Bitcoin is seeing some positive price movements after a stuttering start at the beginning of last week.
The cryptocurrency is up by over 9 per cent compared to its Friday morning values, pushing it back above $47,000.
Other major cryptocurrencies have also mirrored these movements, with both Ethereum (ether) and Ripple (XRP) seeing similar price gains over the last week.
The global crypto market has also risen above the $2 trillion mark since Friday but has not changed significantly in the last 24 hours.
The largest gains have come from Binance Coin and Solana, which have risen in value by over 15 per cent in the last week.
Coming to the end of the month, a price prediction model posted by the pseudonymous analyst PlanB back in June once again appears to be coming true. The model predicted bitcoin would be worth $43,000 at the end of September.
You can follow all the latest news, updates and expert price predictions in our live blog right here.
Bitcoin has risen in value by over 9 per cent compared to its Friday morning price of around $43,500.
The cryptocurrency is currently valued at over $47,000 and is inching closer to the $48,000 mark. Other cryptocurrencies, including Etherum (eth), Solana (sol), and Ripple (XRP) have also risen in value, growing by over 10 per cent compared to their Friday values.
The crypto market has also surged above the $2 trillion mark and is showing signs of stabilising.
Values of cryptocurrencies over last 24 hours
(Coin Market Cap)
Vishwam Sankaran4 October 2021 04:32
Missouri mayor pledges $1,000 of bitcoin to residents
A US mayor has pledged $1,000 worth of bitcoin to the 1,500 residents of his town.
Jayson Stewart, who is the mayor of the aptly named Cool Valley, hopes the cryptocurrency can drive social change in his community.
“Bitcoin is fundamentally American,” he says. “It is the most American thing. Our government is built on freedom and personal liberty, and rights and self-sovereignty, and all of the things that bitcoin really is. I think it’s a natural marriage that bitcoin in America will thrive.”
You can read the full story here.
Anthony Cuthbertson30 September 2021 15:36
What will trigger second leg of bitcoin’s bull run?
Potential triggers include more countries following El Salvador’s lead, a major corporation like Apple or Google adopting bitcoin, and China U-turning on its recent cryptocurrency crackdown.
It often only needs one major piece of positive news to push the momentum on a sustained upward trajectory, as was seen earlier this year when Elon Musk announced Tesla’s $1.5 billion bitcoin investment.
Anthony Cuthbertson30 September 2021 07:59
El Salvador’s president Nayib Bukele has shared a video of what seems to be the country’s Bitcoin mining facility powered by electricity from a volcano.
Mr Bukele had announced in June, just hours after El Salvador became the first nation to authorise bitcoin as a legal tender, that the state-owned geothermal electric company would use geothermal energy from the country’s volcanoes for mining for the cryptocurrency.
Vishwam Sankaran29 September 2021 07:20
The prices of bitcoin and several other cryptocurrencies are still down compared to their values before Friday’s crash. However the price drop appears to be slowing down, and values marginally stabilising compared to the values of cryptocurrencies a day earlier.
Bitcoin is currently valued at about $42,000, down by about 2 per cent in the last 24 hours, compared to its value drop by about 4 per cent over the previous day.
The prices of Ethereum (eth), Dogecoin (doge) and Solana (sol) also appear to be marginally stabilising after continuing to drop since Friday. The global crypto market is valued at $1.85 trillion, and is down by about 2 per cent in the last 24 hours.
Vishwam Sankaran29 September 2021 04:19
Coinbase Global unveiled on Monday a new feature for its US users to deposit their paycheck directly into their accounts on the exchange.
The new feature – expected to be rolled out in a few weeks – would allow users to convert their paychecks into any of the more than a hundred cryptocurrencies with no transaction fees. “Stay in control of your money by depositing as little or as much of your paycheck as you want,” the company noted in a blog post.
The move is expected to address concerns among users that making frequent transfers was time-consuming, and would allow them to make investments and earn interest on their digital assets with greater speed and efficiency.
Vishwam Sankaran28 September 2021 10:51
The prices of several cryptocurrencies, including bitcoin, Ethereum, and Solana have slid down by over 3 to 5 per cent in the last 24 hours. The crypto market is down by over 4 per cent in the last 24 hours, currently valued at about $1.88 trillion. Experts say the current value drop is tied to China’s new blanket ban on all cryptocurrency trading and mining – the broadest yet by a major economy.
The latest move has barred overseas exchanges from providing services to mainland investors via the internet – a previously grey area.
Following the move, top global exchanges, including Huobi Global and Binance, have stopped new account registrations by mainland China customers.
The chart is still all red with no signs of recovery yet.
Vishwam Sankaran28 September 2021 04:46
The prices of several cryptocurrencies, including bitcoin and Ethereum have tumbled after China’s central bank said all crypto-related transactions are illegal in the country.
While the prices of many cryptocurrencies were stabilising early Friday, their values have plunged in the last two hours. You can read more about it here.
Vishwam Sankaran24 September 2021 11:36
China’s central bank has said all crypto-related transactions are illegal.
Amid the growing crackdown on cryptocurrency mining and transactions in the country, the latest statement is the most extreme intervention from the People’s Bank of China.
Vishwam Sankaran24 September 2021 11:04
Bitcoin appears to be stabilising after a surge following Twitter’s announcement that it is adding the ability to pay users with the cryptocurrency in the platform.
It has not risen to its pre-Monday levels of $47,000 yet. But the latest surge has put its value above $44,000, growing by about 2 per cent in the last 24 hours. Other cryptocurrencies, including Ethereum (eth) Solana (sol), Dogecoin (Doge) appear stable with their prices not changing much in the last 24 hours. The global crypto market has grown by about 1 per cent in the last 24 hours and is currently valued at $1.98 trillion.
Vishwam Sankaran24 September 2021 04:28
