Tag Archives: currency

Stock Losses Deepen in Asia With Oil Below $40; Won, Kiwi Weaken

Asia stocks extended their drop as oils selloff revived concerns over global growth and after Japans fiscal stimulus package fell short of what some investors had expected. High-yielding currencies retreated. Japans Topix index slipped for a third day after the yen, which typically moves at odds with local shares, jumped 1.5 percent last session. Crude halted losses below $40 a barrel before an update on U.S. oil inventories, while gold was near its highest price since July 11. The Korean won weakened with the Malaysian ringgit as […]

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What Could Kill the Bitcoin Boom

If you bought a Bitcoin in early 2017, when one cost less than $900, you could have a profit of more than 1,200 percent now. But you almost certainly didn’t do that. Perhaps you dipped in a toe in November or December, as the price hit headline-grabbing records—$10,000, then $15,000, then higher. If you were very unlucky and bought at the peak of about $20,000 on Dec. 17, you’d have lost more than 40 percent of your money as of Jan. 16, when the price was $11,200. […]

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Heres What the World’s Central Banks Really Think About Bitcoin

Eight years since the birth of bitcoin, central banks around the world are increasingly recognizing the potential upsides and downsides of digital currencies. The guardians of the global economy have two sets of issues to address. First is what to do, if anything, about emergence and growth of the private cryptocurrencies that are grabbing more and more attention — with bitcoin now surging toward $10,000. The second question is whether to issue official versions. Following is an overview of how the world’s largest central banks (and some smaller […]

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After 4,400% Surge, Bitcoins Fate Hinges on Huge Chinese Miners

Wu Jihan still remembers the exhilaration he felt after learning about bitcoin in 2011. QuickTake Bitcoin and the Blockchain A self-described computer geek fresh out of Chinas top university, Wu soaked up everything he could about the digital currencys mysterious founder and its users ambitions to transform the global financial system. Within a year, he quit his job at a private equity firm to launch a bitcoin startup. Today, his company is one of the worlds biggest players in bitcoin mining, a computing process that makes transactions […]

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Bitcoin Looks Remarkably Like A Bubble, New Zealand’s Central Banker Warns

Bitcoin’s spectacular gains look like a speculative bubble and the cryptocurrency is too unstable to be useful in the future, New Zealand’s central banker said. “It looks remarkably like a bubble forming to me,” Reserve Bank of New Zealand Acting Governor Grant Spencer said in interview with TVNZ broadcast on Sunday. “Over the centuries we’ve seen bubbles, and this appears to be a bit of a classic case. With a bubble, you never know how far it’s going to go before it comes down.” Bitcoin has soared more […]

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Circle removes ability to buy and sell Bitcoin as it doubles down on mobile payments

Launched in 2013, Circle is a consumer finance company originally built with the goal of using the Bitcoin blockchain as a payments platform. Part of that was achieved by offering customers the abilityto buy and sell Bitcoin on the platform. Since then, the company has raised over $70M and slowly but surely turned in the direction of social payments. Buttoday the company is fully cutting support for buying and selling Bitcoin via their platform. Instead, they intent to double down on mobile payments. Today Circle will launch […]

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Bitcoin Mania Interrupted, for Now, After Outage Triggers Selloff

It takes a lot to startle fans of bitcoin, the digital gold of the moment. But Wednesday was, well, a lot — a wild run of exuberant peaks and white-knuckled declines that left even diehards breathless. The dizzying rally in bitcoin, a bull market with few precedents in investing history, was abruptly interrupted by a market outage in the U.S. that seemed to captivate Wall Street even more than the day’s selloff in high-flying technology stocks. Only hours after soaring past $11,000 — a price that represents […]

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Bitcoin Soars Past $8,000

Bitcoin’s relentless and volatile rally shows no sign of abating, with the world’s largest cryptocurrency defying growing bubble fears to hit yet another milestone. Bitcoin rose as much as 7.7 percent to a record $8,290 as of 2:47 p.m. in New York. It’s been a tumultuous year for the virtual currency, with three separate slumps of more than 25 percent all giving way to subsequent rallies. Even the most bullish analysts can’t keep up with bitcoin’s rally. Standpoint Research’s Ronnie Moas, who says bitcoin’s market cap will […]

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Bitcoin Plunges 29% From Record High

Bitcoin plummeted, extending its drop to 29 percent from a record high, on speculation some traders were buying its offshoot amid a struggle over the digital currency’s future. Bitcoin dropped to as low as $5,605 on Monday, from a record high $7,882 reached on Wednesday, data compiled by Bloomberg show. Bitcoin cash rose to $2,426 on Sunday, before plunging to $1,379 as of 9:32 a.m. in Hong Kong, according to Coinmarketcap.com. Bitcoin has slumped since the cancellation of a technology upgrade to increase its block size, amid […]

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Bitcoin Crashes and Then Surges in Wild Weekend Action

Bitcoin is proving that investing in digital currencies isn’t for the faint of heart. After plunging as much as 29 percent from a record high following the cancellation of a technology upgrade on Nov. 8, the largest cryptocurrency came roaring back in early trading Monday before fluctuating between gains and losses. “Crypto trading is not for the novice investor,” said John Spallanzani, chief macro strategist at GFI Securities LLC in New York. While multiple reasons are being cited for the price volatility, one of the more viable is […]

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