Cryptocurrency Litecoin saw a sudden surge in price on Monday over a press release about Walmart accepting it for payment – which turned out to be fake.
The release, published through a legitimate press channel, claimed that Walmart would accept the currency through all its digital stores.
Walmart later told US media outlets the announcement was “inauthentic”.
By that time, several major news websites and press agencies had spread the supposed news.
Data analytics firm MicroStrategy, which owns more bitcoin than any other corporation in the world, announced another big investment in the world’s largest cryptocurrency on Tuesday morning, doubling down on its staggering commitment as the nascent market recovers from a $1 trillion crash this year.
Some investors are saying bye-bye to bitcoin, which is causing the cryptocurrency’s price to crash.
Is the COVID-19 pandemic to blame?
Unlike for most things these days, the answer is no.
Fingers instead are pointing to 1600 Pennsylvania Avenue, because of reports that President Joe Biden is planning to raise the tax on capital gains.
Despite still-booming institutional adoption, the price of the world’s largest cryptocurrency is tanking Thursday morning as analysts warn of massive volatility on the horizon, pushing bitcoin’s losses to nearly 15% since an all-time high on March 13.
KEY FACTS
As of 11 a.m. EDT, the price of bitcoin has tanked 9.4% over the past 24 hours, pushing its market capitalization down to about $970 billion, from nearly $1.1 trillion at the same time Wednesday, according to crypto-data website CoinMarketCap.
It’s been a rough 24 hours for bitcoin traders. The cryptocurrency has plunged 16% from its all-time high in just one day, falling from $58,000 on Sunday to just over $46,000 as of the time of this writing. So what happened? Two things. Or, rather, two people may be the reason why:
Financial services company Mastercard has given fresh credibility to cryptocurrencies this week by announcing it intends to start supporting payments using them on its network this year.
Many people remain very skeptical of crypto, and who can blame them? The price of Bitcoin is far from stable, and then there’s the threat of someone stealing it. Mastercard looks to be taking a cautious approach, however, and being very selective in what it chooses to support.
“We are preparing right now for the future of crypto and payments, announcing that this year Mastercard will start supporting select cryptocurrencies directly on our network. This is a big change that will require a lot of work. We will be very thoughtful about which assets we support based on our principles for digital currencies, which focus on consumer protections and compliance,” explained Raj Dhamodharan, executive vice president of Blockchain / Digital Asset Products & Digital Partnerships at Mastercard.
The main reason someone gets into trading is that they want to make money. Nobody likes to lose money in any business they get into. The same thing applies to cryptocurrency trading. Losing money causes frustration. Then you might have to borrow more money, getting yourself into more debt. This causes frustration and you can easily lose your patience, then give up. This means you have failed.
What are the things you must know in order to succeed in trading cryptocurrencies? Below you can take a look at 3 key things you must know to make money trading cryptocurrency.
Cryptocurrency company Coinbase has been working with Paysafe to issue the Coinbase Card, a Visa debit card that works with your Coinbase account balance. The company is now a Visa Principal Member, which should help Coinbase rely less on Paysafe and control a bigger chunk of the card payment stack.
Coinbase says it is the only cryptocurrency company that has reached that level of certification. The company will offer the Coinbase Card in more markets in the future. The new status could open up more possibilities and features as well.
Bitcoin, ethereum, Ripple’s XRP, and litecoin suddenly rocketed this weekend, with the largest cryptocurrency by market capitalization, bitcoin, shooting past the psychological $10,000 per bitcoin mark to highs of $11,200 on the Luxembourg-based Bitstamp exchange.
Ethereum, Ripple’s XRP, and litecoin all made double-digit gains, meanwhile, with the sudden push higher causing many to recall the great bitcoin and cryptocurrency bull run of late 2017 which saw the bitcoin price go from $10,000 per bitcoin to almost $20,000 in under 20 days.
You know those machines at the grocery store that transform your gallon jugs worth of change into more usable currency? They’re about to start selling Bitcoin .
To make this impulse shopping dream come true, Coinstar, the company behind those ubiquitous change-counting kiosks, has partnered with Coinme, a startup that operates a small network of cryptocurrency-dispensing ATMs around the country.
Dispatches From The Front 