2021-12-14 11:04:45

Bitcoin price news live: Dogecoin price surges after Elon Musk tweet

Bitcoin saw a brief surge in price over the weekend that took it back above $50,000 but it has since slipped below $47,000 on Tuesday.

By contrast, dogecoin saw a massive surge in price this morning after Elon Musk revealed that Tesla will begin accepting payments in the meme-inspired cryptocurrency. Doge shot up more than 14 per cent in the space of a few minutes, returning its market cap to around $25 billion.

Other leading cryptocurrencies are struggling to recapture the momentum they saw last month, which took them to new all-time highs. Ethereum (ETH), Solana (SOL) and Ripple (XRP) all dipped by around 5 per cent on Monday, while the overall crypto market is down by a similar margin.

Despite the stagnation, several leading analysts are confident of a resurgence before the end of the year, with some even predicting a record-breaking end to 2021.

You can find all the latest news, analysis and expert price predictions right here.

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BREAKING: Tesla to accept dogecoin payments – Elon Musk

Tesla will soon start accepting payments in dogecoin, Elon Musk has revealed, though only for merchandise and not for cars.

The price of dogecoin is up more than 14 per cent since the Tesla boss made the announcement via Twitter.

There is still no word on whether the electric car maker will once again begin accepting payments in bitcoin, having introduced and then withdrawn the feature earlier this year.

You can read the developing story here:

Anthony Cuthbertson14 December 2021 11:04

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Deciphering Cryptocurrency: The Independent to host free crypto event

If you’re keen to learn more about bitcoin and the rest of the crypto space, we’re hosting a free online event tomorrow evening.

Joining me (Anthony Cuthbertson) will be crypto expert and Finder.com co-founder Fred Schebesta, as well as Dr Iwa Salami from the University of East London, who is an associate professor in financial law and programme leader in FinTech regulation. There may also be another special guest announced sooner to the time.

We’ll be discussing all that’s happened in 2021, as well as what to expect in 2022. You can ask questions to any of the panel ahead of time, or during the event itself.

It’s taking place at 6.30pm GMT on Wednesday and is completely free to attend. You can register here:

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Anthony Cuthbertson14 December 2021 10:51

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Crypto market re-enters ‘extreme fear’ territory

Bitcoin and the broader crypto market has once again entered a period of “extreme fear”, according to one sentiment-tracking index.

The Bitcoin Fear & Greed Index, which analyses emotions and sentiments from social media, exchanges and other of sources, fell back below 25 (out of 100) overnight.

Just last month, when bitcoin and other leading cryptocurrencies were hitting new all-time highs, the index was in the ‘greed’ territory, with a score of 74. For some cryptocurrency analysts, being in the ‘fear’ zone is seen as a key buy signal.

“Extreme fear, buy. Extreme greed, sell,” one investor recently noted on Twitter. “Rinse and repeat.”

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Anthony Cuthbertson14 December 2021 10:36

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Bitcoin slides by 4 per cent

After inching close to the $50,000 mark on Monday, Bitcoin has slipped down to a value of $47,000, down by about 4 per cent in the last 24 hours.

Other leading cryptocurrencies including ethereum, solana, and cardano are also down by over 5 per cent in the last day.

The overall crypto market is down by about 5 per cent in the last 24 hours, and is currently valued at about $2.14 trillion.

Meme coins dogecoin and its spinoff shiba inu are also down by 4 to 6 per cent in the last 24 hours.

The chart looks all red with no signs of recovery yet.

Prices of cryptocurrencies in the last 24 hours

(Coin Market Cap)

Vishwam Sankaran14 December 2021 03:06

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NFT accidentally sold for 1/100th of its market price

One of the Bored Ape Yacht Club NFTs was accidentally put on the market for one-hundredth of its market price, and swiftly snapped up by a canny buyer.

The seller of Bored Ape number 3,547 put the in-demand NFT on OpenSea for 0.75 ETH ($3,000) instead of 75 ETH ($300,000), blaming a “fat fingered” typing error.

It was purchased before the seller had a chance to click ‘cancel’, most likely by a bot programmed to snap up low-priced Bored Ape NFTs. It was soon back up on the OpenSea marketplace, where it is currently listed for 60 ETH.

Bored Ape Yacht Club 3,547

(OpenSea)

Anthony Cuthbertson13 December 2021 17:38

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Elon Musk discusses crypto with Time

Elon Musk, who was today named as Time’s Person of the Year 2021, has once again been chatting about cryptocurrency.

The world’s richest person laid out his credentials for understanding how money works by reminding the interviewer that he played a fundamental role in the creation of PayPal. He then spoke about the role bitcoin can play as a store of value (which he already does both personally and with SpaceX and Tesla cash reserves), while also warning of its potential limitations.

“Even though it was created as a silly joke, dogecoin is actually better suited for transactions,” he said. “It is slightly inflationary… but that’s actually good as it encourages people to spend rather than to horde it as a store of value.”

Anthony Cuthbertson13 December 2021 16:47

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Bitcoin analyst says ‘no signs of a further sell-off cascade’

Here’s some quick takes on the latest price dip:

“Bitcoin still holding the weekly pennant backtest,” says popular crypto commentator TechDev.

On-chain analyst Willy Woo, who counts nearly 1 million followers on Twitter, says: “No signs of a further sell-off cascade… Longs have already been flushed.”

Anthony Cuthbertson13 December 2021 16:14

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Bitcoin, Ethereum and other leading cryptos slip

The market has taken a slight tumble over the last hour, wiping nearly $100 billion from the overall cryptocurrency market cap.

The price slide has seen bitcoin (BTC) fall below $47,000, while Ethereum (ETH) also slid below the $4,000 mark it had managed to hold so well in recent days.

The reason for the downturn is not immediately clear, but further downward momentum could risk bitcoin falling below its 200-day moving average – a key point of resistance for the cryptocurrency. We’ll have some expert analysis on the dip shortly.

Anthony Cuthbertson13 December 2021 15:41

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Twitter hack sees India PM declares bitcoin ‘legal tender’

Narendra Modi declared bitcoin “legal tender” on Twitter over the weekend, in what was quickly revealed to be a hack on the Indian Prime Minister’s account.

Prime Minister Modi has more than 70 million followers on the platform – more than any other world leader – and it remains unclear how his personal profile was compromised.

The tweet was removed before it could have any major impact on the crypto market, with any such news likely to be monumental for the price of the cryptocurrency. When El Salvador announced that bitcoin would be legal tender earlier this year, it prompted a market-wide rally that led to new all-time highs.

You can read the full story here:

Anthony Cuthbertson13 December 2021 12:47

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Bitcoin slips by about 3 per cent in last 8 hours

After climbing above the $50,000 mark on Sunday, Bitcoin has dropped to about $49,000 within the span of a few hours.

The cryptocurrency has dropped in value by about a per cent compared to its price a day earlier.

Ethereum has also slipped by about a per cent in the last day while its down by over 4 per cent compared to its value a week earlier.

Polkadot has grown by about 5 per cent in the last 24 hours while cardano is down by over 5 per cent during this period.

The overall crypto market has dropped in value by over a per cent in the last 24 hours and is currently valued at about $2.24 trillion.

Vishwam Sankaran13 December 2021 02:58

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