Cryptocurrency news LIVE – ‘Wolf of All Streets’ trader Scott Melker says Bitcoin & other cryptos are ‘CRASHING today’

BITCOIN and other cryptocurrencies have had a rough start to the week — and one top investor has said they are ‘crashing’.

THE price of Bitcoin dramatically dropped more than 10 percent on Tuesday as El Salvador suffered problems in the rollout of the cryptocurrency as its legal tender.

Bitcoin’s value crashed suddenly from $52,500 to below $44,000 on Tuesday, according to CoinMarketCap.

The price has since recovered to just over $46,700 as of 11.30am EST.

The drop still wiped billions off people’s investments.

Ethereum (ether), Cardano (ada), and Binance Coin also suffered heavy drops in value.

On Wednesday, “Wolf of All Streets” podcast host and trader Scott Melker tweeted: “URGENT! BITCOIN & ALTS ARE CRASHING. WHAT’S NEXT?”

Read our cryptocurrency live blog for the latest news and updates…

  • WHAT IS TETHER? CONTINUED

    Tether claims to keep values steady by holding reserves in that currency in a bank.

    However,

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What August’s file breaking month for crypto flows implies for bitcoin

More than the past thirty day period, the crypto sector has seemed like a climbing tide for all cash — but data suggest development throughout the asset class hasn’t been equal.

Final 7 days, Bitcoin (BTC-USD) breached $50,000 for the next time in two months, extending a rally that place a grim promote-off that begun in Might more in the rear-look at mirror. Although notable for its volatility, gains in the the greatest cryptocurrency could have gotten shed in the swell of climbing rates across the entire asset course.

With a the greater part of decentralized finance and non-fungible token (NFT) trading taking place on the Ethereum (ETH-USD) blockchain, the second largest cryptocurrency by market place capitalization rose by a third from $2,700 to $3,900, a expansion amount 17 p.c increased than BTC.

And other blockchain-dependent currencies these kinds of as the 3rd maximum valued cryptocurrency, Cardano (ADA-USD) has a

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Bitcoin, Ethereum: 3 Elements Could Signify New Highs In Early September

This write-up was published solely for Investing.com 

  • Collapse in April and May perhaps
  • Consolidation and restoration
  • A transfer in the vicinity of the midpoints
  • A few components supporting cryptos in early September
  • Higher highs by the end of 2021

Around the past decades, the burgeoning cryptocurrency asset course has provided current market members with a wild and volatile ride. The ascent of in excess of the earlier 10 years has offered new that means to the phrase bull current market. , the 2nd-top cryptocurrency, has also been a bullish beast.

Cryptocurrencies reflect a libertarian philosophy that returns the energy of revenue from governments, central banking institutions, monetary authorities, supranational and personal fiscal establishments to individuals. Costs come only from bids and delivers in the current market.

Detractors argue they have no intrinsic value but supply utility for nefarious endeavors. Even so, the opposition’s criticism very likely will come from the

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Bitcoin And Cryptocurrencies Will Get Tougher Rules. What To Know : NPR

This illustration photograph taken on July 19 in Istanbul shows a physical banknote and coin imitations of the Bitcoin cryptocurrency. Regulators such as Securities and Exchange Commission Chairman Gary Gensler are promising tougher action for cryptocurrencies.

Ozan Kose/AFP via Getty Images


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Ozan Kose/AFP via Getty Images


This illustration photograph taken on July 19 in Istanbul shows a physical banknote and coin imitations of the Bitcoin cryptocurrency. Regulators such as Securities and Exchange Commission Chairman Gary Gensler are promising tougher action for cryptocurrencies.

Ozan Kose/AFP via Getty Images

For many people, cryptocurrencies like Bitcoin are part of an exciting and lucrative new financial frontier. But for the country’s top market watchdog, Gary Gensler, they seem “like the Wild West” – and he’s promising a crackdown.

The market for cryptocurrencies has ballooned. It is currently estimated to be worth about $2 trillion, thanks to the exploding popularity of

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Market Wrap: Bitcoin Slides as US Lawmakers Wrangle Over Crypto Tax Proposal

Bitcoin (BTC) was lower for a third straight day, slipping toward $44,000 after the largest cryptocurrency by market value reached a three-month high of nearly $46,800 earlier this week. 

“There just isn’t much of an appetite right now for bitcoin above $46,000, but you’re not seeing a massive sell-off either,” Matt Blom, head of trading at the digital-asset firm Eqonex, said Thursday in a Zoom interview. 

Prices for ether (ETH), the native cryptocurrency of the Ethereum blockchain and the second-biggest crypto overall by market cap, were also down, holding just above the $3,000 mark as of press time. 

“The crypto market is taking a breather after a week of positive price performance,” investment-research firm FundStrat wrote in an emailed note.    

Latest prices

  • S&P 500: 4460.8, +0.3%
  • Gold: $1753.5, +0.15%
  • 10-year Treasury yield closed at 1.372%, compared with 1.341% on Wednesday.

Developments on the regulatory front continued Thursday as U.S. Rep.

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