52,536.47  The price has rocketed by about 78% in 2021, continuing an astonishing rally after dipping below $4,000 last year in  March. Its market capitalization has grown by more than $700 billion since the end...

Bitcoin Soars Past $50K Amidst Growing Support by Global Corporations

Bitcoin’s price broke above $50,000 for the first time in history on Tuesday, continuing its impressive rally as major companies appear to be warming up to cryptocurrencies. The world’s largest digital currency by market value rose more than 3% to an all-time high of $50,487 at about 7:30 a.m. ET, according to data from Coin Metrics. It later fell below the mark, trading 0.2% higher at a price of $48,760. Companies that have driven Bitcoin’s...

Bitcoin Rallies to $49K as Canada Approves First Bitcoin ETF

Bitcoin on Sunday morning hit a new high of $49,716.44 a 6.2% rise from Saturday’s price range. This came after a week of positive developments regarding increased Wall Street acceptance of the leading cryptocurrency according to market value While there does not seem to be any specific reason for the move, the record comes when there has been a growing interest in the digital currency. Canada Approves First Bitcoin ETF The first bitcoin exchange-traded fund...

MasterCard Set to Allow Payment in Crypto-currencies

Mastercard (MA), the credit-card giant company, has announced plans to give its vendors the option to receive payments in cryptocurrencies later in the year. On Wednesday, Mastercard said it was planning to offer support for some cryptocurrencies on its network this year, joining a string of big-ticket firms that have pledged similar support. Mastercard joins huge growing support for Bitcoin The announcement comes days after Elon Musk, the CEO of Tesla revealed the company has...

Tesla drives Bitcoin to a New High of $47K

The world’s largest cryptocurrency by market capitalization, bitcoin has rallied to an all time high blowing past $45,000, $46,000 and $47,000 in less than an hour on Monday evening, driven by Tesla’s announcement that it had bought $1.5 billion of bitcoin. The electric vehicle maker said Monday in an annual report filed with the U.S. Securities and Exchange Commission that it has put an aggregate $1.5 billion into bitcoin under a new investment policy and that the company may “acquire...

Visa Signals Further Cryptocurrency Ambitions With API Pilot for Banks

Visa is examining a suite of application programming interfaces (APIs) to allow banks to offer Cryptocurrency services. In a press statement, the payment giant said the Visa Crypto APIs pilot program will let clients “easily connect into the infrastructure provided by Visa’s partner, Anchorage, a federally chartered digital asset bank, to allow their customers to buy and sell digital assets such as  bitcoin as an investment within their existing consumer experiences.” Last week, Alfred Francis Kelly,...

Unknown Investors Transact $239 Million worth of Bitcoin, as BTC Tumbles to $31,000

Data obtained from Whale Alert, a crypto analytic tracker, revealed that an unknown BTC whale transferred 7,500 BTC worth $238,801,020 transferred from an unknown wallet to an unknown wallet. A growing number of powerful investors have recently been increasing their transactional volume in Bitcoin’s market, triggering the flagship crypto to trade $31,000 price level. Global investors and crypto-traders are now cashing in on some of their profits amid fear of regulation coming from the world’s...

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