Saturday, August 13, 2022

What Is Happening Crypto Market

How To Create A Maiar Wallet

What Is Happening In Crypto Markets Right Now? | The Truth

Enter the phone number to create an account and click Continue. Thats safe. The wallet does not store any user data: all private keys and personal information, including a phone number, are stored on a local device. You need a phone number so that you can send tokens to contacts on your smartphone.

Enter the 6-digit code to verify your phone number.

The wallet has been successfully created. The next step is to fund it with EGLD tokens. But before that, we recommend making a backup. To do this, first, go to the Profile section. And then open the wallet settings.

Now select Secret Phrase. After you save a backup of your wallet, you will have a checkmark labeled Backed Up, as in the picture below:

For security reasons, the seed is not displayed by default. To show the mnemonic password, click on the icon marked in the screenshot below.

The Maiar wallet warns that you must not share your seed phrase with anyone. Otherwise, your wallet will be compromised. The recovery phrase must be stored in a protected place inaccessible to unauthorized persons. Read the wallet recommendations carefully and click Ok.

How Much Is Bitcoin Worth Today

On Tuesday 9 November, Bitcoins price was trading up by roughly 11.5% on the last week after soaring to a new record price of over $68,000 on Tuesday morning.

The cryptocurrencys price began to surge on Sunday night as investors pumped the price from $62,319.98 at 8pm to $66,101.46 by 10am on Monday morning.

Bitcoins surge continued overnight on Monday as the cryptocurrency soared to $68,568.85 in value in the early hours of Tuesday morning, according to Coinbase.

While its price had fallen slightly from a 24 hour high of $68,525 on Tuesday morning to $67,983.80 as of 2.10pm, Bitcoins price hike still represents a year-on-year increase of more than 300% on last Novembers value.

It comes after the cryptocurrency dipped by approximately after surging to $67,700 in late October as traders appeared to pull back in anticipation of another price pump.

At the time of writing, Bitcoins value was fluctuating at around $67,921.67, or £50,107 according to Coinbase.

Crypto data aggregation platform, CoinMarketCap, recorded an increase in Bitcoins trading volume of almost 21% over the last 24 hours as of 2.25pm, with the cryptocurrencys trading volume reaching $41,758,072,990.

Crypto Crash Pushes Cardano Further Down The Ranks And Shiba Inu Gains On Dogecoin

  • The global crypto market has crashed by over 6% in the last 24 hours, with Bitcoin dipping below $60,000 and Ethereums price falling from $4,000.
  • Cardano is now trading below its critical support level of $2 and has dipped further down in the rankings, currently coming in fifth.
  • Dogecoin also has slipped to the 10th spot, with Shiba Inu preserving through the crash and holding its own on Doges heels.

Also Check: How To Short Bitcoin On Binance

Buying And Selling Cryptocurrencies Via An Exchange

When you buy cryptocurrencies via an exchange, you purchase the coins themselves. Youll need to create an exchange account, put up the full value of the asset to open a position, and store the cryptocurrency tokens in your own wallet until youre ready to sell.

Exchanges bring their own steep learning curve as youll need to get to grips with the technology involved and learn how to make sense of the data. Many exchanges also have limits on how much you can deposit, while accounts can be very expensive to maintain.

Bitcoin Climbs Above $60k After Report That Sec Wont Block Futures Etf

Whats Happening In Crypto Market

Bitcoin jumped above $60,000 for the first time in almost six months following a report that a bitcoin futures exchange-traded fund will clear the U.S. Securities and Exchange Commission . The SEC is reviewing around 40 bitcoin ETF filings with multiple decision deadlines on futures-linked products hitting next week. According to Bloomberg, the regulator is expected to approve at least some of them, clearing the way for trading to begin.

  • Coin Rivet

    The US Treasury has told members of the crypto community they are responsible for making sure they do not directly or indirectly help facilitate deals prohibited by the US sanctions.

  • News Direct

    FISHERS, Ind. October 15, 2021 /3BL Media/ – Land Betterment Corporation , an environmental solutions company fostering positive impact through upcycling former …

  • Read Also: Is Crypto Trading 24 7

    Why Is The Crypto Market Down

    Chinas crackdown on cryptos comes days after Musks shock announcement.

    Musks decision signifies a sharp u-turn for Tesla who only started accepting Bitcoin as payment for its services in February 2021.

    It came after the electric car company bought $1.5b of Bitcoin shares, which in turn sent the market price of both the crypto and Tesla soaring.

    Yet the impact on the environment of Bitcoin mining – a complicated process of minting new digital tokens – has seen Tesla withdraw this option for customers.

    The billionaire entrepreneur said: We are concerned about rapidly increasing use of fossil fuel for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.

    Musk reaffirmed his belief that cryptocurrency has a promising future but that it cannot come at great cost to the environment, in his Twitter post.

    Musk has been a long-time advocate of cryptocurrencies and the Tesla decision was felt across the market, with other digital tokens going down in price.

    Loading….

    Cfd Trading On Cryptocurrencies

    CFDs trading are derivatives, which enable you to speculate on cryptocurrency price movements without taking ownership of the underlying coins. You can go long if you think a cryptocurrency will rise in value, or short if you think it will fall.

    Both are leveraged products, meaning you only need to put up a small deposit known as margin to gain full exposure to the underlying market. Your profit or loss are still calculated according to the full size of your position, so leverage will magnify both profits and losses.

    You May Like: Why Is Crypto Market Down

    What Is Happening To The Cryptocurrency Market

    The COVID-19 pandemic shut down most of the world during the first half of 2020. While some economies began to reopen, the United States has seen a resurgence in COVID-19 cases in June and July that could crash growth during the second half of the year. Most experts agree that the economy will see a series of starts and stops until a vaccine arrives.

    New COVID-19 Cases in the United States â Source: Google/Wikipedia

    Compounding the pandemic-led market rout, crude oil prices fell sharply during the first half of the year following a disagreement between Russia and Saudi Arabia. Prices have rebounded to about half of their prior highs over the past two months, but low demand for energy could cap gains over the coming months until demand starts to resurface.

    Despite the dire economic situation, the benchmark S& P 500 index rebounded from a low of 2,237.40 in late March to 3,232.39 in early Juneânear their pre-COVID highs. Many investors believe that the economy could quickly snap back after a vaccine is developed, as evidenced by the rebound in unemployment between April and June.

    Sec Approves Bitcoin Etf Opening Crypto To Wider Investor Base

    What’s Happening in the Asian Crypto Markets?

    After years of trial and error by would-be fund sponsors, cryptocurrency investing is finally opening up to the masses with the tacit U.S. approval of a bitcoin exchange-traded fund. ProShares, which filed for its Bitcoin Strategy ETF this past summer, may be the first to launch next week. Proponents of a bitcoin ETF believe the product will be more widely accessible for individuals interested in bitcoin than the actual cryptocurrency by giving investors a regulated alternative to the underlying digital asset.

    Don’t Miss: How To Get Started Mining Cryptocurrency

    Bitcoin Is Up 131% Since January

    Bitcoiners are more than excited with the new ATH, which is following along the path to the $100k prediction in December. Additionally, 100 percent of all BTC supply is currently in the state of profit, meaning portfolios of all the inventors who HODLed through the May crash to the present are in green.

    At $66,990 ATH, the price of BTC has increased by 131 percent on the year-to-date chart. This means if you invested $1,000 in BTC at the beginning of the year, you would have around $2,310. This is quite huge compared to Gold, which has been down eight percent since the past year. However, Bitcoin YTD return is lower compared to the top four altcoins.

    Stablecoins As A Store Of Value

    Stablecoins have become increasingly popular throughout the crisis. For example, USD Coin has seen its market capitalization rise from about $420 million in February to more than $1 billion in July. Tether has similarly seen its market capitalization expand from less than $5 billion to more than $9 billion over the past 52 weeks.

    Tether Prices Throughout the Crisis â Source: CoinMarketCap

    Stablecoins have also benefited as more crypto traders choose to trade alternative cryptocurrencies, or altcoins, using dollar-backed digital tokens rather than Bitcoin. Given their inherent stability, traders can confidently use it as a liquidity tool for trading that isolates the opportunity in the altcoin, as opposed to dealing with Bitcoinâs volatility.

    Read Also: How Can I Buy Stock In Bitcoin

    Capitalizing On Your Crypto Losses

    The crypto market rout has provided an opportunity for investors to realize losses and offset their capital gains and regular income. By selling losing positions, traders can realize the losses and offset their capital gains and up to $3,000 of regular income. They can also roll these tax losses forward to offset future tax liabilities if theyâve maxed out the current year.

    Unlike stocks, investors may be able to take advantage of tax-loss harvesting without worrying about so-called wash sale rules. You may be able to sell a cryptocurrency, like Bitcoin and Ethereum, to realize a loss and immediately repurchase the same cryptocurrency to maintain your portfolio allocations.

    The best way to identify these opportunities is by talking with your accountant or using a tax-loss harvesting tool. ZenLedgerâs Tax Loss Harvesting tool makes it easy to automatically scan for opportunities in your portfolio regularly.

    An Easier Way To Buy Crypto With Etoro

    What Is Happening In Crypto Markets Right Now?

    Join the 20 million users who trust their investments with eToro.

    You can start investing from as little as $50.

    Choose from a selection of crypto assets including Bitcoin, Ethereum and Dogecoin. You can practice risk-free, with a virtual investment account.

    There have also been warnings around scams related to cryptocurrencies, with people losing vast sums of money.

    You should never invest in something you dont understand and you should never put in money that you can’t afford to lose entirely.

    You May Like: Where To Buy Icon Crypto

    Tribe Capital To Launch $75m Crypto Fund

    Tribe Capital, a venture capital firm with investments in Kraken and FTX among others in the crypto sector, is launching a $75 million crypto fund, sources familiar with the initiative told CoinDesk. San Francisco-based Tribe Capitals fund will focus strictly on the crypto sector, taking long positions in early-stage projects, SAFTs , yield farming, treasury buys and mining. The fund will make 75% of its investments in U.S. projects and 25% internationally.

  • CoinDesk

    Bitcoin is inching closer to an all-time high after hitting $61K on Friday. Analysts and traders anticipate a US bitcoin ETF approval next week, which is fueling the recent price rally. Although technicals show resistance is near.

  • The Wall Street Journal

    The firm is slated to be the first to roll out an exchange-traded fund based on bitcoin futures.

  • First Us Bitcoin Futures Etf May Debut Monday Filing Says

    — Asset manager ProShares signaled plans to launch a Bitcoin futures exchange-traded fund as soon as Monday, an action that would end an eight-year wait for a security tracking the cryptocurrency on the U.S. stock market, according to a filing.Most Read from BloombergOut-of-Practice Airline Pilots Are Making Errors Back in the AirThe Worlds Rich and Powerful Are Stashing $500 Billion in This Tax HavenWhy Buying a Second or Even Third Home Is Becoming More Popular Than EverThe Bigge

  • Investor’s Business Daily
  • Barrons.com

    Fund sponsor ProShares appears to have won regulatory approval late Friday for its Bitcoin Strategy ETF.

  • Engadget

    Bitcoin mining should be as easy as plugging a rig into a power source,’ Square CEO jack Dorsey said.

  • MarketWatch

    ProShares looked set to be the first bitcoin exchange-traded fund, according to sources and fund specialists.

  • You May Like: How Do I Track My Bitcoin Transaction

    Square Ceo Dorsey Says Looking To Build A Bitcoin Mining System

    “If we do this, we’d follow our hardware wallet model: build in the open in collaboration with the community,” Dorsey said in a tweet. A team led by Square’s hardware lead, Jesse Dorogusker, will investigate requisites for Square to take on the project to build a bitcoin mining system. In his Twitter thread, Dorsey also said that silicon design or chip design is too concentrated into a few companies, leading to supply constraints.

    Incoming Ny Mayor Eric Adams Vows To Take First Three Paychecks In Bitcoin

    What Happened to the Crypto Markets? Why Bitcoin Tanked?

    New York City mayor-elect Eric Adams plans to take his first three paychecks in bitcoin, he said in a tweet on Thursday.

    “NYC is going to be the center of the cryptocurrency industry,” Adams wrote.

    On Wednesday, Adams also said in an interview with Bloomberg Radio that he wanted to wager a “friendly competition” with Miami Mayor Francis Suarez, who is a big bitcoin supporter.

    “He has a MiamiCoin that is doing very well we’re going to look in the direction to carry that out,” Adams told Bloomberg Radio, alluding that he’s looking into creating a city coin for New York that is similar to Miami’s.

    You May Like: Is Cryptocurrency Legal In Usa

    Why It Is Important For Business Leaders To Be Crypto

    Despite all the uncertainty around blockchain and crypto, we are still expecting to see a shift in its use. Nationwide supermarkets such as Tesco, Sainsburys and restaurants including Just Eat and Deliveroo are now accepting bitcoin as a way of buying a gift card via Bitpay. On the other side of the pond, AMC, Amazon and Tesla have expressed interest and future plans to embrace crypto.

    Blockchain has a lot of potential and can infiltrate a variety of industries outside of banking and finance from the property market to higher education institutions. The transparency and speed of blockchain can make property transactions which often include copious amounts of paperwork, possible fraud, and errors in public records more efficient, safer and easier.

    Crypto also potentially eradicates the needs for banks and other intermediaries. Creating a currency unique to the university for its students to use, for example, could prevent grants and loans from being used for reasons outside a students university journey.

    There are numerous examples that outline the potential and the shift in industry transactions that blockchain and crypto can bring which is why students of today need to be learning about it.

    Jack Dorseys Square Considers Building A Bitcoin Mining System

    — Jack Dorsey said Friday that Square Inc. is considering building a Bitcoin mining system that would be based on custom silicon and open source for individuals and businesses worldwide.Most Read from BloombergOut-of-Practice Airline Pilots Are Making Errors Back in the AirThe Worlds Rich and Powerful Are Stashing $500 Billion in This Tax HavenWhy Buying a Second or Even Third Home Is Becoming More Popular Than EverThe Biggest Public Graveyard in the U.S. Is Becoming a ParkWhat C

  • Barrons.com

    The Dow Jones Industrial Average gained 382 points, or 1.1%, one day after the benchmark climbed 534 points.

  • CoinDesk

    Though the Office of the Comptroller of the Currency has been looking into the crypto industry since at least 2018, this is the first time crypto has been included in the regulators annual operating plan.

  • Also Check: Where To Buy Cryptocurrency In India

    What Are The Prices Of Ethereum Shiba Inu And Cardano Today

    With cryptocurrencies often moving in tandem with Bitcoin, Ethereum was trading up nearly 11% on the last seven days after hitting a new record high of almost $5,000 on Tuesday morning.

    At 6am on Tuesday 9 November, Ethereum reached $4,842.54 according to Coinbase, setting a new record for the popular cryptocurrency synonymous with the rising crypto trend of NFTs.

    Ethereums previous all time high of $4,379.11 was reached in Mays cryptocurrency boom, but the cryptocurrency is now trading at roughly $4,832 as of 2.43pm on Tuesday afternoon.

    The hype surrounding popular memecoin Dogecoin had appeared to diminish recently as new altcoins took centre stage.

    Shiba Inu coin is trading up at approximately $0.00005580 as of 2.45pm today after smashing through multiple record highs in late October.

    Dogecoin, meanwhile, was trading up by less than one percent on the last 24 hours at $0.28 on Tuesday afternoon.

    Meanwhile, Cardano prices are fluctuating around $2.37 in a 16% increase on the last 24 hours, XRP Ripple was up 2.39% at $1.27 and Solana at $244.80 as of 2.50pm on Tuesday.

    What Is Blockchain Technology

    Crypto Market Hits Its Lowest for 2018

    You’ve likely heard some of the following terms if you’ve paid attention to the world of finance: Cryptocurrency, Blockchain, Bitcoin, Bitcoin Cash, and Ethereum. But what do they mean? And why is cryptocurrency suddenly so hot?

    First, we’ll explain the blockchain basics.

    As society become increasingly digital, financial services providers are looking to offer customers the same services to which they’re accustomed, but in a more efficient, secure, and cost effective way.

    Enter blockchain technology.

    The origins of blockchain are a bit nebulous. A person or group of people known by the pseudonym Satoshi Nakomoto invented and released the tech in 2009 as a way to digitally and anonymously send payments between two parties without needing a third party to verify the transaction. It was initially designed to facilitate, authorize, and log the transfer of bitcoins and other cryptocurrencies.

    Recommended Reading: Where Can I Buy Dogecoin Cryptocurrency

    Will Bitcoin Go Up If The Stock Market Crashes

    Not necessarily. Supporters of bitcoin see it as a diversifier in balanced portfolios, but it did no better than stocks at the start of the coronavirus pandemic. This is because investors panic-sold everything.

    In the first two weeks of March 2020, bitcoin went down over 40%.

    That was when we saw all equity markets take an aggressive leg down because of concerns about Covid-19, notes Rosie Bullard, partner and portfolio manager at James Hambro & Partners.

    So it wasnt exactly a store of value in an equity market reversal.

    If you look back to March of last year when we saw the market collapse, you didnt see bitcoin suddenly rally in that period.

    Rosie Bullard, partner and portfolio manager at James Hambro & Partners

    That said, how crypto assets perform during stock market falls will depend on why financial markets have collapsed.

    If it were an inflationary shock, such as we saw in 1974, most bitcoin investors believe it would provide protection.

    Popular news
    Related news