Bitcoin price news LIVE – Ethereum & BTC rise as Twitter boss Jack Dorsey gets behind crypto plus Dogecoin & Cardano
- Will the cryptocurrency market recover?
- Today's cryptocurrency market value in USD and GDP
Twitter co-founder Jack Dorsey has thrown his weight behind the future of Bitcoin has he backed the importance of the cryptocurrency.
“Bitcoin changes absolutely everything,” said yesterday at the Bitcoin 2021 Conference. “I don’t think there is anything more important in my lifetime to work on.”
He added that, “if I were not at Square or Twitter, I would be working on bitcoin. If [bitcoin] needed more help than Square or Twitter, I would leave them for bitcoin. But, I believe both companies have a role to play.”
It comes after Elon Musk said he "misses" Bitcoin after the market's recent comeback stalled yesterday as several major coins took a tumble.
The posted a meme about a couple breaking up over excessive quoting of Linkin Park lyrics. Mr Musk with “#Bitcoin” and a heartbreak emoji.
And Bitcoin, Ethereum, Cardano and Dogecoin all fell again after having trended upwards for much of Friday.
The market movements come as Elon Musk took to Twitter to post memes mocking the market downturn.
The multi-billionaire Tesla chief - whose social media activities move the crypto markets like nobody else's - posted memes of couple's breaking up tagged with #Bitcoin and a broken heart emoji.
Read our cryptocurrency live blog below for the very latest updates...
INDIA’S CRYPTO INDUSTRY CREATE RULE BOOK
India’s leading cryptocurrency players have joined forces to create a rule book and establish itself as a serious business in the finance world.
The likes of WazirX, CoinDCX, and CoinSwitch Kuber have teamed up with the Internet and Mobile Association of India to set up an advisory board, according to The Economic Times.
It will be set up under the Blockchain and Crypto Assets Council (BACC), part of IAMAI, and will act as a self-regulatory organisation for the sector.
EXPLAINED: WHAT IS DOGECOIN?
Dogecoin is a cryptocurrency and was first launched back in 2013. Dogecoin has the image of a Shiba Inu dog as its logo.
The image became a popular internet meme called doge, and it features the dog surrounded by text in the comic sans font with words like “much wow”.
Software engineers Jackson Palmer and Billy Markus originally created Dogecoin as a joke based on this meme.
It has been marketed as the “fun” version of bitcoin but has gained in value and attracted more serious interest since then. Two weeks after it first launched, the value of it jumped 300% after China banned banks from investing in cryptocurrencies, according to Investopedia.
ELON MUSK SENDS BITCOIN, DOGECOIN AND ETHERIUM VALUES PLUNGING WITH LINKIN PARK MEME TWEET ABOUT ‘THE END’
ELON Musk sent Bitcoin’s value into free fall after he posted a meme about Linkin Park with the hashtag #Bitcoin and a broken heart emoji.
The CEO of SpaceX and Tesla tweeted a meme of a split couple discussing lyrics from Linkin Park’s hit In the End suggesting a breakup – like the billionaire’s relationship with Bitcoin.
“Her: I know I said it would be over between us if you quoted another Linkin Park song but I’ve found someone else,” the meme . “Him: So in the end it didn’t even matter?”
Accompanying the meme, which showed a man and a woman distantly sitting next to each other on a couch, was the hashtag #Bitcoin and a broken heart emoji.
The billionaire’s tweeting caused Bitcoin’s value to decrease by six percent, while other cryptocurrencies like Ethereum (by seven percent) and Dogecoin (by eight percent) also nosedived.
In a subsequent , Musk posted another meme of a woman facetiming a man saying “I miss you,” and “why are you crying” said the woman, with the man replying “cuz I miss you too.”
BITCOIN 2021 CONFERENCE: SPEAKER LINE-UP AND WHAT TO EXPECT
BITCOIN 2021, “the biggest Bitcoin event in history” is set to take place in Miami and more than 20,000 people are expected to attend.
It comes after the from after hitting record highs.
WATCH: ELON MUSK SENDS BITCOIN, DOGECOIN AND ETHERIUM VALUES PLUNGING WITH LINKIN PARK MEME TWEET ABOUT ‘THE END’
Elon Musk sends Bitcoin, Dogecoin and Etherium values PLUNGING with Linkin Park meme tweet about ‘the end’BITCOIN BOMBS
The price of Bitcoin has dropped once again today, after Tesla and SpaceX boss Elon Musk’s cryptic “breakup” tweets.
Musk shared a meme on Twitter featuring a breakup on Thursday evening, showing an unhappy looking couple.
HOW MUCH DID BITCOIN FALL BY ON FRIDAY? LATEST VALUES FOR ETHEREUM AND DOGECOINAccording to CNET reports, Bitcoin fell more than 4.5%, to around $36,823 as of 9 a.m. PT on Friday.
“Ethereum, Dogecoin and other cryptocurrencies were also down,” the reports read.
The value of Bitcoin plummeted even further towards the end of Friday, to $37,772.
By Saturday morning,
The Wall Street Journal added, “Ether dropped 4.2% from its 5 p.m. Thursday level to $2,702.23. Dogecoin, another favorite of Mr. Musk’s, declined 4.7% to about 38 cents”.
EXPLAINED: WILL CHAINLINK GO UP IN VALUE?
Chainlink is currently trading at $31.77 at the time of writing on Thursday afternoon, according to Coindesk.
That’s up 2% in the last 24 hours and around 32% since Sunday, when it was trading at $23.71.
But while Chainlink has been surging, like other cryptocurrencies it can easily tumble again and it’s difficult to predict when.
Chainlink hit an all time high of $51.24 on May 10, but the cryptocurrency crashed later in the month.
It’s still trading at around 40% less than that record high
ELON MUSK'S MEME TWEETS RECEIVE BACKLASH ON TWITTER
Musk's tweets were met with plenty of backlash from Twitter users, including the co-creator of Dogecoin Billy Markus, who "Elon... I put my trust in you."
In response, Musk another meme "Dogecoin is just made up money with an infinite supply."
"I will buy all the #Bitcoin that Elon Musk sells," said entrepreneur Justin Sun.
Musk made news last month when he said Tesla would no longer accept Bitcoin payments for electric cars, causing a slight drop in the cryptocurrency.
"Tesla has suspended vehicle purchases using Bitcoin. We are concerned about the rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel," he tweeted.
EXPLAINED: WILL THE CRYPTOCURRENCY MARKET RECOVER?
Cryptocurrencies like Bitcoin and Ethereum have dropped in value after making steady made gains over the last week.
The market has seen a slow recovery from plummeting last month after hitting record highs.
Thursday saw all the major currencies on CoinMarketCap up for the first time in a while. But this growth appeared to stall on Friday morning with currencies like Bitcoin and Ether returning to the red and the market dropping by around 6%.
The price of Bitcoin – the largest cryptocurrency – is currently around $36,700 – down around 6%, loosing gains it had recently made.
More on the story here.
HOW TO SPOT CRYPTO SCAMS
CRYPTO scams are popping up all over the internet. We explain how to spot them.
- Promises of a high or guaranteed return – Does the offer look realistic? Scammers often attract money by making fake promises.
- Heavy marketing and promotional offers – If they are using marketing tricks to con customers you should beware.
- Unamed or non-existent team members – Just like any business you should be easily able to find out who is running it.
- Check the whitepaper – Every crypto firm should have a white paper. This should explain how it plans to grow and make money. If this doesn’t make sense, then it could be because the founders are trying to confuse you.
- Do your research – Check reviews online and Reddit threads to see what other people think.
CRYPTOCURRENCY DEALERS IN HOT WATER
IN an investigation set up by the Financial Conduct Authority, the City regulator, it has emerged that up to 50 companies dealing in cryptocurrencies such as bitcoin may be forced to close after failing to meet the UK’s anti-money laundering rules.
It was announced yesterday that an “unprecedented number” of companies had withdrawn applications from a temporary permit scheme that allowed firms to continue trading until the regulator could approve or reject their operations.
A large number of firms have fallen short of anti-money laundering standards put in place to halt criminal organisations from disguising the source of their money.
Fines or legal action will be issued by the FCA to companies that refuse to shut their businesses down.
ELON MUSK SENDS BITCOIN, DOGECOIN AND ETHERIUM VALUES PLUNGING WITH LINKIN PARK MEME TWEET ABOUT ‘THE END’
ELON Musk sent Bitcoin's value into free fall after he posted a meme about Linkin Park with the hashtag #Bitcoin and a broken heart emoji.
The CEO of SpaceX and Tesla tweeted a meme of a split couple discussing lyrics from Linkin Park's hit In the End suggesting a breakup - like the billionaire's relationship with Bitcoin.
"Her: I know I said it would be over between us if you quoted another Linkin Park song but I've found someone else," the meme . "Him: So in the end it didn't even matter?"
Accompanying the meme, which showed a man and a woman distantly sitting next to each other on a couch, was the hashtag #Bitcoin and a broken heart emoji.
The billionaire's tweeting caused Bitcoin's value to decrease by six percent, while other cryptocurrencies like Ethereum (by seven percent) and Dogecoin (by eight percent) also nosedived.
In a subsequent , Musk posted another meme of a woman facetiming a man saying "I miss you," and "why are you crying" said the woman, with the man replying "cuz I miss you too."
HOW TO SPOT CRYPTO SCAMS
CRYPTO scams are popping up all over the internet. We explain how to spot them.
- Promises of a high or guaranteed return – Does the offer look realistic? Scammers often attract money by making fake promises.
- Heavy marketing and promotional offers – If they are using marketing tricks to con customers you should beware.
- Unamed or non-existent team members – Just like any business you should be easily able to find out who is running it.
- Check the whitepaper – Every crypto firm should have a white paper. This should explain how it plans to grow and make money. If this doesn’t make sense, then it could be because the founders are trying to confuse you.
- Do your research – Check reviews online and Reddit threads to see what other people think.
EXPLAINED: WILL CHAINLINK GO UP IN VALUE?
Chainlink is currently trading at $31.77 at the time of writing on Thursday afternoon, according to Coindesk.
That’s up 2% in the last 24 hours and around 32% since Sunday, when it was trading at $23.71.
But while Chainlink has been surging, like other cryptocurrencies it can easily tumble again and it’s difficult to predict when.
Chainlink hit an all time high of $51.24 on May 10, but the cryptocurrency crashed later in the month.
It’s still trading at around 40% less than that record high
EXPLAINED: WHAT IS CHAINLINK?
Chainlink is a cryptocurrency that was created in 2014 but launched on the market in 2017.
It was founded by Sergey Nazarov, a 32-year-old entrepreneur, who had previously set up tech platform Smartcontract.com. Chainlink is also a ledger technology – using “blockchain”, like Bitcoin – that companies are using to build new programmes.
A blockchain is where encrypted data can be transferred securely, making it nearly impossible to duplicate or counterfeit. This ledger is the foundation of any cryptocurrency transaction.
The cryptocurrency allows people to trade currency or assets digitally outside of any government or bank.
But Chainlink also aims create a “link” between blockchain and real world applications to open up possibilities for the technology to be used more widely.
EXPLAINED: THE 5 RISKS OF CRYPTO INVESTMENTS
THE Financial Conduct Authority (FCA) has warned people about the risks of investing in cryptocurrencies.
- Consumer protection: Some investments advertising high returns based on cryptoassets may not be subject to regulation beyond anti-money laundering requirements.
- Price volatility: Significant price volatility in cryptoassets, combined with the inherent difficulties of valuing cryptoassets reliably, places consumers at a high risk of losses.
- Product complexity: The complexity of some products and services relating to cryptoassets can make it hard for consumers to understand the risks. There is no guarantee that cryptoassets can be converted back into cash. Converting a cryptoasset back to cash depends on demand and supply existing in the market.
- Charges and fees: Consumers should consider the impact of fees and charges on their investment which may be more than those for regulated investment products.
- Marketing materials: Firms may overstate the returns of products or understate the risks involved.
ELON MUSK SENDS BITCOIN, DOGECOIN AND ETHERIUM VALUES PLUNGING WITH LINKIN PARK MEME TWEET ABOUT ‘THE END’
Elon Musk sends Bitcoin, Dogecoin and Etherium values PLUNGING with Linkin Park meme tweet about ‘the end’EXPERTS DISCUSS CHAINLINK
Susannah Streeter, a senior analyst at Hargreaves Lansdown said: “Chainlink’s price has been fuelled by speculation by many traders trying to sniff out short term gains rather than belief in its fundamental long term use case.
She added: “With such volatility, competition in the market and uncertainty surrounding nascent technology, traders should take an extremely cautious approach and only dip their toe into the market with money they can afford to gamble.’’
Matt McKenna, spokesman at Finder also said: “Chainlink’s price has been following the wider crypto market, which saw a huge sell off during May.
“Over the past month it is down roughly 20%, but has been showing signs of recovery in the last few days.
“As with all cryptocurrencies, people should be prepared for extreme volatility, and the very real risk of losing money.”
EXPLAINED: WILL THE CRYPTOCURRENCY MARKET RECOVER?
Cryptocurrencies like Bitcoin and Ethereum have dropped in value after making steady made gains over the last week.
The market has seen a slow recovery from plummeting last month after hitting record highs.
Thursday saw all the major currencies on CoinMarketCap up for the first time in a while. But this growth appeared to stall on Friday morning with currencies like Bitcoin and Ether returning to the red and the market dropping by around 6%.
The price of Bitcoin – the largest cryptocurrency – is currently around $36,700 – down around 6%, loosing gains it had recently made.
More on the story here.
CRYPTOCURRENCY DEALERS IN HOT WATER
IN an investigation set up by the Financial Conduct Authority, the City regulator, it has emerged that up to 50 companies dealing in cryptocurrencies such as bitcoin may be forced to close after failing to meet the UK’s anti-money laundering rules.
It was announced yesterday that an “unprecedented number” of companies had withdrawn applications from a temporary permit scheme that allowed firms to continue trading until the regulator could approve or reject their operations.
A large number of firms have fallen short of anti-money laundering standards put in place to halt criminal organisations from disguising the source of their money.
Fines or legal action will be issued by the FCA to companies that refuse to shut their businesses down.
ELON MUSK SUGGESTS HE 'MISSES' BITCOIN IN FOLLOW UP MEME ON TWITTER
EXPLAINED: WHAT HAPPENS AT BITCOIN 2021?
The two-day cryptocurrency event at Wynwood’s Mana Convention Center is expected to feature special guests, BTC activations and "the chance to celebrate the world’s best technology with all of your internet friends IRL."
General tickets cost $1,500 and are already sold out.
Visitors who splashed $20,000 for a "whale pass" will get an extra day and various other perks such as Celebrity Suite tickets to fight and a Tony Hawk Meet-and-Greet Pass.
HOW TO SPOT CRYPTO SCAMS
CRYPTO scams are popping up all over the internet. We explain how to spot them.
- Promises of a high or guaranteed return - Does the offer look realistic? Scammers often attract money by making fake promises.
- Heavy marketing and promotional offers - If they are using marketing tricks to con customers you should beware.
- Unamed or non-existent team members - Just like any business you should be easily able to find out who is running it.
- Check the whitepaper - Every crypto firm should have a white paper. This should explain how it plans to grow and make money. If this doesn't make sense, then it could be because the founders are trying to confuse you.
- Do your research - Check reviews online and Reddit threads to see what other people think.
EXPLAINED: WILL CHAINLINK GO UP IN VALUE?
Chainlink is currently trading at $31.77 at the time of writing on Thursday afternoon, according to Coindesk.
That’s up 2% in the last 24 hours and around 32% since Sunday, when it was trading at $23.71.
But while Chainlink has been surging, like other cryptocurrencies it can easily tumble again and it’s difficult to predict when.
Chainlink hit an all time high of $51.24 on May 10, but the cryptocurrency crashed later in the month.
It’s still trading at around 40% less than that record high