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Bitcoin slips below $38,000 as it struggles to retrace losses despite efforts from Musk and Saylor to buoy confidence

Bitcoin slips below $38,000 as it struggles to retrace losses despite efforts from Musk and Saylor to buoy confidence
[email protected] (Isabelle Lee)
Bitcoin struggled to hold onto Monday gains, slipping back below the $38,000-level Tuesday.
The cryptocurrency fell despite Elon Musk tweeting that he d had discussions with bitcoin miners on Monday about energy efficiency.
Bitcoin was trading at $37,088 as of 9:17 a.m. ET Tuesday.
Bitcoin struggled to hold ontop gains made on Monday, slipping back below the $38,000-level Tuesday despite tweets Tesla chief Elon Musk about having discussions with bitcoin miners on ways to lessen the cryptocurrency s environmental impact. ....

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Mike Novogratz compared this bitcoin crash to late 2017, when the market plunged into a 'winter' lasting years

Mike Novogratz compared this bitcoin crash to late 2017, when the market plunged into a winter lasting years
[email protected] (Harry Robertson)
© John Lamparski/Getty Images
Mike Novogratz is one of the most high-profile bitcoin and crypto investors. John Lamparski/Getty Images
Crypto billionaire Mike Novogratz compared the current state of the crypto market to late 2017.
At the time, bitcoin plunged into a winter lasting years as buyers lost interest following a rally.
Novogratz said the proliferation of other coins was overwhelming the crypto market.
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Novogratz said that the widespread creation and adoption of alternative cryptocurrencies was overwhelming the market and meaning investors cash was spread too thin. Investors have recently pumped up bitcoin alternatives like ether, XRP and dogecoin, and turned to new creations like safemoon. ....

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Bitcoin traders are piling into bets that the price will drop below $40,000 by next month

Bitcoin traders are piling into bets that the price will drop below $40,000 by next month
Bitcoin traders are piling into bets that the price will drop below $40,000 by next month
Harry RobertsonMay 19, 2021, 01:31 IST
Bitcoin has tumbled in recent days after criticism from Elon Musk.Dado Ruvic/Getty Images
Bitcoin traders are increasingly betting the price will fall below $40,000 by June.
Elon Musk s move to halt
Tesla payments in bitcoin has caused the cryptocurrency to tumble.
One crypto exchange boss said he had seen little sign of people buying the dip this time around.
Bitcoin
options traders have piled into bets that the world s biggest cryptocurrency will fall below $40,000 by next month following an Elon Musk tweet-storm that sent the price tumbling to around $45,000 on Tuesday. ....

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Coinbase Stock Keeps Falling – Is it a Sell Signal for Bitcoin?

Coinbase Stock Keeps Falling – Is it a Sell Signal for Bitcoin?
Last Updated: 18 May 2021
Despite what was a strong earnings performance for crypto exchange Coinbase (COIN) in its first report as a publicly-traded company, the stock hasn’t stopped falling since its direct listing.
In its Q1 2021 earnings report, the Bitcoin exchange revealed a total revenue of $1.8 billion, compared with $585 million in Q4 2020. In addition, Coinbase reported that its total trading volume stood at $335 billion, with institutional investors trading the most, at $215 billion. Retail investors contributed $120 billion in the first three months of the year.
Bitcoin is a Double-Edged Sword for Coinbase ....

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Is Bitcoin 'Melting' Or Has It Reached A Price Floor?

Is Bitcoin 'Melting' Or Has It Reached A Price Floor?
forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.

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