Bitcoin value News

The second-largest cryptocurrency ether jumped more than 10% to as high as $2,321, erasing losses of 8.6% on Sunday that pushed it to near a two-month low around $1,730. The attention on Chinese miners - who account for some 70% of supply - is the latest front in a wider push by Beijing against the cryptocurrency sector. In the short-term, market players said, that is likely to lead to pressure on prices as miners sell bitcoin held on their balance sheets.

Bitcoin, the world`s biggest and best-known cryptocurrency, is down 48% from the year`s high of $64,895.22 on April 14. Bitcoin markets operate 24/7, setting the stage for price swings at unpredictable hours. Bitcoin had been under pressure after a series of tweets last week by billionaire Tesla Chief Executive and cryptocurrency backer Elon Musk, chiefly his reversal on Tesla accepting bitcoin as payment.

Bitcoin is up 120.2% from the year`s low of $27,734 on Jan. 4. After its February 21 high, Bitcoin had retreated to as low as $43,000 following uncertainty over stimulus expectations and their subsequent impact on US bond yields. The cryptocurrency’s price is now up almost 1,400 percent from March 2020’s low of $4,000.

The price of the world`s biggest and best known cryptocurrency fell to as low as $10,567 on the Luxembourg-based Bitstamp exchange, not far from its six-week nadir of $10,162 touched the previous day.

In the futures market, bitcoin one-month futures on Cboe Global Markets were earlier halted due to the steep price drop, while those trading on the CME hit the limit down threshold.

The cryptocurrency, which was at about $1,000 at the year`s start, had surged to a record high of $19,666 on Sunday.

The unit hit a record $19,500 at the start of the week.

Here are various possibility of taxing bitcoin profits under different circumstances.

Google currency conversion tool shows the real time value of bitcoin vis-a-vis the Indian Rupee.

A twitter user owns 1,500 bitcoins and wants to give it to people on the occasion of Christmas.

Proponents say bitcoin is a good medium of exchange and a way to store value, much like a precious metal.

Bitcoin began the year below $1,000 but continues its sharp rise despite warnings of a dangerous bubble.

Bitcoin`s meteoric ascent of over 10-fold from below $1,000 at the start of the year has drawn regulatory scrutiny around the world.

It has soared more than 900 percent so far this year, posting the largest gain of all asset classes, on expanding financial and mainstream use.

The cryptocurrency, which started the year at USD 1,000, had reached USD 5,000 by October.