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Bitcoin drops below $US22,000 as economic data weighs down

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Crypto leader Bitcoin continues its slide south, dropping another 3 per cent over the weekend, to below $US22,000

Cryptocurrency leader bitcoin continues its slide, down another 3 percent, amid broad-based losses.

Bitcoin’s slide below 22,000-US dollars comes after a brief boost on Friday on strong US job numbers.

Bitcoin’s value is more than 50 percent lower than the start of the year and over 69 percent below its all-time high in November 2021.

Ethereum has also dropped, down 3.4 percent, while binance coin is also down 3.6 percent.

Trading is likely to be volatile across equities and speculative assets ahead of official US inflation data on Wednesday.

It comes as traders wait and watch on how major crypto lender Celsius works itself out of a debt and liquidity crunch as it looks to “preserve and protect assets”.

What’s behind the Crypto crash?

Anyone who’s been interested in cryptocurrency knows that it’s volatile with its “boom and bust” cycles. Bitcoin has fallen below $US20,000 for the first time since November 2020.

Over the last 7 months its value has shrunk by more than 70%

Ticker’s Omer Kablan explains.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Top 5 destinations for “revenge travel” in 2023

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1. Greece


Greece is a beautiful country that is rich in history and culture.

The country is home to some of the most famous historical sites in the world, such as the Parthenon and the Acropolis.

Greece is also known for its stunning beaches, crystal-clear waters, and delicious food.

2. Italy


Italy is another popular tourist destination that is known for its rich history and culture.

The country is home to many famous historical sites, such as the Colosseum and the Vatican City.

Italy is also known for its delicious food, stunning scenery, and friendly people.

3. Spain


Spain is a diverse country that offers something for everyone.

The country is home to beautiful beaches, stunning mountain ranges, vibrant cities, and friendly people.

Spain is also known for its delicious food and wine.

4. France


France is a popular tourist destination that is known for its stunning scenery, delicious food, and rich history and culture.

The country is home to many famous historical sites, such as the Eiffel Tower and the Louvre Museum.

France is also known for its beautiful countryside and friendly people.

5. United Kingdom


The United Kingdom is a popular tourist destination that offers a unique blend of history and culture.

The country is home to many famous historical sites, such as Stonehenge and Westminster Abbey.

The United Kingdom is also known for its stunning scenery, friendly people, and delicious food

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Wall Street smashed by months of volatility

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Wall Street neared bear market territory on Friday as stocks fell sharply to end the week with the Dow down more than 800 points.

The sell-off was driven by fears of a deeper recession, as data showed that manufacturing activity contracted for the fourth straight month.

The Dow is now down 20% from its peak in February, and if it falls below 19,000 it will officially enter bear market territory.

While some analysts believe that the market is overreacting to the latest data, others say that the sell-off is justified given the deteriorating economic conditions.

It remains to be seen whether the market can recover from this latest setback, but one thing is clear: Wall Street is in for a volatile ride in the weeks and months ahead.

The Dow was down more than 800 points, or 3.2%, at 24,608. The S&P 500 was down 3% at 2,754, and the Nasdaq Composite was down 2.8% at 7,433.

All three indexes are now down more than 20% from their all-time highs set in late September. The sell-off was driven by fears of a deeper recession as the yield on the 10-year Treasury fell below 1.6%.

The market has been deeply volatile in recent weeks on fears that the coronavirus outbreak will lead to a slowdown in global economic growth. Friday’s sell-off suggests that those fears are still very much present.

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Crypto whales exchange $10 million in Shiba coins

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Two large anonymous cryptocurrency wallets exchanged a total of 855,614,973 Shiba Inu meme coins, worth approximately $9.6 million.

The data, published on the WhaleStats website, reveals that these top Ethereum wallet owners have increased their SHIB stash by $134,767,965 in value since September 21.

While it is unclear what the motives behind these transactions are, it seems that the recent surge in demand for Shiba Inu meme coins has led to a significant increase in their value.

With the price of SHIB currently sitting at $0.0016 per coin, it will be interesting to see how these anonymous investors choose to cash out their profits.

So, these whales made a profit of about $649 000 in just three days due to the price increase of both assets.

As the Ethereum blockchain network’s meme currency becomes more popular among cryptocurrency investors and traders, its price is also growing rapidly.

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