
Striking the right balance between work and freedom
The coronavirus pandemic has prompted us to rethink how we work in so many ways, including where we work — whether …
May 21, 2021: -Bitcoin rose on Thursday as cryptocurrencies attempted recovery from a significant sell-off during the previous session.
According to Coin Metrics, the world’s largest digital currency bounced back above $40,000, climbing 7% to a price of $42,082. Bitcoin had earlier fluctuated around the $40,000 level.
Some of bitcoin’s newer alternatives also attempted a comeback Thursday, with ether up 8% at $2,820 and litecoin rising 7% to $218. Dogecoin, meme-inspired crypto that Elon Musk has talked up, surged 14% following a tweet from the Tesla CEO.
On Wednesday, bitcoin dived 30% to nearly $30,000 at one point before paring some of those losses. The entire crypto market lost hundreds of billions of dollars of value in a single day.
The move lower was driven by mixed signals from Musk, who came out as a believer in bitcoin earlier this year, and a regulatory clampdown on the market in China.
On May 12, Musk said his electric car company had suspended vehicle purchases with bitcoin due to environmental concerns. Mining cryptocurrency uses more energy than entire countries like Argentina and Ukraine, according to Cambridge University researchers.
Earlier this week, Musk suggested Tesla may have sold its bitcoin holdings, only to clarify later that it had “not sold any bitcoin.” On Wednesday, he tweeted the “diamond hands” emoji, implying that the electric vehicle maker would not shed any of its bitcoin.
Also weighing on bitcoin’s price, Wednesday was the news that China had banned financial institutions and payment firms from providing cryptocurrency-related services, reiterating its tough stance on digital currencies.
“If you look at the history of bull markets, a correction of this size, between 30-40% of bitcoin price, tends to be part of the bull market,” Alyse Killeen, founder and managing partner of bitcoin-focused venture capital firm Stillmark Capital, told CNBC Wednesday.
The coronavirus pandemic has prompted us to rethink how we work in so many ways, including where we work — whether …
Many countries are now welcoming employees back to work after a long period of uncertainty caused by the …
People who have an entrepreneurial mindset learn to spot new opportunities and create value inside a business naturally and …
COVID-19 has made routine modern-day disruptions for businesses even more challenging, impacting everything …
Innovations must be unconventional and ought to push boundaries. Innovation-driven people are …
COVID-19 changed the corporate environment in the blink of an eye, highlighting a vital, often misunderstood truth: that to …
July 6, 2022: -On Tuesday, SAS filed for bankruptcy in the United States, the Scandinavian airline said, warning strike action …
July 6, 2022: -Beleaguered cryptocurrency lender Vauld has been thrown a lifeline from more extensive competitor …
July 5, 2022: -Germany’s road traffic agency determined Tesla models Y and three because of a fault in the automatic …
July 5, 2022: -On Monday, the company said that Crypto lender Vauld halted all withdrawals, trading, and warranties …
Leave us a message
Subscribe
Fill the form our team will contact you
Advertise with us
Fill the form our team will contact you