news4global
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    Bitcoin At MAJOR Crossroads (IS BTC PRICE ABOUT TO CRASH?)

    Bitcoin At MAJOR Crossroads (IS BTC PRICE ABOUT TO CRASH?)

    Could the FIRST Cryptocurrency Pre Sale Altcoin of 2023 EXPLODE?

    Could the FIRST Cryptocurrency Pre Sale Altcoin of 2023 EXPLODE?

    ये Coins कर सकते बर्बाद ‼️  Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    ये Coins कर सकते बर्बाद ‼️ Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    Quant QNT Price News Today Technical Analysis – Price Now! Quant Price Prediction 2022

    Quant QNT Price News Today Technical Analysis – Price Now! Quant Price Prediction 2022

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    Gravitas: Cryptocurrency: New tool for money laundering

    Gravitas: Cryptocurrency: New tool for money laundering

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    Bitcoin At MAJOR Crossroads (IS BTC PRICE ABOUT TO CRASH?)

    Bitcoin At MAJOR Crossroads (IS BTC PRICE ABOUT TO CRASH?)

    Could the FIRST Cryptocurrency Pre Sale Altcoin of 2023 EXPLODE?

    Could the FIRST Cryptocurrency Pre Sale Altcoin of 2023 EXPLODE?

    ये Coins कर सकते बर्बाद ‼️  Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    ये Coins कर सकते बर्बाद ‼️ Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    Quant QNT Price News Today Technical Analysis – Price Now! Quant Price Prediction 2022

    Quant QNT Price News Today Technical Analysis – Price Now! Quant Price Prediction 2022

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    Gravitas: Cryptocurrency: New tool for money laundering

    Gravitas: Cryptocurrency: New tool for money laundering

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

No Result
View All Result
news4global
No Result
View All Result
Home Bitcoin

Why Bitcoin, Ethereum, and Dogecoin Dropped Today

July 10, 2022
Reading Time: 4 mins read
0
Bitcoin Dips Below 19K. What Does This Mean for the Coin?
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

What happened

Cryptocurrencies were having a rough day on Sunday after a healthy recovery last week. But in cryptocurrencies, we have seen recently that momentum doesn’t last for long.

As of 4:00 p.m. ET, Bitcoin (CRYPTO: BTC) is down 3.5% in the last 24 hours, Ethereum (CRYPTO: ETH) has fallen 4%, and Dogecoin (CRYPTO: DOGE) is off 3.8%. But over the last week, the same cryptocurrencies are up by 7.4%, 8.7%, and flat, respectively.

Related articles

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Coinbase CEO Armstrong Decries Rumors of Possible US SEC Ban … – Bloomberg

February 9, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

What Is Tokenomics? The Investor's Guide – Blockworks

February 8, 2023

So what

More pain is being reported in the crypto lending space as exchange Blockchain.com reportedly faces a $270 million loss on loans to Three Arrows Capital. The collateral damage and web of loans in the crypto space have come to light after Three Arrows Capital filed for bankruptcy in the U.S. and has begun being liquidated.

The good news is that Celsius continues to unwind its complex positions. Over the weekend, it reportedly paid back $258 million to Aave and Compound in order to free up $950 million in collateral. If Celsius can unwind its positions and capture collateral, we may see it being able to pay back customer funds when they want to withdraw. The problem is that getting collateral back may also mean selling crypto assets, dumping more on the market at a time when buyers are scarce.

Bitcoin may also be coming off a high after Binance announced on Friday the ability to trade that currency without fees. Trading volume spiked as a result, which died down once the initial exuberance wore off.

Now what

Weekends can be volatile for cryptocurrencies because volume goes down and any news can move the market extremely quickly. With all of the liquidations in crypto today, it’s possible we see even more selling pressure in the coming weeks as big leveraged positions are unwound. But that’s not what’s going to drive the price of cryptocurrencies long-term.

I do think it’s worth taking a step back to think about what’s being developed using cryptocurrencies and the blockchain as a base. There are now thousands of developers building businesses backed by billions of dollars of capital and we’re just starting to see fruit from that investment. Over the next few years, we’ll likely see many types of transactions move to the blockchain and businesses will begin building more use cases over time.

I’m bullish on this building that’s taking place, but given the prevalence of trading in cryptocurrencies over the past year, it’s not surprising to see a pullback. Traders who lost money are exiting the market and leveraged positions are being unwound. That will take time, but long term we need to keep in mind that a lot of value is being built and that will be great for investors who buy and hold.

10 stocks we like better than Bitcoin
When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*

They just revealed what they believe are the ten best stocks for investors to buy right now… and Bitcoin wasn’t one of them! That’s right — they think these 10 stocks are even better buys.

See the 10 stocks

*Stock Advisor returns as of June 2, 2022

Travis Hoium has positions in Ethereum. The Motley Fool has positions in and recommends Bitcoin and Ethereum. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Share76Tweet47

Related Posts

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Coinbase CEO Armstrong Decries Rumors of Possible US SEC Ban … – Bloomberg

by admin
February 9, 2023
0

Coinbase CEO Armstrong Decries Rumors of Possible US SEC Ban ...  Bloomberg

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

What Is Tokenomics? The Investor's Guide – Blockworks

by admin
February 8, 2023
0

What Is Tokenomics? The Investor's Guide  Blockworks

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Fed Board Prohibits Member Banks from Holding Cryptoassets as … – Blockworks

by admin
February 8, 2023
0

Fed Board Prohibits Member Banks from Holding Cryptoassets as ...  Blockworks

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Cryptocurrency News: Bitcoin Price Rises Again After Stalling To … – Investor's Business Daily

by admin
February 7, 2023
0

Cryptocurrency News: Bitcoin Price Rises Again After Stalling To ...  Investor's Business Daily

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Airswift CEO: Crypto Future Is Decentralization With Regulated Infrastructure – PYMNTS.com

by admin
February 7, 2023
0

Airswift CEO: Crypto Future Is Decentralization With Regulated Infrastructure  PYMNTS.com

Load More
  • Trending
  • Comments
  • Latest

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

March 3, 2022

Bitcoin Is ‘Definitely Not a Fraud,’ CEO of Mobile-Only Bank Revolut Says

March 2, 2022
How online shopping has changed over the last 30 years | National

How online shopping has changed over the last 30 years | National

April 6, 2022
Protocon Announces ‘Contract Model’, an Alternative

Protocon Announces ‘Contract Model’, an Alternative

April 6, 2022

US Commodities Regulator Beefs Up Bitcoin Futures Review

0

Bitcoin Hits 2018 Low as Concerns Mount on Regulation, Viability

0

India: Bitcoin Prices Drop As Media Misinterprets Gov’s Regulation Speech

0

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

0
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Polygon Recruits Top Aave Lawyer Rettig for Crypto Policy Role – Bloomberg Law

February 9, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

OKX Takes Centre Stage as Naming Rights Sponsor of the … – GlobeNewswire

February 9, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

FM Urges IMF To Develop Globally Coordinated Approach To Crypto Asset Regulations – ABP Live

February 9, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Blockchain developers have taken a decentralized interest in cloud storage – will it shake up the industry? – Forkast News

February 9, 2023

Latest News

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Polygon Recruits Top Aave Lawyer Rettig for Crypto Policy Role – Bloomberg Law

February 9, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

OKX Takes Centre Stage as Naming Rights Sponsor of the … – GlobeNewswire

February 9, 2023

Categories

Site Navigation

  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services
  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services

© 2022 Designed by news4global

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • Videos

© 2022 Designed by news4global