Bitcoin breaches US$50,000 threshold with technicals back in focus bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Bitcoin breaches $US50,000 threshold with technicals back in focus
Vildana Hajric and Joanna Ossinger
Apr 24, 2021 – 5.58am
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Bitcoin headed for its worst week in almost two months as a proposed capital-gains tax increase for wealthy Americans intensified the volatility whiplashing the world’s largest cryptocurrency.
A fresh bout of selling on Friday (Saturday AEST) drove bitcoin down as much as 7.9 per cent to $US47,525 below its 100-day moving average as it continued to take out key technical levels.
Nearing 6am AEST on Saturday, bitcoin was trading at $US50,825 on bitstamp.net.
Bitcoin has been one of the best-performing assets in recent years anyone who bought a year ago is sitting on a nearly 550 per cent gain. For investors who bought in April 2019, it’s roughly 800 per cent.
Joanna Ossinger, Bloomberg News Signage for the digital yuan, also referred to as E-CNY, at a self check-out counter inside a supermarket in Shenzhen, China, on Friday, Nov. 20, 2020. The People s Bank of China is testing its digital money dubbed Digital Currency Electronic Payment, or DCEP in select cities, catapulting the worldâs No. 2 economy to the forefront of a race to develop virtual money. Photographer: Yan Cong/Bloomberg , Bloomberg
(Bloomberg) Trouble may be brewing in China for Bitcoinâs raucous and divisive rally as the nation pushes ahead with a world-leading effort to create a digital version of its currency.
China s Plan for Digital Yuan Imperils Bitcoin s Biggest Markets bloombergquint.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bloombergquint.com Daily Mail and Mail on Sunday newspapers.