Skip to content

Tengruipharm

Just another WordPress site

  • npressfetimg-39293.png
    The RealReal Appoints E-Commerce and Digital Executive John E. Koryl as CEO and Board Member – Yahoo Finance E-commerce
  • Local Event: Free Self Development Series “Busy but Easy Life with … – Patch Self-development
  • npressfetimg-2423.png
    Hochul’s $227B budget helps NYC transit, migrant response – Berkshire Eagle Budget lifestyle
  • npressfetimg-30944.png
    Oro, an open source B2B e-commerce platform from Magento’s co-founder, raises $13M – TechCrunch E-commerce
  • npressfetimg-44186.png
    Why 2023 is your year to quit smoking | Health Smart – WPMT FOX 43 Quit smoking
  • npressfetimg-9751.png
    For Landlords, Rising Housing Costs Make It Harder to Earn Passive Income – The Wall Street Journal Passive income
  • npressfetimg-4358.png
    Budget Bytes’ six principles for saving on food – ABC15 Arizona in Phoenix Budget lifestyle
  • npressfetimg-48117.png
    Affiliate Marketing Compliance: 4 Things You Need To Know – Forbes Affiliate Marketing
npressfetimg-423.png

Bitcoin climbs back above $58,000 as cryptocurrencies rebound from sell-off – CNBC

Posted on December 13, 2021 By Cryptocurrency No Comments on Bitcoin climbs back above $58,000 as cryptocurrencies rebound from sell-off – CNBC

The value of Bitcoin (BTC) has exceeded the threshold of 66,895 dollars for the first time in his history.

Chesnot | Getty Images

Bitcoin and other cryptocurrencies surged Monday after a sharp sell-off at the end of last week.

The price of bitcoin climbed back above $58,000, rising 5.8% to $58,136.63, according to Coin Metrics data.

Other digital assets also rose, with ether jumping nearly 7% to $4,419.63 and XRP up 6% at around 99 cents.

Vijay Ayyar, head of Asia Pacific at cryptocurrency exchange Luno, said early reports that the new, heavily-mutated omicron Covid variant came with milder symptoms was giving the market a boost.

“We’re seeing news of the variant being potentially weaker in terms of symptoms in early analysis, which has bolstered the market comeback,” Ayyar said via email. “Hence, smart investors have probably bought this dip.”

Bitcoin last week sank as low as $53,549, its lowest level since early October, amid a broader sell-off in stocks and other riskier assets on the back of fears over the new coronavirus variant.

The world’s largest digital currency was briefly down more than 20% from its recent all-time high of nearly $69,000, officially entering bear market territory. Bear markets are typically defined by a decline of 20% of more from recent highs.

The new Covid variant, first identified in South Africa, has spread to multiple countries including the U.K., Germany and Italy.

The U.S., U.K. and other nations have restricted travel with some African countries in response. Britain has also introduced new measures to tackle the new virus mutation, including mandatory mask wearing in shops and public transport in England.

On Sunday, Dr. Angelique Coetzee, the South African doctor who first spotted the omicron variant, described its symptoms as “extremely mild,” soothing fears of a potential return of lockdown restrictions during the holidays.

“The global environment did add to the uncertainty across all risk asset classes as we saw last week, but the bounce back always shows us how strong the uptrend is, which is what we’re seeing here,” Ayyar said.

If bitcoin loses $48,000 to $50,000 on a daily or weekly basis, “that would definitely imply bearishness,” he added. But for now, Ayyar says “we’re still in bull market territory.”

Source: https://www.cnbc.com/2021/11/29/cryptocurrency-bitcoin-btc-climbs-back-above-57000-after-sell-off.html

Cryptocurrency Tags:RSS Feeds

Post navigation

Previous Post: Stock Market Today: Dow Fell From Highs, Target and Visa Shares Tumbled – Barron’s
Next Post: Infrastructure bill’s crypto tax provisions to be signed into law—and 5 other crypto updates you should know – CNBC

Related Posts

  • npressfetimg-12789.png
    Twitter now displays stock and cryptocurrency prices directly in search results – TechCrunch Cryptocurrency
  • npressfetimg-1813.png
    New York financial regulator issues cryptocurrency guidance for banks – Reuters Cryptocurrency
  • npressfetimg-1347.png
    Global Cryptocurrency Trade Volumes Saw a Significant Decline in December 2022 – Market Updates Bitcoin News – Bitcoin News Cryptocurrency
  • npressfetimg-50625.png
    South Korea to deploy cryptocurrency tracking system in 2023 – Cointelegraph Cryptocurrency
  • npressfetimg-5462.png
    Coinbase Faces Huge Fine Over Ignoring a Key Flaw – TheStreet Cryptocurrency
  • npressfetimg-3627.png
    Crypto hacks stole record $3.8 billion in 2022, led by North Korea groups – report – Reuters Cryptocurrency

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Archives

  • February 2023
  • January 2023
  • December 2022
  • January 2022
  • December 2021

Categories

  • Advertise online
  • Affiliate Marketing
  • Bad habits
  • Budget lifestyle
  • Celebrities
  • Content marketing
  • Cryptocurrency
  • E-commerce
  • Fashion clothing
  • Financial independence
  • Graphic design
  • Haircare
  • Healthy habits
  • Housing market
  • Investments
  • Makeup
  • Motivation
  • Nail stylist
  • Passive income
  • Personal finances
  • Personal style
  • Quit smoking
  • Retire
  • Self-development
  • Stock market
  • Stop drinking
  • Tattoos
  • Time management
  • Watches
  • Youtube Marketing

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

Recent Posts

  • 4 side hustles for Gen Z that can bring in hundreds or even thousands of dollars a month – CNBC
  • Earn Passive Income With This Side Hustle That’s Perfect for Introverts – Yahoo Finance
  • Extreme Saving Method Speeds Up Early Retirement Option – AARP
  • Demystifying the Concept of Financial Independence Through Free Education – Daily Scanner
  • Americans prefer to cling to cash after shaken by stock market volatility – Yahoo Finance

Recent Comments

    • Is the stock market open on Christmas? – Seeking Alpha Stock market
    • npressfetimg-14358.png
      According To A New Study, The “Emily In Paris” Lifestyle Costs A … – BuzzFeed Budget lifestyle
    • The Kardashians’ annual Christmas Eve party is extravagant and full of celebrities – Yahoo News Celebrities
    • npressfetimg-17889.png
      Bad habits that Americans have — and have given up – YouGov US Bad habits
    • npressfetimg-3601.png
      Your ‘Bad’ Winter Habits — Sleeping Late, Eating Sweets, Etc. — Have Surprising Health Benefits, Say Scientists – Yahoo Life Bad habits
    • npressfetimg-25267.png
      Take Charge Of Your Career: Develop Your Own Success Metrics – Forbes Self-development
    • The Best of Celebrities Celebrating Christmas in 2022 – Vulture Celebrities
    • npressfetimg-2969.png
      Abbey Yung: Haircare expert reveals three major mistakes you’re making when washing your hair – Daily Mail Haircare

    Copyright © 2023 Tengruipharm.

    Powered by PressBook News WordPress theme