18 April 2021, 10:47 am EDT By ( Dan Kitwood/Getty Images )
Bitcoin price dives down in more than seven weeks, mere days after reaching a record high, marking the biggest single-day drop since February 2021.
The news prompted experts to speculate that the drop is the beginning of the anticipated burst, after believing that Bitcoin s bubble has reached a critical point.
Bitcoin Price and Speculations
On Apr. 17, 7 a.m. ET, Bitcoin s price fell 10.8% from $61,396 to $54,750, reaching as low as $51,300 as it dropped to more than $7,000 in one hour.
Bitcoin reached a record high of $64,869.78 on Apr. 14, a day before cryptocurrency exchange Coinbase s debut on Nasdaq.
Bitcoin resurges beyond $60,000 over reports of constrained supply
The world s biggest and best-known cryptocurrency hit $61,222.22 on Saturday, its highest in nearly a month. It was slightly lower at $59,907 at 0500 GMT on Sunday
Reuters | April 11, 2021 | Updated 19:06 IST
Bitcoin (BTC) is up 116% from the year s low of $27,734 on Jan. 4
Bitcoin rose above $60,000 to approach record highs on the weekend, breaking out of a two-week tight range and propelled by talk of constrained new supplies against evidence of wider adoption.
The world s biggest and best-known cryptocurrency hit $61,222.22 on Saturday, its highest in nearly a month. It was slightly lower at $59,907 at 0500 GMT on Sunday.
Bitcoin Price Surges Above $60,000, Cryptocurrency Hits First High In Nearly A Month
04/11/21 AT 2:15 PM
On talk of reduced supply, Bitcoin (BTC) nearly hit a new high Saturday, surging over $60,000 for the first time in almost a month.
The price of the cryptocurrency reached $60,588.47, short of its all-time high of $61,712 from mid-March. In recent weeks, its price has vacillated in the $50,000s. The new gain put Bitcoin up about 116% from its low of $27,734 on Jan. 4, 2021.
The surge comes about a month after President Joe Biden signed the $1.9 trillion stimulus bill.
Justin d’Anethan, sales manager at Diginex in Hong Kong, broke down the reasoning behind the sudden Bitcoin surge.
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March 17, 2021 Regulation
Sygnum–a digital asset bank with operational licenses in Switzerland and Singapore, is offering a 0.75 percent annual yield on its stablecoin, the Digital CHF (DCHF), a press release on Mar 16 reveals.
The bank is launching a 3-month Digital CHF (DCHF) fixed-term deposit product in a Swiss negative interest rate environment.
Sygnum is Trailblazing
To earn positive yields, CHF holders must convert their fiat to DCHF through Sygnum’s integrated account. Here, owners can buy DCHF, BTC, ETH, and a range of other digital currencies using CHF, USD, SGD, and the Euro.