Bitcoin

2024 - 8 - 5

Bitcoin's Roller Coaster: From Riches to Rags in Just a Few Days!

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Bitcoin and ether take a nosedive into multi-month lows, but don't worry, cryptos have survived worse!

This past week saw Bitcoin and ether experience significant downturns, spiraling down to multi-month lows amid rising fears of a potential U.S. recession. Investors are feeling the jitters as soft economic data from the States has sent shockwaves through financial markets, leading many to reconsider their positions in risky assets like cryptocurrencies. Reports show that Bitcoin plummeted nearly 15% last week alone, the worst weekly performance since the notorious FTX collapse in 2022. Market volatility is at an all-time high, prompting traders to cash out of their crypto holdings in droves.

With Bitcoin trading below the vital US$59,000 mark and ether experiencing its worst drop since 2021, the specter of a prolonged market downturn looms large. This panic has wiped out an astounding $270 billion from the crypto market, making even the most die-hard crypto enthusiasts question their investments. As Bitcoin tumbled further to a precarious $53,000, discussions about which price levels could act as support became a hot topic among analysts and investors alike.

Interestingly, amidst this selloff, global markets aren’t lending a helping hand. Japan's Nikkei index suffered another steep decline of over 6%, marking a three-day fall of nearly 15%. The correlation between traditional financial skittishness and crypto behavior is stronger than ever. It seems that when the stock market sneezes, crypto catches a cold. Investors find themselves in an intricate dance between navigating digital currencies and traditional assets, as fear drives decision-making across the board.

As shocking as these numbers may be, they reflect the inherent volatility of the cryptocurrency market. Just as we’ve seen this week’s losses, history shows that Bitcoin has bounced back numerous times from its lowest points, leaving many to wonder if this dip could pave the way for another surge. Fun fact: did you know that Bitcoin once surged over 1,300% in a single year? And while some investors freak out during downturns, others see them as golden opportunities to buy low and ride the inevitable wave back up to riches!

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Image courtesy of "Reuters"

Bitcoin, ether sink to multi-month lows as recession worries take hold (Reuters)

Bitcoin and ether tumbled on Monday to multi-month lows as worries over a possible U.S. recession in the wake of soft data gripped financial markets and ...

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Image courtesy of "The Straits Times"

Bitcoin sinks 11% after worst week since FTX collapse (The Straits Times)

Bitcoin is under pressure from a bout of risk aversion in global markets. Read more at straitstimes.com.

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Image courtesy of "CNBC"

Crypto selloff wipes out $270 billion in value as bitcoin, ether plunge (CNBC)

Bitcoin and ethereum suffered steep drops on Sunday as investors sold out of risky assets.

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Image courtesy of "Investopedia"

Watch These Key Bitcoin Price Levels as Investors Abandon Risk ... (Investopedia)

Bitcoin selling continued over the weekend and into Monday's Asian session, after the cryptocurrency plummeted nearly 15% last week as investors abandoned ...

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Image courtesy of "The Business Times"

Bitcoin drops below US$59000 after worst week since FTX collapse (The Business Times)

BITCOIN is under pressure from a bout of risk aversion in global markets that saddled the largest digital asset with its heftiest weekly loss since the ...

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Image courtesy of "Yahoo Finance"

Bitcoin Plunges, Ether Has Worst Drop Since 2021 as Crypto Sinks (Yahoo Finance)

(Bloomberg) -- Cryptocurrencies reeled from a bout of risk aversion in global markets on Monday, at one point sending Bitcoin down more than 10% and ...

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Image courtesy of "Malay Mail"

Bitcoin, ether sink to multi-month lows as punters dump crypto for ... (Malay Mail)

SINGAPORE, Aug 5 — Bitcoin and ether tumbled today to multi-month lows as worries over a possible US recession in the wake of soft data gripped financial ...

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Image courtesy of "Free Malaysia Today"

Bitcoin drops below US$59000 after worst week since FTX collapse (Free Malaysia Today)

The original cryptocurrency traded near US$58500 after losing 13.1% in the seven days through Sunday.

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Image courtesy of "Coindesk"

Bitcoin Tumbles to $53K, Ether Turns Negative for 2024 as Panic ... (Coindesk)

Japan's Nikkei fell more than another 6% early Monday, bringing that index's three-day decline to about 15%.

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Image courtesy of "Coindesk"

Bitcoin Continues to Bleed, Falls Below $50K (Coindesk)

The sell-off in bitcoin and the overall crypto market has been triggered by a wider fall in the financial markets as the fears of global recession and rising ...

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Image courtesy of "The Malaysian Reserve"

Bitcoin plunges, Ether has worst drop since 2021 as crypto... (The Malaysian Reserve)

Cryptocurrencies reeled from a bout of risk aversion in global markets on Monday, at one point sending Bitcoin down more than 11% and saddling second-ranked ...

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Image courtesy of "The Star Online"

Bitcoin, ether hit multi-month lows as recession worries take hold (The Star Online)

BITCOIN and ether plunged on Monday to multi-month lows as worries over a possible U.S. recession in the wake of soft data gripped financial markets and ...

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Image courtesy of "CNBC"

Bitcoin drops below $50000 for the first time since February (CNBC)

Crypto stocks Coinbase and MicroStrategy were among the hardest hit in premarket trading. Ether erased its year-to-date gain. In this article.

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Image courtesy of "Forbes"

$500 Billion 'Panic Rush For Liquidity'—Price Of Bitcoin, Ethereump ... (Forbes)

The price of Bitcoin fell 24%, hitting $53000, while Ethereum's price dropped by almost a third to $2340 over the past week as investors fly to safety.

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Image courtesy of "The Business Times"

Bitcoin plunges, Ether has worst drop since 2021 as crypto sinks (The Business Times)

CRYPTOCURRENCIES reeled from a bout of risk aversion in global markets on Monday (Aug 5), at one point sending Bitcoin down more than 16 per cent and ...

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Image courtesy of "Forbes"

Bitcoin Plummets Amid Wider Market Selloff (Forbes)

Cryptocurrencies bitcoin and ethereum took a tumble on Monday, dropping to near-six-month lows and ending months of gains as investors once again turn away ...

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Image courtesy of "Investor's Business Daily"

Bitcoin Price Tumbles To Six-Month Low, Cryptocurrency Markets ... (Investor's Business Daily)

Cryptocurrency prices tumbled early Monday amid the global stock market sell-off as investors fled risk assets. The price of bitcoin swept to its lowest ...

Bitcoin and Other Cryptocurrencies Plunge, Mirroring Global Markets (The New York Times)

The precipitous falls show that digital currencies remain vulnerable to the same broader economic forces that affect technology stocks and risky ...

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Image courtesy of "Yahoo Finance"

Bitcoin is having its worst week since the fall of FTX (Yahoo Finance)

Bitcoin is having its worst week since the 2022 collapse of Sam Bankman Fried's FTX cryptocurrency exchange amid a larger correction across all markets.

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Image courtesy of "Coindesk"

Crypto Stocks Slump as Bitcoin, Ether Tumble (Coindesk)

Coinbase, MicroStrategy and miners fell as equity markets declined worldwide.

Bitcoin, Ether Tumble in the Biggest Decline Since FTX Collapse (Livemint)

Cryptocurrencies reeled from a bout of risk aversion in global markets on Monday, at one point sending Bitcoin down more than 16% and saddling second-ranked ...

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Image courtesy of "Business Today"

Bitcoin rebounds to $56000 amidst market volatility, indicates ... (Business Today)

Bitcoin has recovered to $56000, showing signs of market resilience and investor confidence after a significant drop. Experts suggest that this rebound ...

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Image courtesy of "The Edge Markets MY"

Bitcoin claws back from steep losses as crypto traders buy dip (The Edge Markets MY)

(Aug 6): Bitcoin inched back to briefly top US$56000 (RM250,164) on Tuesday, after a bout of risk aversion in global markets inflicted steep losses on most ...

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Image courtesy of "Coindesk"

Bitcoin Bounces to $53K After Brutal Sell-Off Reminiscent of Covid ... (Coindesk)

Bitcoin's 30% decline in a week was for some observers reminiscent of the March 2020 crash, but there's been multiple occasions of similar drawdowns during ...

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Image courtesy of "Fortune"

Crypto suffers worst crash since 2022 as Bitcoin struggles to hold ... (Fortune)

Crypto prices are crashing amid a broader selloff. Fortune. Crypto prices are in free fall at a level not seen since 2022, when the collapse of major ...

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