Bitcoin prices have fallen nearly 7% since Friday to a level of around $ 42,000 per unit, although they rebounded somewhat over the weekend. The cryptocurrency is also down about 11% in the last month. The latest volatility comes as the central bank of China announced. that all cryptocurrency transactions in the country were illegal. While the cryptocurrency trading ban came into effect in China in 2019, it apparently continued through foreign exchanges. With the latest developments, cryptocurrency trading in China is likely to cease, which has likely triggered the liquidation of cryptocurrencies, which is putting pressure on prices.
Bitcoin prices have been on a wild ride this year. While the rates of the leading cryptocurrency more than doubled to a level of around 65,000 US dollars between the beginning of January and mid-April 2021 due to increased institutional interest, the rates returned to a level of just under 30,000 US dollars in mid-July. However, due to China’s crackdown on Bitcoin trading and the increasingly aggressive stance of the U.S. Federal Reserve , the currency has quickly rebounded from recent lows and is up about 65% since July 20 and is now at around $ 50,000 traded U.S.SEC has been increasingly open to allowing exchange-traded Bitcoin funds.
[8/23/2021] With Bitcoin Back At $50K, Consider These Crypto Stocks
Bitcoin prices have been on a wild ride this year. While the prices of the leading cryptocurrency more than doubled to a level of around 65,000 US dollars between the beginning of January and mid-April 2021 due to increased institutional interest, the prices returned to a level of just under 30,000 US dollars in mid-July. However, due to China’s crackdown on bitcoin trading and the increasingly aggressive stance of the U.S. Federal Reserve, the currency has quickly rebounded from recent lows, rising about 65% since July 20, and trading at around $ 50,000 today. The recent rebound appears to be driven by factors such as short coverage as well as signs that the U.S. SEC was increasingly open to allowing Bitcoin exchange-traded funds.
[7/1/2021] Bitcoin Prices Crash
[4/5/2021] Crypto Stocks To Watch
Cryptocurrency prices have skyrocketed this year. Bitcoin, the benchmark for cryptocurrencies, has nearly doubled to around $ 60,000 by the end of last week as more institutional investors approach the coin and companies like Tesla also indicate they accept bitcoin from Customer payments. However, investing in Bitcoin and other cryptocurrencies is risky at the current level. With falling Covid19 cases and rising vaccination rates in the US, the economic outlook is improving. Bond yields are also trending up, with the 10-year Treasury note yield increasing from about a month earlier this year to about 1.70% today. Considering this, investors are moving funds back to real-economy sectors, and it’s likely that non-productive assets such as Bitcoin will eventually impacted.
PayPal, a large online payment processor, enables customers to buy, hold, and sell cryptocurrencies. The company has gone a step further and last week launched its “Checkout with Crypto” service, which enables US customers to use their cryptocurrencies to pay at millions of online merchants around the world.
Nvidia announced a few weeks ago that it would be launching a GPU for mining cryptocurrencies. Nvidia has experienced a shortage of gaming GPUs in the past as its gaming processors were used to mine cryptocurrencies. The move should let the company better target the cryptocurrency mining space while potentially alleviating the lack of gaming GPUs.
CME Group, a derivatives exchange, plans to launch new Micro Bitcoin futures in early May, subject to regulatory approval. The smaller futures contracts are a tenth the size of a Bitcoin and are aimed at discerning traders and institutions.
[3/16/2021] Crypto Stocks To Watch As Bitcoin Nears $55k
Cryptocurrency prices have gone up this year, and Bitcoin has increased around 90% since the beginning of January and is trading at around $ 55,000 today. However, Bitcoin looks quite risky at current levels due to a number of factors as Covid19 cases are on the decline, the economic outlook is improving and bond yields are rising too. With that in mind, investors are likely to start pouring funds back into the real economy sectors and distressed assets like Bitcoin, which rallied during the pandemic, could be affected.
[2/18/2021] Which Stocks Should You Buy As Bitcoin Hits $50k?
cryptocurrencies have continued their rise this year, fueled by interest from retailers and institutions. While the cryptocurrency market leader Bitcoin has multiplied by 5% over the past 12 months and by almost 80% to date, the lesser-known cryptocurrency Dogecoin has increased more than 10-fold to this day. To be sure, these currencies remain a risky investment, given their relative lack of utility and extremely high volatility.
[Updated 1/20/2021] Cryptocurrency Stocks
Bitcoin prices have risen by more than 50% in the last month and have held up to 4 times more in the 12 months due to the increased interest from private customers and institutions. Even so, given its relative lack of utility and extremely high volatility, Bitcoin is still a risky investment.
Shares of Nvidia saw big gains in 2020, driven by growing demand for its GPUs from game consoles and data centers and the proposed acquisition of CPU designer ARM. The company recently indicated that it could restart the production of dedicated crypto mining GPUs, which essentially remove the video outputs that are required for gaming.
Square, a payments company, enables users to buy and sell bitcoins for cash through its mobile payments app. Bitcoin sales increased 8x to around 2.8 billion US dollars in the first nine months of 2020, the company said.
PayPal, a major online payment processor, has also reported increased exposure to its PayPay mobile app after rolling out support for Bitcoin last October, and around half of its cryptocurrency users open the PayPal app on a daily basis.
CME Group, the world’s largest financial derivatives exchange, also offers Bitcoin futures contracts. The exchange has become the world’s largest futures exchange for Bitcoin, with open interest rate contracts traded but not adjusted for the cryptocurrency with a value of 2.1 billion US dollars.
[Updated 12/7/2020] How Nvidia, Square & PayPal Stocks Are Benefiting From Soaring Bitcoin Prices
Bitcoin prices are up more than 160% to date, driven by several factors including increased institutional interest, the movements of financial technology companies Paypal and Square in the crypto space, and also the perception that the lack of digital currency is a hedge against inflation could be and a weakening American dollar.
While cryptocurrencies are likely to make up a small portion of these companies’ sales right now, they have the potential to go big – for example, the payment apps Square and PayPal, which make money by buying bitcoins from brokers and selling them to their customers who use a Square Cash app, generated approximately $ 1.63 billion in Bitcoin sales in the third quarter of 2020, an 11x increase over last year. Similarly, Nvidia is also benefiting from the demand for its top-of-the-line GPUs like the Ampere line of cryptocurrency miners. .
[Updated 10/29/2020] Cryptocurrency Stocks To Watch
Interest in cryptocurrencies is rising again with Bitcoin prices nearly 30% last month, driven by growing institutional interest and the recent move by PayPal to allow its customers to buy and sell certain cryptocurrencies.
Square Cash mobile wallet app has become a very popular way to buy and sell bitcoin. Shares are up a whopping 183% to date as investors bet that Square’s digital payment solutions will continue to rise in prominence through and after Covid19.However, the stock has fallen by around 9% in the last 5 trading days.
Nvidia, a semiconductor company best known for its graphics processors, which are increasingly used in machine learning and artificial intelligence, also has applications in Bitcoin mining. The stock has gained over 131% year to date although it declined by about -3% over the last week.
PayPal a large online payments processor, has indicated that it would allow customers to buy, hold, and sell cryptocurrencies such as Bitcoin and Ethereum directly within its PayPal and Venmo app. The stock is up by 88% this year and was down by about -1% over the last 5 trading days.
Advanced Micro Devices is a large semiconductor company that makes CPUs and GPUs that are increasingly used in Bitcoin mining. The share has so far gained around 79% and has been almost unchanged for 5 trading days.
CME Group, the world’s largest financial derivatives exchange, also offers Bitcoin futures contracts. Stocks are down about =18% since the start of the year and about -2% last week.
