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

Published

2 years ago

July 11, 2022

Ahron Young

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.

Trump will plead not guilty to revised 2020 election criminal charges

Published

2 days ago

September 5, 2024

ticker NEWS

Former U.S. President Donald Trump will plead not guilty to fresh criminal charges in a revised indictment accusing him of attempting to overturn the 2020 election.

In a court filing, Trump waived his right to appear in court, authorising his lawyers to enter the plea on his behalf.

This revised indictment, brought by Special Counsel Jack Smith, maintains the original four charges, including obstructing Congress and defrauding the United States. #featured #trending

Leaders

Harris promises to boost SME in the U.S. with $50,000 tax deduction

Published

3 days ago

September 4, 2024

ticker NEWS

Vice President Kamala Harris is set to propose a significant tax deduction for new small businesses.

Under the plan, startups could claim up to $50,000 in tax deductions, providing crucial financial relief during the critical early years of operation.

This initiative aligns with efforts to stimulate economic growth and job creation across the country, particularly in sectors hard-hit by the pandemic. #featured #trending