Bitcoin price – live: Crypto market bounces back as dogecoin founder thanks Elon Musk


The price of bitcoin returned above $40,000 on Wednesday, marking a big recovery from Sunday when it was trading at just above $30,000 – less than 50 per cent of its all-time high from April. The latest dip was brought about by China announcing yet another crackdown on crypto mining, though more positive news in the space has helped boost the crypto market.

Major cryptocurrencies including Ethereum (ether), Cardano (ada) and dogecoin rallied by between 5 and 15 per cent overnight and were trending upwards on Wednesday morning.

The market rebound at the start of the week has been partly assisted by comments from Elon Musk that he has been in talks with bitcoin miners about renewable energy solutions, as well as news that hedge fund billionaire Ray Dalio has invested in bitcoin.

A number of prominent analysts remain optimistic about bitcoin’s prospects, with some speculating that the bull market is “just warming up”.

You can follow all the latest updates right here.

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Dogecoin founder says thank you to Elon Musk

Dogecoin co-founder Billy Markus has thanked Elon Musk for clarifying his stance relating to the meme-based cryptocurrency.

The Tesla CEO has been dogecoin’s most prominent cheerleader during this latest market rally, with his tweets and comments often pushing it to new record highs.

“Doge has dogs and memes,” he said. “The others do not.”

Anthony Cuthbertson26 May 2021 09:48

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Bitcoin price back above $40,000

The price of bitcoin is back above $40,000 on Wednesday morning for the first time since last week. It’s been several days now of steadily recuperating its losses, with $40k proving to be a key resistance point.

Passing the milestone, which it only passed for the first time in its history back in February, appears to have also given a boost to other major cryptocurrencies.

Cardano (ada), Ethereum (ether) and Binance Coin were all up by between five and 15 per cent overnight, with the latest gains also meaning that the crypto market is now up week-on-week and heading back towards that $2 trillion market cap.

Anthony Cuthbertson26 May 2021 07:36

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How Elon Musk’s ‘green’ solution to bitcoin mining may already exist

Elon Musk has once again caused a stir within the crypto world by revealing that he is in discussions with bitcoin miners in an effort to address climate concerns within the industry.

The Tesla CEO, who withdrew support for cryptocurrency payments earlier this month, hinted at a “potentially promising” solution, but gave no further details.

There are already a number of mining operations that use renewable energy, as well as various crypto projects that do away with the vast energy requirements altogether.

The Independent’s Joe Sommerlad takes a deeper look at what Musk might be alluding to. You can read all about it here.

<p>The Lefdal Mine in Norway now houses a bitcoin mine running off 100 per cent renewable energy</p>

The Lefdal Mine in Norway now houses a bitcoin mine running off 100 per cent renewable energy

(The Independent)

Anthony Cuthbertson25 May 2021 15:52

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‘Crypto is our last hope for financial independence’ – John McAfee

Imprisoned cyber security pioneer John McAfee has been tweeting about the promise offered by cryptocurrency from his cell in Spain.

The founder of the eponymous antivirus software is currently being detained on tax evasion charges in a prison just outside Barcelona, but also faces a lawsuit for allegedly promoting cryptocurrencies in order to profit from them.

“The war [between government and cryptos] is on and I am a major target,” he says. “Do not be afraid. Crypto is our last hope for financial independence.”

I interviewed McAfee back in November about his latest stint behind bars. You can read about it right here.

Anthony Cuthbertson25 May 2021 13:17

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‘Crypto is our last hope for financial independence’ – John McAfee

Imprisoned cyber security pioneer John McAfee has been tweeting about the promise offered by cryptocurrency from his cell in Spain.

The founder of the eponymous antivirus software is currently being detained on tax evasion charges in a prison just outside Barcelona, but also faces a lawsuit for allegedly promoting cryptocurrencies in order to profit from them.

“The war [between government and cryptos] is on and I am a major target,” he says. “Do not be afraid. Crypto is our last hope for financial independence.”

I interviewed McAfee back in November about his latest stint behind bars. You can read about it right here.

Anthony Cuthbertson25 May 2021 13:17

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Making sense of the crypto market price turmoil

The price of bitcoin has partly recovered from the crash that briefly took it below $31,000, but it remains a long way off the $64,000 all-time high it saw last month.

Ethereum, dogecoin and other major cryptocurrencies have also experienced massive volatility in recent weeks, so in an effort to make sense of the crypto market chaos we invited two experts to take your questions about the current state of the cryptocurrency space.

Dr Iwa Salami, a senior lecturer in financial law at the University of East London, and Fred Schebesta, a crypto advocate and founder of the comparison platform Finder.com, joined me at the end of last week in a 45 minute Q&A session.

Is this the end of the great 2020/21 bitcoin bull run? Which other cryptocurrencies are they excited about? And what are their price predictions for 2021 and beyond?

You can find out the answer to these questions and more right here:

Anthony Cuthbertson25 May 2021 12:22

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Elon Musk has ‘potentially promising’ solution to bitcoin’s environmental problems

Less than two weeks after announcing that Tesla will no longer accept bitcoin payments due to environmental concerns, Elon Musk has tweeted that there may be a “potentially promising” solution.

The technology billionaire and crypto advocate revealed that he has met with bitcoin miners in North America about renewable operations – a trend that has increased significantly in recent years according to the latest data.

The last time Musk tweeted about bitcoin and its negative impact on the climate, the price crashed massively. If there is a solution that would encourage Tesla and others to begin accepting payments, we could see a similar movement for the crypto market, though this time in the other direction.

Anthony Cuthbertson25 May 2021 10:11

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The face of dogecoin

Dogecoin is currently trading at around 50 per cent of the all-time high it hit earlier this month, but remains more than 8,000 per cent up from the start of the year.

The massive price rally has brought a new generation of meme-loving fans to the fun-loving crypto, though few may know the story of the Shiba Inu pup that inspired it.

Japanese rescue dog Kabosu may have aged a bit since that famous photo was taken, but you’ll be pleased to know that she’s still alive and well and enjoying life with her pet pals in Tokyo.

The Independent’s Joe Sommerlad has looked into Kabosu’s backstory, revealing how she went from a cruel puppy farm to become the face of dogecoin.

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Anthony Cuthbertson25 May 2021 08:17

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Hedge fund billionaire reveals he owns bitcoin

Ray Dalio, the billionaire founder of leading hedge fund Bridgewater Associates, has revealed for the first time that he has “some bitcoin”.

Speaking in a pre-recorded interview set to be broadcast during CoinDesk’s Consensus conference, Dalio said: “Personally, I’d rather have bitcoin than a bond.”

He is the latest figure from the world of traditional finance to express interest in cryptocurrencies, joining fellow billionaire Stanley Druckenmiller in shunning fiat systems.

Earlier this year, Dalio wrote that bitcoin and other cryptocurrencies could “fill that growing need” as an alternative store of value, adding weight to the theory that bitcoin has become a form of digital gold.

Anthony Cuthbertson24 May 2021 18:32

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Crypto crash the start of the ‘great unwind’?

Prominent crypto enthusiast Mark Cuban has labelled the latest market downturn the “Great Unwind”.

The star of NBC’s Shark Tank and owner of the Dallas Mavericks NBA franchise has been a vocal advocate of dogecoin and other cryptocurrencies in recent years, and remains hopeful that “the best platforms will do well over the long term”.

The Independent’s Gino Spocchia has the full story here:

Anthony Cuthbertson24 May 2021 15:24



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