Bitcoin’s slump could be the start of a ‘crypto winter’ that sees prices crash, UBS says. Here are three reasons why. | Currency News | Financial and Business News

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UBS said there are a number of challenges that could trigger a crypto winter.Marvin Recinos/Getty Images A growing number of factors suggest a “crypto winter” could be on its way, analysts at UBS have warned. The case for bitcoin as a currency and inflation hedge is dwindling, and its tech has several flaws, they said. … Read more

Bitcoin’s dominance of crypto payments is starting to erode

With Bitcoin’s price rising 60% last year, despite the fourth-quarter volatility, many investors may also have chosen to hold onto the world’s biggest cryptocurrency instead of spending it (Photo: iStock)

Last year, Bitcoin’s use at merchants that use BitPay dropped to about 65% of processed payments, down from 92% in 2020, the company told Bloomberg. Ether purchases accounted for 15% of the total, stablecoins were 13% and new coins added to BitPay in 2021 — Dogecoin, Shiba Inu and Litecoin — accounted for 3%.  The … Read more

Bitcoin’s Near 40% Slide Weighs on Crypto Stocks While Coinbase Outperforms

Bitcoin’s Near 40% Slide Weighs on Crypto Stocks While Coinbase Outperforms

Argo Blockchain (ARBK), the only crypto miner listed on the London Stock Exchange (LSE), has declined by 45%, while Canadian crypto miners Hive Blockchain (HIVE) and Hut 8 Mining Corp (HUT) have slipped 52% and 59%, respectively. Toronto-listed crypto exchange Voyager Digital (VYGVF) is down 50% alongside a 45% slide in shares in MicroStrategy (MSTR), … Read more

Coinbase and Other Crypto Stocks Extend Losses After Bitcoin’s Sharp Slide

Coinbase and Other Crypto Stocks Extend Losses After Bitcoin's Sharp Slide

Text size Seemanta Dutta/Dreamstime.com Coinbase , Marathon Digital and other cryptocurrency-related stocks were extending losses Thursday after Bitcoin slumped and investors sold off the tech sector. Coinbase (ticker: COIN) was down 1.4% to $231 in premarket trading Thursday after dropping more than 7% during the previous session as Bitcoin slid following the release of the … Read more

Altcoins eat into Bitcoin’s dominance as latter’s share in total crypto m-cap shrinks drastically

Altcoins eat into Bitcoin's dominance as latter's share in total crypto m-cap shrinks drastically

In its 13-year journey, Bitcoin has been the top coin by market cap but its dominance has seen a drop from steady over 80 per cent till 2017 to averaging around 50-60 per cent in the following four years. Bitcoin’s domination in the crypto world has hit its lowest since May this year, thanks to … Read more

El Salvador’s Crypto-Treasury Now Richer by 420 Bitcoins, President Nayib Bukele Says

El Salvador’s Crypto-Treasury Now Richer by 420 Bitcoins, President Nayib Bukele Says

El Salvador, the country that became first in the world to legalise Bitcoin as a legal tender in September, continues to keep adding to its crypto treasury. The country has purchased a new lot of 420 Bitcoins earlier this week, Salvadorian President Nayib Bukele revealed on Twitter. El Salvador has spent around $25 million (roughly … Read more