Bitcoin Markets in Capitulation After Worse Quarterly Loss in a Decade

Analysts have been predicting a final capitulation event for some time now, but it could already be happening according to on-chain metrics. The post Bitcoin Markets in Capitulation After Worse Quarterly Loss in a Decade appeared first on BeInCrypto.

Timeline of Bitcoin

Bitcoin BTC/USD is the largest cryptocurrency in terms of market capitalization, and it has maintained its level of dominance in the crypto space despite the bearish crypto market. Despite its recent bearish outlook, a lot of investors and even entire countries are buying cryptocurrency. El Salvador and MicroStrategy's purchases of BTC as catalysts for growth The post Bitcoin's price movements after El Salvador and MicroStrategy purchase appeared first on Invezz.

As the third quarter began, Bitcoin and Ethereum languished in the vicinity of key support levels as investors remained side-lined following an up-and-down few weeks, with so-called bargain prices tempting very few. Bitcoin edged cautiously lower by 0.2% to US$19,389, while its largest rival by market value, Ethereum, was changing hands 0.8% lower at US$1,053.

After MicroStrategy's return this week, El Salvador's President Nayib Bukele has also broken his recent silence on all things bitcoin (BTC)-related. He announced that the country has bought the latest “dip” – splashing out on BTC 80 virtual coins at a price of USD 19,000 per bitcoin.

The entry of Samsung into 3-nanometer foundry processor manufacturing kicks off, and the South Korean company will reportedly start producing Gate-All-Around-based chipsets this week, Samsung New3sroom disclosed on Thursday. The electronics juggernaut is making rapid progress toward finishing the creation of chipsets that could assist the mining of Bitcoin.

Recent market volatility pushed Bitcoin below $20,000, marking the first time in its history it had sunk lower than the previous cycle peak. The post What's next for Bitcoin as market sentiment sours?

BnkToTheFuture, a lead investor in beleaguered cryptocurrency lending platform Celsius, has put forth three proposals to save the company from going under. What Happened: On Friday, CEO of BkToTheFuture Simon Dixon shared the Depositor's First Celsius Recovery Plan in a post on Twitter.

Bitcoin and Ethereum began the week picking up some positive momentum as the market turned its attention to the launch of Terra 2.0 following its predecessor's collapse. Bitcoin climbed back up to flirt again around the US$30,000 support level, up 5.6% to US$30,611, while its closest rival by market value, Ethereum, slightly outpaced the crypto king, climbing 6.8% to US$1,900.

Bitcoin and Ethereum continued to rebound and enjoy some much-needed respite as China's plans to lift Covid-19 restrictions sent positive waves through the global economy. Bitcoin edged cautiously higher by 2.7% to US$31,479, while its closest rival, Ethereum, slightly outpaced the more popular coin, advancing 3.0% to US$1,964.

As part of the launch of its new crypto trading platform, Firstrade Securities has listed popular cryptocurrencies Bitcoin (BTC), Ethereum (ETH), Shiba Inu (SHIB) and Dogecoin (DOGE) for its customers to buy and sell. The four cryptocurrencies make up just a few of the dozens now available for trading on the global trading and investment …

El Salvador President Nayib Bukele said the country purchased 80 Bitcoin on Friday amid a broader decline in the token's prices. The South American country bought 80 Bitcoin at about $19,000 each, valuing the total transaction at $152,000.