VRB News
  • Home
  • About us
  • IT news
  • Tech
  • World
  • Contact
No Result
View All Result
  • Home
  • About us
  • IT news
  • Tech
  • World
  • Contact
No Result
View All Result
VRB News
No Result
View All Result
Home IT news

Bitcoin temporarily falls to below $ 18,000 – “trust collapses”

admin by admin
June 24, 2022
in IT news
0
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

The cryptocurrency Bitcoin continued its price slide over the weekend and at times fell significantly below the important mark of 20,000 dollars. The oldest and best-known cyberdevise only cost $ 17,649 at times on Saturday, about 14 percent less than on Friday and as little as it has not cost in 18 months. In November, a Bitcoin with around $ 68,000 was still almost four times as expensive, since the beginning of the year, the value has fallen by more than 60 percent. The cryptocurrency Ethereum lost 73 percent in the period. On Sunday, the price recovered to around $ 19,500, but did not make up for Saturday’s losses.

“Breaking the $20,000 mark shows that confidence in the crypto industry has collapsed,” said Edward Moya, market analyst at The Americas OANDA. “There are too many cryptocurrencies and crypto exchanges that are under enormous financial pressure in view of the cost of borrowing,” he said, referring to rising interest rates. Many retail investors who had invested their money in cryptocurrencies would now be permanently scared away. The price slide is accompanied by significant losses on the global stock markets due to fears of a recession.

Jochen Stanzl, chief market analyst at CMC Markets, had only a few days ago referred to a general sell-off on the risk markets. If Bitcoin does not rise to almost $ 33,000 at the end of the month, there is a risk of another crash to the 10,000 mark from a technical point of view.

The industry analyst Timo Emden said on Sunday that the mixed situation is still fragile from a fundamental and chart-technical point of view. There can be no talk of a serious recovery. “However, a capitulation of the investors and thus all the losses on Bitcoin & Co remain premature at this point.” In view of an oversold market situation, a strong countermovement is in the air. However, the effects of the ongoing price declines are now likely to have finally arrived at the Bitcoin manufacturers (miners). For many, the bill is no longer going up, which pushes the concern of a final capitulation of a large part. If prices fall even lower, the trend is likely to intensify. “Only a few farms could survive.” The industry suffers from high energy costs. By selling the Bitcoin holdings, the miners could try to cover their expenses.

In the market for cyberdevices, investors had also recently been concerned about the situation of Celsius Networks, a provider of cryptocurrency loans. Celsius had declared to suspend withdrawals and transfers between accounts in order to stabilize liquidity and operations. The company lends digital money, issues loans secured with cryptocurrencies and offers savings products for customers who invest their cyber currencies with the company. On its website, the company advertises with annual returns of up to 17 percent.

There were fears in the market that other companies in the industry would be dragged into the abyss. One problem was that companies like Celsius operated in a grey area, Matthew Nyman of the law firm CMS had explained. Unlike traditional banks, they are not subject to any clear regulation with corresponding disclosure obligations.

Several companies in the industry have announced the dismissal of thousands of employees. Against this background, investors have recently also parted ways with stocks from the cryptocurrency sector and with companies that deal with the blockchain technology underlying crypto currencies.

Previous Post

Bundeskartellamt initiates proceedings against Google for map services

Next Post

Virtual Desktop adds custom environments

admin

admin

Related Posts

t3n – digital pioneers / The magazine for digital business
IT news

t3n – digital pioneers / The magazine for digital business

June 27, 2022
Next bad sign? – Celsius hires additional insolvency administrators
IT news

Next bad sign? – Celsius hires additional insolvency administrators

June 27, 2022
Very interesting news in the next Oculus SDK
IT news

Very interesting news in the next Oculus SDK

June 27, 2022
Bitcoin (BTC) at its highest price in 10 days, whales are causing a “massive spike”
IT news

Bitcoin (BTC) at its highest price in 10 days, whales are causing a “massive spike”

June 27, 2022
Krypto Mining: So will die Industrie grüner werden
IT news

Crypto Mining: How the Industry Wants to Become Greener

June 27, 2022
Next Post
Virtual Desktop adds custom environments

Virtual Desktop adds custom environments

Premium Content

DevOps underestimated at universities

How Germans learn the Java programming language

June 14, 2021
“Kaspersky lab” has identified a campaign of cyber espionage against industrial enterprises

“Kaspersky lab” has identified a campaign of cyber espionage against industrial enterprises

October 10, 2020
Encrypted data against physical attacks

Verification of digital identities with Chip-fingerprints

June 1, 2021

Browse by Category

  • Games
  • IT news
  • Tech
  • World
VRB News

VRB News is ready to cooperate with webmasters and content creators. Send an email to info@virtualrealitybrisbane.com

Categories

  • Games
  • IT news
  • Tech
  • World

Recent Posts

  • t3n – digital pioneers / The magazine for digital business
  • Next bad sign? – Celsius hires additional insolvency administrators
  • Very interesting news in the next Oculus SDK

© 2021 - The project has been developed ServReality

No Result
View All Result
  • Home
  • About us
  • IT news
  • Tech
  • World
  • Contact

© 2021 - The project has been developed ServReality

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?