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Bitcoin, Ethereum decline as China’s crypto crackdown continues The two major digital currencies suffered sharp falls on Sunday after a meeting of China's Financial Stability and Development Committee said the country's finance sector should “crack down on Bitcoin mining and trading behaviour” Bitcoin and Ethereum were among the major cryptocurrencies suffering price declines over the weekend as fears over the ongoing crackdown on digital currencies in China continued to drive a downturn in the market. The world’s two largest cryptos suffered sharp drops overnight following news on ...

Bitcoin recovery stalls as value dips back below US$40,000 In early deals in London, the digital currency was trading at around US$39,923, off its lows during Wednesday's selloff but still down over 12% for the week The recovery of Bitcoin following Wednesday’s meltdown of the crypto markets appeared to have stalled on Friday morning. In early deals in London, the digital currency was down 1.1% at US$39,923, giving it a market cap of US$747bn. While Bitcoin is still trading solidly above the weekly low of around US$34,923 on Wednesday evening at the height of the selloff, the crypto’s val...

Bitcoin is still evolving into a store of value despite crypto market carnage Analysts at digital asset manager CoinShares have said it is "increasingly apparent" that Bitcoin is becoming increasingly financialised, which in turn indicates its "potential utility as a store of value" Bitcoin is steadily evolving into a store of value for investors despite concerns about its viability re-emerging in the wake of the recent crypto market crash, according to new research. In a new report, analysts at digital asset manager CoinShares said the evolution of the digital currency made it “increasing...

Bitcoin donations banned by Greenpeace amid environmental concerns The environmental charity said it will be suspending a facility allowing its supporters to donate using the cryptocurrency amid growing awareness of the amount of energy used in its mining process Environmental activist group Greenpeace has stopped accepting donations in Bitcoin amid growing concerns about the impact of mining the cryptocurrency on global carbon emissions. In FT report on Thursday, the group said it will be scrapping a facility that allows it to accept donations in Bitcoin, saying that while it had not been ...

Bitcoin price will hit US$500,000, says Ark Investment’s Cathie Wood The fund manager and stock picker said the recent plunge in value meant now was "a very good time to buy” and that Bitcoin and other cryptos were currently “on-sale” The boss of Ark Investment Management Cathie Wood has reiterated a previous prediction that the price of Bitcoin will reach US$500,000 despite the digital currency’s recent plunge in value during Thursday’s carnage in the crypto markets. In a Bloomberg interview on Thursday, Wood said that the huge figure was still the fund’s conviction despite th...