Technology
Bitcoin goes above $6,000 for the first time this year
If you thought that the theft of 7,000 bitcoins from one of the world’s biggest crypto exchanges would stop Bitcoin’s price in its tracks, you were wrong.
On Thursday, the price of Bitcoin went above $6,000 for the first time since November last year. At the time of writing, Bitcoin is trading at $6,102.64 according to CoinMarketCap.
The Binance hack — made worse by the company CEO Changpeng Zhao’s short-lived suggestion to change Bitcoin’s history to undo the hack — wasn’t the only recent bad news for Bitcoin and cryptocurrencies in general. In April, news broke that China is considering banning cryptocurrency mining in the country. Later that month, cryptocurrency exchange Bitfinex and stablecoin Tether were accused by the New York Attorney General of covering up an $850 million loss of customer funds. Last week, famous investor Warren Buffett slammed Bitcoin for being useless, and Nobel Prize-winning economist Joseph Stiglitz suggested cryptocurrencies should be “shut down.”
There was good news as well; in April, cryptocurrency exchange Coinbase opened shop in several key markets, including Argentina, India, Indonesia and Mexico. And earlier this week, a report said investment giant Fidelity is looking to launch a crypto trading product.
But Bitcoin being Bitcoin, it largely ignored news and just kept pumping. It’s still a long way since its Dec. 2017 highs of nearly $20,000, but the recent price gains are reminiscent of 2017, when the price kept rising no matter what happened (right up until mid-December).
Other major cryptocurrencies, including Ethereum and XRP, have also experienced price growth in the last 24 hours, but the gains were much more modest. Ethereum rose 0.81% and is currently trading at $171.49, and XRP rose 0.28% to its current price of $0.300681.
Disclosure: The author of this text owns, or has recently owned, a number of cryptocurrencies, including BTC and ETH.
-
Business7 days ago
Humanoid robots are learning to fall well
-
Entertainment6 days ago
2024 summer TV preview: 33 TV shows to watch this summer
-
Business6 days ago
Google Gemini: Everything you need to know about the new generative AI platform
-
Business4 days ago
Haun Ventures is riding the bitcoin high
-
Entertainment5 days ago
‘Bridgerton’: Everything you need to remember before Season 3
-
Entertainment4 days ago
Hands-on with the Claude AI app: It’s pleasant to use, but janky
-
Entertainment3 days ago
5 essential gadgets for turning your home into a self-care sanctuary
-
Entertainment4 days ago
How to unblock porn sites: Greatest VPN for porn in 2024