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Cory Klippsten is a big fan of Bitcoin. But his affinity for cryptocurrencies ends there. Klippsten, head of a company called Swan Bitcoin, sees a growing minefield of scams, fraud, and risky products throughout the industry. As the market retreats, he sounds embarrassed to be associated with it. “I’m a Bitcoiner who believes Bitcoin is … Read More “Crypto Took Wall Street on a Wild Ride. Now It’s Ending in Tears.” »
Text size The prices of cryptocurrencies like Bitcoin and Ether have plummeted this year. Dusan Zidar/Dreamstime Between a collapse in prices, layoffs, and high-profile defaults, the winds of the next so-called cryptocurrency winter are blowing for Bitcoin and other digital assets. Bitcoin was trading near $20,200 late on Wednesday afternoon, down by more than two-thirds … Read More “A Crypto Winter Is Setting In. Why the Outlook Is Different This Time.” »
Miners spend an average of $15,000 to produce each coin, JPMorgan estimates. Dreamstime Text size The plummeting price of Bitcoin could force crypto miners to sell the tokens to fund operations, further pressuring the digital currency. In good times, crypto mining firms and Bitcoin’s price are locked in a virtuous cycle. The miners own giant … Read More “Bitcoin Prices Could Fall Further as Crypto Miners Struggle” »
Text size Shares in Coinbase have collapsed in 2022 amid a crypto trading slowdown. Tiffany Hagler-Geard/Bloomberg Shares in cryptocurrency exchange Coinbase Global tumbled on Monday after Goldman Sachs downgraded the stock to Sell from Neutral, citing the likelihood that revenue declines will accelerate in the second half of the year. Goldman slashed its price target … Read More “Coinbase Tumbles as the Bear Case Builds. Goldman Sachs Says Sell the Stock.” »
Text size Bitcoin is trading at less than one-third its all-time high from November 2021. Dreamstime Bitcoin and other cryptocurrencies were steadying on Monday, holding firmly above the depths reached amid a deep selloff over the past two weeks but still under pressure. The price of Bitcoin was trading just above flat over the past … Read More “Bitcoin ‘Remains in the Danger Zone’ as Cryptos Steady. Where It Could Go Next.” »
Elias Stein Text size Jersey and Florida are hot. Austin and Seattle are not. On Tuesday, home builder Lennar ’s co-CEO Richard Beckwitt on an earnings call provided a tour of U.S. housing markets. “So far in June, new orders, traffic, sales incentives, and cancellations have worsened in many of our markets due to a … Read More “Best and Worst Spots in the U.S. Housing Market, According to Lennar” »
Text size The Bitcoin Strategy ETF topped $1 billion in assets within two days. Dreamstime Investors will soon have a new tool for betting against Bitcoin, but they better make sure they are prepared for the risks. ProShares said it will launch on Tuesday a short-Bitcoin futures exchange-traded fund, called Short Bitcoin Strategy. The ETF, … Read More “There’s a New Way to Bet Bitcoin Will Fall. Be Careful.” »
Text size Bitcoin traded up on Monday after a week of steep losses. Dan Kitwood/Getty Images Bitcoin, the biggest and oldest cryptocurrency, traded at around the psychologically important level of $20,000 on Monday after falling more than 20% over the past seven days. The digital currency was up 8% in the previous 24 hours to … Read More “Bitcoin Teeters Around $20,000 Amid a Volatile Crypto Winter Storm” »
Text size Bitcoin prices have been crashing and could fall even further. Courtesy Ethan Lou The Bitcoin carnage continues, as the cryptocurrency breaks $20,000 to trade at its lowest level since 2020. Don’t be surprised if $10,000 is the next stop. Bitcoin has dropped 7.2% to $19,027.52 during the past 24 hours, bringing it to … Read More “Bitcoin Just Crashed Below $20,000. Where It Might Be Headed Next.” »
Text size Crypto prices have suffered severe declines in recent days, outpacing the selloff in stocks. Dusan Zidar/Dreamstime The persistent slide in prices of Bitcoin and other cryptocurrencies continued on Wednesday as digital assets took another precipitous leg downward ahead of a key interest rates decision from the Federal Reserve. Bitcoin has shed 10% over … Read More “Bitcoin Plunges to Near $20,000. The Fed Has the Attention of the Crypto World.” »
