CRYPTO NEWS: Latest BITCOIN News, ETHEREUM News, RIPPLE News
Bitcoin Price Rises Above $ 58k Why Bulls May Aim For $ 60k
Bitcoin price remained in positive territory and traded to a new all-time high above $ 58,000 against the US dollar.
After a strong close above the $ 55,000 level, the bitcoin price continued to move up.
Recently, there was a slight downward correction below the $ 57,500 level. There was a break below the 23.6% Fibonacci retracement level of the upward movement from the swing low of $ 54,000 to the high of $ 58,350. The price even fell below the $ 57,000 level, but the fall was limited.
Why Ethereum May Correct To $ 1,750 Before New Rise
Ethereum failed to hold above $ 1,900 and corrected lower against the US dollar.
Ethereum made another attempt to hold above $ 2,000, but to no avail. A recent swing high was formed around $ 1976, before the ETH price began another decline.
There was a break below the $ 1950 and $ 1900 support levels. Ethereum even tested the $ 1,850 support level and is now trading well below the 100-hour SMA. A low of about $ 1,853 has formed and the price is currently consolidating losses.
Elon Musk thinks bitcoin and ethereum prices are too high after cryptocurrencies hit record highs
Billionaire Elon Musk has been actively quoted in the cryptocurrency industry lately.
While Musk’s backing for Bitcoin was enough to make the cryptocurrency grow steadily, the billionaire philanthropist may have a different logic about the digital asset than other investors. In response to a question from crypto skeptic Peter Schiff, who has long said that gold is superior to bitcoin and money, Musk explained that in his opinion, bitcoin was simply a better form of liquidity than cash. He added:
XRP Down 12 Percent In Minutes As $ 1.7 Billion Crypto Was Liquidated
XRP has shown double-digit drops in a few minutes, but it’s not the worst altcoin.
XRP, the seventh largest cryptocurrency by market cap, recently dropped 12 percent in 50 minutes to $ 0.472 on Binance, erasing its previous gains.
After this sudden glitch, the cryptocurrency was able to achieve an impressive recovery, it is currently trading at $ 0.52.
More than $ 1.7 billion worth of cryptocurrencies have been liquidated in the last 24 hours, according to Bybt, with $ 1.2 billion destroyed in just 12 hours.
The volume of bitcoin churn from the exchange is growing, why aren’t bitcoin holders for sale?
With Bitcoin’s ongoing bull cycle, it is clear that holders of cryptocurrency are not selling the asset.
As shown by Glassnode data, the churn volume on the Bitcoin exchange reached a monthly high. This volume of exchange churn surpasses a similar record set by the first digital currency just 2 days ago.
Everyone is slowly picking up the bitcoin rush, with both retail and institutional investors investing in cryptocurrency like never before.
Since many are transferring their assets from exchanges, this indicates a lack of interest in selling or selling. The data suggests that
Bitcoin reaches 10% of gold’s market cap, according to one estimate
The total market capitalization of all gold mined is estimated to be between $ 10 and $ 11 trillion.
According to an estimate by Block Research, taken from GoldHub Gold.com, the market cap of bitcoin is currently just over 10% of that of gold.
The boosted figure comes after Bitcoin’s market cap surpassed $ 1 trillion for the first time last week. According to Coinbase data, as the price of the cryptocurrency increased, its value exceeded $ 57,000, bringing the total market capitalization to approximately $ 1.1 trillion.
Bitcoin market capitalization
MicroStrategy Prepares to Acquire $ 1,030,000,000 of Bitcoin Following Debt Offer Completion
Business intelligence firm MicroStrategy is gearing up for an additional $ 1.03 billion purchase of bitcoins.
In a new post on the company’s website, the publicly traded firm announces that it is completing a convertible note offer in an effort to raise more funds to buy bitcoins.
The offer, which closed on February 19, allows qualified institutional investors to purchase unsecured bonds from MicroStrategy with a maturity date of February 15, 2027.
Bitcoin Tweet Volume Reaches New High This Month
According to the data, the weekly number of tweets containing the word “bitcoin” became new this month.
For the week ending February 14, there were approximately 675,000 tweets containing the term “bitcoin”. This figure represents a 17.13% increase over the previous peak in volume in mid-January, with a total of around 576,000 tweets per week.
On social media, Simmons posted a tweet announcing his investment and warning his 938,000 followers that he is not a financial analyst and does not tell them what to buy or not to buy before telling them that he believes in the growth of the ADA project.