Crypto Currency

Bitcoin Drops Below $40,000 Mark After 3 Months As Elon Musk-Fueled Crypto Selloff Deepens

Bitcoin (BTC) traded below the psychologically important $40,000 mark after three months in the early hours of Wednesday as the cryptocurrency sell-off fueled by Tesla Inc (NASDAQ:TSLA) CEO Elon Musk’s remarks last week deepened.

What Happened: The apex cryptocurrency by market cap traded 13.73% lower at $39,284.33 at press time on a 24-hour basis and has declined 31.63% on a seven-day trailing basis. BTC touched an intra-day low of $39,034.08.

See also: How to Buy Bitcoin (BTC)

From its all-time high of $64,863.10, which it charted a month ago. BTC has fallen 39.13% as of press time.

Similarly, Ethereum (ETH),

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Bitcoin (BTC) price plunges below $40,000, but bottom could be near

In this photo illustration, a visual representation of the digital Cryptocurrency, Bitcoin is on display in front of the Bitcoin course’s graph on February 09, 2021 in Paris, France.

Chesnot | Getty Images

Bitcoin fell sharply on Tuesday continuing a major sell-off that began a week ago.

The digital currency fell over 13% to hit an intraday low of $38,585.86 at around 12:54 a.m. ET, according to CoinDesk data. It was the lowest level since Feb. 9, the last time it dropped below $40,000.

Negative news over the past week has dampened sentiment for bitcoin.

On May 12, Tesla CEO

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How to Farm Chia Coin, the New Storage-Based Cryptocurrency

The new Chia cryptocurrency has already started making waves in the storage industry, as we’ve reported back in April. With Chia trading now live, it looks set to become even more interesting in the coming months. The total netspace for Chia has already eclipsed 2 exabytes, and it’s well on its way to double- and probably even triple-digit EiB levels if current trends continue. If you’re looking to join the latest crypto-bandwagon, here’s how to get started farming Chia coin.

First, if you’ve dabbled in other cryptocurrencies before, Chia is a very different beast. Some of the fundamental

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Is Polkadot the next star cryptocurrency? Why altcoins beat Bitcoin in 2021 – Greg King

Polkadot has risent more than 1,200% since trading began in September, 2020, and it now the eight largest altcoin by market capitalization.

Greg King, CEO and founder of Osprey Funds, recently launched the Osprey Polkadot Trust, a fund based on the Polkadot coin for private placement.

Speaking to David Lin, anchor for Kitco, King said that one of the reasons for Polkadot’s dramatic rise in value is due to “alt season,” a time when altcoins outperform the larger cryptocurrencies, like Bitcoin, during a bull rally.

Disclaimer: The views expressed

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Crypto investors risk losing all their money

Bank of England Governor Andrew Bailey.

Simon Dawson | Bloomberg via Getty Images

LONDON — Cryptocurrencies “have no intrinsic value” and people who invest in them should be prepared to lose all their money, Bank of England Governor Andrew Bailey said.

Digital currencies like bitcoin, ether and even dogecoin have been on a tear this year, reminding some investors of the 2017 crypto bubble in which bitcoin blasted toward $20,000, only to sink as low as $3,122 a year later.

Asked at a press conference Thursday about the rising value of cryptocurrencies, Bailey said: “They have no intrinsic value. That

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Mysterious death of the CEO of Canada’s largest cryptocurrency firm explored in documentary

Is Gerald Cotten, the late CEO of Canada’s largest cryptocurrency exchange QuadrigaCX really dead? 

That’s just one of the questions explored in the documentary Dead Man’s Switch a crypto mystery (part of the 2021 Hot Docs festival), which takes you on a deep, but explanatory, dive into the mysterious death that left $215 million dollars in cash and cryptocurrency missing.

Back in 2018, 30-year-old Cotten took a trip to India with his now widow Jennifer Robertson for their honeymoon and to open an orphanage. Nine days later Cotten is believed to have died due to complications of Crohn’s disease,

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10 Best Cryptocurrencies To Invest in for 2021

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Cryptocurrency is digital money that isn’t managed by a central system like a government. Instead, it’s based on blockchain technology, with Bitcoin being the most popular one. As digital money continues to gain traction on Wall Street, more and more options become available. There are currently more than 5,000 cryptocurrencies on the market.

While you can use cryptocurrency to make purchases, most people treat it as a long-term investment. However, investing in cryptocurrency can be risky if you don’t know where to begin. These are the top 10 cryptocurrencies that are most worthy of investment in 2021.

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Winklevoss’ crypto exchange Gemini offers 2.25% interest

Cameron Winklevoss, left, and Tyler Winklevoss 

David Paul Morris | Bloomberg | Getty Images

Gemini, the cryptocurrency exchange founded by Tyler and Cameron Winklevoss, is going all in on dogecoin.

Starting Sunday, the Gemini app will let clients move their holdings in dogecoin into interest-bearing accounts through its Gemini Earn service.

The company says it will offer a rate of 2.25 percent APY (annual percentage yield) on a customer’s idle dogecoin balances.

Interest is earned and compounded daily, and customers can redeem their crypto at any time. There are also no minimum balances and no fees to transfer into or

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Ethereum cryptocurrency passes $4,000 for the first time

On May 5, 2020, one Ether token was worth $186. One year later, on Sunday night, the cryptocurrency hit $4,000 for the first time, a rise of over 2,100%. Though Dogecoin is sucking up most of the world’s cryptocurrency attention, it’s been a huge May for Ethereum already, as Sunday’s milestone comes just a week since the cryptocurrency hit $3,000 for the first time. 

a close up of a logo: Cryptocurrency has captured the attention of more investors this year. Getty Images

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Cryptocurrency has captured the attention of more investors this year. Getty Images

Ether is a cryptocurrency minted on the Ethereum blockhain. Bitcoin, the most known currency, is built on its own, separate

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As Scrutiny of Cryptocurrency Grows, the Industry Turns to K Street

The board of advisers at the digital chamber is stuffed with former federal regulators, including a former member of Congress and a recent chairman of the Commodity Futures Trading Commission, J. Christopher Giancarlo, who was named to the board of BlockFi, a financial services company that tries to link cryptocurrencies with traditional wealth managers.

Max Baucus, the Democratic former chairman of the Senate Finance Committee, and Jim Messina, a former top Obama adviser, also have recently been named to senior industry posts.

Lobbying disclosure records show that at least 65 contracts as of early 2021 addressed industry matters

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