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Bitcoin news – live: BTC price closes in on all-time high as meme coin suddenly surges 1,000% – Yahoo News

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Bitcoin returned above $50,000 this week for the first time since early September, following a market-wide resurgence.
The cryptocurrency reached above $55,000 on Wednesday, with the latest price gains coming after bitcoin briefly fell below $30,000 at the end of July. Bitcoin is now less than $10,000 away from the all-time price high it experienced in mid April.
Other leading cryptocurrencies have mirrored bitcoin’s fortunes in recent weeks, with Ethereum (ether), Binance Coin and dogecoin all rising by between 15-30 per cent since this time last week.
The overall crypto market is now valued at nearly $2.2 trillion – up more than 15 per cent since the start of October.
After a poor September, some analysts are predicting a strong end to 2021. One price prediction model, which proved remarkably accurate in August and September, puts bitcoin on track to hit six figures before Christmas, though there are some caveats.
We’ll have all the latest news, analysis and expert price predictions right here.
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14:57 , Anthony Cuthbertson
While the majority of the crypto market settles after a bubbly few days, one meme coin has bucked all trends to shoot up 1,000 per cent over the last 24 hours.
Baby Shiba Inu has risen from $0.0000000026 to above $0.000000029, ranking it among the top 3,000 cryptocurrencies on CoinMarketCap’s index.
While the gains are only of a fraction of a per cent of a US cent for the dogecoin-inspired cryptocurrency, it is still a remarkable rise for what is essentially a joke of a joke. One reason for the sudden burst could be Elon Musk’s new Shiba Inu puppy, which he has been tweeting about this week.
12:34 , Anthony Cuthbertson
The hedge fund of billionaire investor George Soros has revealed that it owns bitcoin.
The revelation comes amid a major uptick in cryptocurrency from institutional investors in 2021, which has helped push bitcoin’s price up and solidify support to prevent it falling too far when its value drops.
“We own some coins – not a lot. The coins themselves are less interesting than the use cases of DeFi and things like that,” said Soros Fund Management CEO Dawn Fitzpatrick.
“I’m not sure bitcoin is only viewed as an inflation hedge here. I think it’s crossed the chasm to mainstream.”
07:41 , Anthony Cuthbertson
The president of El Salvador has revealed that people in the Central American country are now buying more bitcoin than they are withdrawing.
It’s been roughly one month since El Salvador became the first country in the world to adopt bitcoin as legal tender, and the $30 of cryptocurrency each citizen was given through the Chivo wallet app at the time is now up around 10 per cent.
President Nayib Bukele has faced criticism from political opposition for the bold move, though the recent price surge appears to have quietened critics thanks to the wealth it has at least temporarily generated for Salvadorans.
Since yesterday, Salvadorans are inserting more cash (to buy #bitcoin) than what they are withdrawing from the @chivowallet ATMs.

And if we add remittances (almost $2 million per day), the incoming USD QUADRUPLES the outflow.

This is very surprising so early in the game.
— Nayib Bukele 🇸🇻 (@nayibbukele) October 7, 2021
07:30 , Anthony Cuthbertson
The price of bitcoin has steadied at just under $55,000 on Thursday morning, consolidating the massive gains made on Tuesday and Wednesday.
The cryptocurrency is now less than $10,000 away from it’s all-time high, and if it sees the same gains over the next seven days as it did during the last week, then it will smash past its record.
Not all leading cryptocurrencies have seen gains over the last 24 hours, with Cardano (ada), Solana (SOL) and dogecoin all seeing slight dips in value.
Here’s a snapshot of the market this morning, courtesy of CoinMarketCap.
Wednesday 6 October 2021 18:37 , Anthony Cuthbertson
Bitcoin’s notoriously volatile price movements mean it can be difficult to pin any single rise or drop to a single event. There are usually multiple factors at play, which can then snowball into other forces that either push it even further on its trajectory or cause it to rebound in the opposite direction.
We’ve heard from several market experts and crypto analysts, all trying to make sense of the latest price rally. Reasons range from Facebook’s mass outage, to the impact of the pandemic. They also offer their thoughts on where bitcoin might go from here:
With interest rates going up and global markets facing uncertainty, current economic conditions are epitomizing why bitcoin was created. Bitcoin is increasingly resistant to turmoil in the traditional markets and imminent regulatory scrutiny.
The recent blackout on Instagram and Facebook also demonstrated the world’s unfortunate dependence on centralized systems – a testament to the popular adage that ‘bitcoin never goes down’. Our immense dependence on financial and technological systems underlain by faulty frameworks – whether that’s government money or traditional social networks – means that the fallibility of these systems will have increasingly dire consequences, underscoring the essence of why bitcoin, a fundamentally transparent, censorship-resistant and immutable currency, is unique – and how bitcoin adoption can transform our world.
Historically, we’ve seen bitcoin perform spectacularly in Q4 in past cycles. I’m pulling for a repeat performance.
Matt Senter, Co-founder and CTO of bitcoin rewards app, Lolli
Bitcoin crossing the US$55,000 mark today underlines a growing recognition that the world’s biggest cryptocurrency is the answer as the velocity of money keeps dropping while the astronomical levels of debt continue to rise. It is of course a matter of speculation if we will soon see a crash in stocks or property. What is certain is that money printing hasn’t made a substantial impact on the real economy. Rather it has contributed to the rich getting richer and the poor and middle classes getting poorer.
Meanwhile, digital assets are still in their nascent stages of development while bitcoin has only recently started to get wider recognition as a form of digital gold. Younger generations and millennials are intuitively seeing the value in investing in bitcoin and cryptocurrencies. Implicit in this is a recognition that these digital assets could counter harsh societal inequalities that have only been exacerbated during the pandemic.
Bitfinex Trading Team
Wednesday 6 October 2021 16:37 , Anthony Cuthbertson
Bitcoin is now up 10 per cent in just the last 24 hours. Yet even such a dramatic price surge appears relatively modest when put in context.
Here’s how the cryptocurrency’s price has changed when looking back even further:
1 day: +10%
1 week: +30%
1 year: +414%
5 years: +8,770%
10 years: +2,749,900%
Wednesday 6 October 2021 15:39 , Anthony Cuthbertson
After El Salvador became the first country in the world to adopt bitcoin as legal tender, people are wondering who might be next.
If recent murmurings south of the equator are to be taken seriously, the next country to take the plunge could be Brazil – the world’s 12th largest economy.
A cryptocurrency regulation bill is expected to be presented to the Plenary of the Chamber of Deputies this week, which if successful could allow Brazilians to buy everything from houses to groceries with bitcoin.
We’ve heard from Paolo Ardoino, the chief technology officer of the Bitfinex cryptocurrency exchange, about how significant such a move would be.
“The prospect of Brazil embracing bitcoin as legal tender would mark a monumental moment in adoption,” he said.
“There will still be hurdles to creating an infrastructure that functions in a fast and efficient way. As payment networks grow larger – in the case of Brazil it would be a country with a population of over 200 million people – enabling faster transactions among participating nodes becomes a major pain point. Most of the day-to-day use of bitcoin will need a second layer technology like the Lightning Network, a solution to solve the bitcoin scalability problem.”
Wednesday 6 October 2021 14:49 , Anthony Cuthbertson
Bitcoin is seeing another price spurt, rising above $55,000 for the first time since May. It is now less than $10,000 away from the all-time high it hit in mid April.
The price surge has taken its market cap above $1 trillion and provided a major boost to the overall crypto market.
Ethereum (ether) is now back above $3,500, while dogecoin is now closer to $0.30 than $0.20, having lingered below $0.25 for several weeks. Every single one of the top 10 most valuable cryptocurrencies are now in the green on both a 24 hour and seven day timeframe.
Wednesday 6 October 2021 11:03 , Anthony Cuthbertson
A key metric for estimating price movements is the supply of bitcoin held by long-term holders.
Of the 18.78 million bitcoins that currently exist, 13 million – or 69 per cent – of them are currently held by people who have held them for 12 months or longer.
“Tracking this metric is important as it clearly highlights times of tight supply, which are often highly correlated with significant future price appreciation,” Will Hamilton, head of trading and research at digital asset management firm TCM Capital, told The Independent.
“More and more investors are buying and holding, which should translate into higher prices. All things considered, we think Q4 will see some very significant moves to the upside for the market as a whole.”
Wednesday 6 October 2021 10:23 , Anthony Cuthbertson
Is bitcoin’s remarkable recovery the second leg of a bull run or just a “dead cat bounce” before plummeting once again?
This is the question currently dividing crypto market analysts, with adherents to the first theory believing bitcoin is set to hit new all-time highs within the next couple of months. Those most optimistic see bitcoin hitting six figures before Christmas.
One analysts has drawn comparisons to similar market patterns seen in 2017, when bitcoin quadrupled in price between early October and December.
Incredible to think how much time we've spent analyzing short-term #Bitcoin price action since June, when all we needed to do was copy-paste 2017. pic.twitter.com/wtXma7tosU
— TechDev (@TechDev_52) October 6, 2021
Others have pointed to a likeness to the descent from the dotcom bubble bursting in the early 200s.
Looks familiar… #Bitcoin pic.twitter.com/2xwMpK5gme
— Mr. Whale (@CryptoWhale) October 6, 2021
The two diverging theories put bitcoin either at a fraction of its current price by 2022, or several multiples higher than it.
Should bitcoin rise another $14,000 over the coming weeks, the dead cat bounce theory will be disproved. However it will need to fall to well below $30,000 for the price rally theory to be dismissed.
Wednesday 6 October 2021 09:32 , Anthony Cuthbertson
The price of bitcoin has managed to hold above $50,000, reaching as high as $51,839 on Wednesday morning, according to CoinMarketCap’s price index.
It’s now up more than 20 per cent week-on-week, while bitcoin’s market cap is steadily closing in on $1 trillion. The last time it was above this landmark was way back in May.
Bitcoin’s resurgence may have boosted the likes of Ethereum (ether) and dogecoin, but not all leading cryptocurrencies have seen a price rise overnight. Solana (SOL) fell by nearly 10 per cent, dropping it back below Ripple (XRP) in terms of overall market cap.
Tuesday 5 October 2021 13:06 , Anthony Cuthbertson
Bitcoin’s latest price surge has pushed its market cap above Facebook’s.
During its record-breaking price rally earlier this year, bitcoin briefly rivalled the market value of silver, while the overall crypto market surpassed the entire worth of Apple, the world’s most valuable company.
It’s still a long, long way from gold, which has a market cap more than 10-times that of bitcoin’s. Some high-profile investors, such as Tim Draper, believe bitcoin could eventually reach these heights, meaning a single bitcoin would be worth more than half a million dollars.
Tuesday 5 October 2021 12:46 , Anthony Cuthbertson
After a day of steadily climbing in price, bitcoin has finally risen above $50,000. It is the first time the cryptocurrency has peaked above this milestone since early September, and means bitcoin is now up more than 18 per cent since the start of October.
We’ve heard from some experts and analysts, who offer their thoughts on what’s behind this latest price surge, as well as speculate on where it might go from here.
You can read the full story here.
Bitcoin price breaks $50k, surpassing Facebook’s market value
Tuesday 5 October 2021 12:30 , Anthony Cuthbertson
to The Independent’s live coverage of the crypto market. We’ll be bringing you all the latest news, updates and analysis from bitcoin, Ethereum (ether) and the rest of the cryptocurrency space.
He wanted TikTok to witness "what she had done to him" — and now, millions are cracking up.
Three college swimmers who were beaten by transgender athlete Lia Thomas posed together on a single podium step, fuelling the controversy over her eligibility to compete in elite women's competitions.
Julia Fox stepped out in cut off denim jeans and a bra top with a matching denim bag which might be her wildest look yet.
We finally have our first James Webb image. At least, the first in-focus image that James Webb Space Telescope has produced. NASA released the image on March 16, 2022, and shared that all critical mirror alignment steps have been completed. The first James Webb image is breathtaking The James Webb reached its destination orbit in … The post NASA’s Webb telescope just captured this stunning image of a distant galaxy appeared first on BGR.
Many Americans are surprised to see they have not prepared as well as they had hoped for retirement when they finally get ready to call it quits. The bad news is, you’ll probably have to make some realistic assumptions of what your retirement will look like. If you’ve lived primarily paycheck to paycheck in your working years, that may continue to feel the case in your retirement.
'Wheel of Fortune' host Pat Sajak ran off the game show stage after his cohost Vanna White made an unexpected confession related to dumplings.
Dua Lipa sported extremely low-rise pants and a red bodysuit in a jaw-dropping new Instagram photo.
The family of the 13-year-old who was driving a pickup truck in a Texas crash that killed nine, including New Mexico college golfers, “lost everything” in a fire late last year, according to a local pastor.
Kanye West has said he “can afford to hurt” comedian D.L. Hughley, and now Steve Harvey has issued a warning telling Yeezy to leave his friend alone.
The bill passed 424-8 and allows President Biden to increase tariffs on products coming from the two countries amid the Russian invasion of Ukraine.
The thing she has "never seen" is right out where everyone can see it.
The Wildcats coach talked about the upset, how he felt about this team, UK fans, and more after the season-ending defeat.
Alexandra Daddario, 36, showed off her ultra-toned arms and legs while wearing a mini dress on IG. To stay fit, Alexandra does hot yoga and AMRAP workouts.
The jailed porn star will undergo psychiatric evaluation to determine "competency" after he allegedly failed to recognize his lawyer ahead of a court hearing Thursday
It was a "spectacle" that left people "pondering the depths to which Trump had sunk in his pandering to Putin," the former Ukraine ambassador writes.
Alexandra Tolstoy got a front-row look at Putin's Russia for eight years while she was with a Russian oligarch once known as Putin's banker.
"She hasn't aged a day in the last decade."
Western officials said that "because things are going badly" in the invasion of Ukraine, top officers are taking risks that end in their deaths.
It was clear from the get go that Joel Levinson wasn’t the average ‘Jeopardy!’ contestant.
The accompanying footage, showing a mother zebra rushing to the rescue of her foal under attack by a female lion, might be difficult for some to watch.

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Cryptocurrency prices today under pressure: Bitcoin falls 3%, ether 6%; Uniswap gains | Mint – Mint

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  • The global cryptocurrency market cap today remained below the $1 trillion mark

Cryptocurrency prices today came under pressure after the US Federal Reserve delivered another big interest-rate hike and warned of economic pain from the aggressive policy tightening still to come. The Fed’s determination to raise rates to levels that hammer inflation at the cost of sliding asset prices sent a chill across global markets.
Bitcoin, the world’s largest and most popular cryptocurrency, was trading more than 2% lower at $18,627, came close to dropping below $18,000 level. The global crypto market cap today remained below the $1 trillion mark, as it was down over 2% in the last 24 hours at $943 billion, as per CoinGecko. On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, continued to underperform and fell more than 6% at $1,260.
“Bitcoin, Ethereum, and most cryptocurrencies traded lower on late Wednesday after the Federal Reserve raised interest rates by 75 basis points marking the third consecutive time this year. BTC continues to struggle below the $19,000 since bears are more powerful than bulls in the market. The second largest crypto, Ethereum was seen changing hands above the $1,200 level. The price of ETH has been dipping since the Merge took place as miners continued to dump their ETH in the market coupled with macroeconomic factors. If the selling pressure from miners increases, ETH is likely to fall below the $1,000 level,” said Edul Patel, CEO and Co-founder of Mudrex.
Meanwhile, dogecoin price today was also trading about 3% lower at $0.05 whereas Shiba Inu slipped more than a per cent to $0.000011. Other crypto prices’ today performance also declined as XRP, Stellar, Solana, Polygon, Avalanche, Binance USD, Polkadot, Litecoin, Apecoin, Cardano, Chainlink, Tron, Tether prices were trading with cuts over the last 24 hours, whereas Uniswap gained.
Such a backdrop offers little respite for crypto markets. They were already reeling from a $2 trillion plunge from a 2021 record high, an unraveling pockmarked with blowups such as the Three Arrows Capital hedge fund and the Terraform Labs project — whose co-founder Do Kwon is wanted by authorities.
(With inputs from agencies)
 
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Bitcoin's Accumulated Momentum Is Going To Be Hard To Stop – Bitcoin Magazine

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While "the smartest people in the room" scan the horizon, bitcoiners are out there actually building the future they want to live in.
The below is a direct excerpt of Marty's Bent Issue #1259: "Bitcoin is action. The accumulated momentum is going to be hard to stop." Sign up for the newsletter here.
This morning I listened to a recent Macro Voices podcast with Brent Johnson from Santiago Capital. It was a very good conversation about the state of the global economy, particularly focused on the dollar's relative strength against other currencies and how things may play out as the dollar continues to strengthen as prophesied by the "Dollar Milkshake" theory. Here's a link to the episode for those interested.
Toward the end of their discussion Erik (the host) and Brent make it clear without saying anything explicitly that it is insane that global markets are essentially beholden to the whims of a very select few people, central bankers, out of the billions who are alive on this planet. The fact that the world hinges on the cryptic language of people who are completely disconnected from reality and do not suffer the consequences of their actions is a bit baffling. With that being said, what I'd like to focus on is the fact the Erik and Brent ended their conversation with a brief detour to discuss the next world reserve currency. Both gentlemen acknowledged that it would likely be a cryptocurrency – likely produced by one of the governments or a coalition of governments – and will certainly not be bitcoin.
To your Uncle Marty, this is an incredibly hilarious line of thinking from a couple of individuals who seem to "get it" in regards to the fact that the fiat system is doomed for failure and it's failure is being driven by incompetent central planners. To think that the solution to bad central planning from an incompetent group will be better central planning from the same group via a fresh slate a CBDC or something like it would provide. Even funnier is the fact that they emphatically proclaim that bitcoin most certainly will not become the dominant money in the world while deriding "bitcoin maximalists". This is our edge, freaks.
While "the smartest people in the room" scan the horizon waiting to place their bets on something that hasn't materialized yet and is sure to end in failure if it ever does because it will suffer from the same centralized attributes that doomed the dollar, bitcoiners are out there actually building the future they want to live in. The macro mensches of the world can continue to sit on the sideline and pontificate about what they think will come to market. Bitcoiners will continue to act and bring their distributed, censorship resistant, sound money to market. And the headstart bitcoin has amassed is approaching insurmountable. It is a step-function improvement on the incumbent monetary system in every way.
It's provably scarce and extremely hard to change.
You can send it over the internet.
You can divide more granularly.
It is extremely hard to prevent someone from receiving or sending bitcoin if used correctly.
And, what might be the most underappreciated aspect, it is beginning to become an integral part of the energy sector. And as we're finding out now energy is pretty damn important. Arguably the most important asset on the planet. Bitcoin becoming an essential for energy producers makes it significantly harder to kill from a logistical and political perspective.
We are so early.

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Boba Network Partners With Avalanche, Boba AVAX L2 to Provide 'Faster Transactions and Lower Fees' – Blockchain Bitcoin News – Bitcoin News

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by Jamie Redman
On Wednesday, the layer two scaling solution that leverages optimistic rollup technology, Boba Network has revealed it now supports the proof-of-stake (PoS) network Avalanche. According to the Boba Network team, the new Avalanche support will produce “faster transactions and lower fees.”
Boba Network, the layer two (L2) scaling project introduced Boba AVAX L2 on Wednesday via the team’s Twitter account. “We’re over the slopes to announce our partnership as an official scaling solution for Avalanche,” Boba said. “Avalanche offers blazing fast speeds, low costs, and eco-friendly solutions: Boba AVAX L2 holds true to those values and enhances it further.”
Boba is already connected with the Ethereum (ETH) network and at the time of writing, l2fees.info stats show Boba’s fee to move ether today is $0.17, and to swap tokens the estimated price is $0.30. That is cheaper than the current 34 gwei ($0.96) to send ether onchain, according to etherscan.io’s gas tracking tool. A high-priority decentralized exchange (dex) swap can cost $8.47 per transaction onchain, so Boba’s $0.30 cost to swap, is 96.45% cheaper.
“Faster transactions, lower fees: Boba AVAX L2 is catered for all heavy transactions, throughput-reliant protocols [and] anyone wanting to be part of the next generation,” Boba further declared on Wednesday. The team further explained it is joining partner decentralized applications (dapps) like Sushiswap and Evoverses with the new support. Boba added:
While Sushi will be deploying their Legacy Swap on Boba AVAX L2, Evoverses’ will be joining with their 3D PvP gameplay, powered by the Unreal Engine 5 [and] Hybrid Compute to help the game scale and reach its full potential.
L2 projects like Boba Network have been partnering with a great deal of industry heavyweights and blockchain networks in recent times. Opensea recently detailed the leading NFT marketplace has added Arbitrum support and the NFT market competitor Rarible revealed Immutable X support. Arbitrum, Immutable X, and Boba Network are all L2 projects and other competitors include Loopring, Zksync, Optimism, Metis, Polygon Hermez, and Aztec.
What do you think about Boba Network adding Avalanche support? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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