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Bitcoin price news live: Dogecoin surges after Elon Musk’s Tesla update as crypto market hangs in limbo

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Bitcoin has seen a slight price rise on Wednesday, surging by nearly 4 per cent to return above $48,000.

Dogecoin is also riding high after Elon Musk announced that Tesla will begin accepting payments in the meme-inspired cryptocurrency.

Its value shot up more than 14 per cent in the space of a few minutes on Tuesday, returning its market cap to around $25 billion.

Other leading cryptocurrencies are struggling to recapture the momentum they saw last month, which took them to new all-time highs. Ethereum (ETH), Solana (SOL) and Ripple (XRP) all dipped by around 5 per cent on Monday, while the overall crypto market is down by a similar margin.

Despite the stagnation, several leading analysts are confident of a resurgence before the end of the year, with some even predicting a record-breaking end to 2021.

You can find all the latest news, analysis and expert price predictions right here.

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German savings banks could offer crypto to millions

A consortium of German savings banks are planning to offer access to bitcoin (BTC), Ethereum (ETH) and other leading cryptocurrencies to up to 50 million customers, according to local reports.

The pilot programme involves launching an in-house crypto wallet and exchange in 2022, the German Savings Banks Association (Sparkasse) told local business magazine Capital.

“More and more consumers are interested in crypto-assets,” a spokesperson confirmed to CoinTelegraph. “One in ten customers of the German Savings Banks states he/she owns or has owned crypto-assets. Considering their expectations, the Savings Banks Finance Group has to look into crypto-assets, too.”

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Anthony Cuthbertson15 December 2021 12:30

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Bitcoin price glitch sees crypto hit $870B on CoinMarketCap

The price of bitcoin spiked to $872 billion on CoinMarketCap after a mysterious glitch.

The fanciful price rise of 1,874,722,432 per cent was actually bettered by Ethereum (ETH), which hit a new all-time high above $81 billion after a 2,169,744,354 per cent surge in value took its fictional market cap above bitcoin’s.

The bizarre price gains were not reflected across crypto exchanges, meaning no one was actually able to cash out at such extreme levels.

CoinMarketCap apologised for the irregularities on Twitter, stating: “We will be rebooting our servers as a final step in accordance with our internal remediation plan.”

(CoinMarketCap)

Anthony Cuthbertson15 December 2021 10:35

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Bitcoin, ethereum, and other cryptocurrencies surge

The prices of bitcoin, ethereum and other cryptocurrencies including dogecoin have surged in the last 24 hours with the overall crypto market growing by over 2 per cent in the last day.

After slipping below the $47,000 mark on Tuesday, bitcoin has surged closer to the $48,000 mark, surging by over 2 per cent in the last 24 hours.

Ethereum has grown by about a per cent in the last day and is priced at about $3,820.

Solana and Cardano have also grown in value by 2 to 4 per cent over the last 24 hours.

Meanwhile, meme coin dogecoin has skyrocketed in value by over 14 per cent after Tesla chief Elon Musk says the company would start accepting the crytpocurrency as a mode of payment for some products.

The global crypto market is showing signs of recovery and is currently valued at $2.18 trillion.

Prices of cryptocurrencies over last 24 hours

(Coin Market Cap)

Vishwam Sankaran15 December 2021 03:12

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Is bitcoin in a bear market?

The latest price dip has led crypto analysts and commentators to question whether bitcoin has entered a bear market after months of bullish gains.

Cryptocurrency investor and popular Twitter commentator Lark Davis has shared a thread explaining why he doesn’t believe bitcoin is looking bearish.

Davis points to various data points and on-chain analysis to back up this opinion, including market sentiment, ramped up support lines and decreasing exchange balances.

“Fear is high, prices are down, BUT fundamentals are strong, on chain data looks good, and technicals are holding up,” he writes.

Anthony Cuthbertson14 December 2021 12:57

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BREAKING: Tesla to accept dogecoin payments – Elon Musk

Tesla will soon start accepting payments in dogecoin, Elon Musk has revealed, though only for merchandise and not for cars.

The price of dogecoin is up more than 14 per cent since the Tesla boss made the announcement via Twitter.

There is still no word on whether the electric car maker will once again begin accepting payments in bitcoin, having introduced and then withdrawn the feature earlier this year.

You can read the developing story here:

Anthony Cuthbertson14 December 2021 11:04

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Deciphering Cryptocurrency: The Independent to host free crypto event

If you’re keen to learn more about bitcoin and the rest of the crypto space, we’re hosting a free online event tomorrow evening.

Joining me (Anthony Cuthbertson) will be crypto expert and Finder.com co-founder Fred Schebesta, as well as Dr Iwa Salami from the University of East London, who is an associate professor in financial law and programme leader in FinTech regulation. There may also be another special guest announced sooner to the time.

We’ll be discussing all that’s happened in 2021, as well as what to expect in 2022. You can ask questions to any of the panel ahead of time, or during the event itself.

It’s taking place at 6.30pm GMT on Wednesday and is completely free to attend. You can register here:

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Anthony Cuthbertson14 December 2021 10:51

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Crypto market re-enters ‘extreme fear’ territory

Bitcoin and the broader crypto market has once again entered a period of “extreme fear”, according to one sentiment-tracking index.

The Bitcoin Fear & Greed Index, which analyses emotions and sentiments from social media, exchanges and other of sources, fell back below 25 (out of 100) overnight.

Just last month, when bitcoin and other leading cryptocurrencies were hitting new all-time highs, the index was in the ‘greed’ territory, with a score of 74. For some cryptocurrency analysts, being in the ‘fear’ zone is seen as a key buy signal.

“Extreme fear, buy. Extreme greed, sell,” one investor recently noted on Twitter. “Rinse and repeat.”

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Anthony Cuthbertson14 December 2021 10:36

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Bitcoin slides by 4 per cent

After inching close to the $50,000 mark on Monday, Bitcoin has slipped down to a value of $47,000, down by about 4 per cent in the last 24 hours.

Other leading cryptocurrencies including ethereum, solana, and cardano are also down by over 5 per cent in the last day.

The overall crypto market is down by about 5 per cent in the last 24 hours, and is currently valued at about $2.14 trillion.

Meme coins dogecoin and its spinoff shiba inu are also down by 4 to 6 per cent in the last 24 hours.

The chart looks all red with no signs of recovery yet.

Prices of cryptocurrencies in the last 24 hours

(Coin Market Cap)

Vishwam Sankaran14 December 2021 03:06

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NFT accidentally sold for 1/100th of its market price

One of the Bored Ape Yacht Club NFTs was accidentally put on the market for one-hundredth of its market price, and swiftly snapped up by a canny buyer.

The seller of Bored Ape number 3,547 put the in-demand NFT on OpenSea for 0.75 ETH ($3,000) instead of 75 ETH ($300,000), blaming a “fat fingered” typing error.

It was purchased before the seller had a chance to click ‘cancel’, most likely by a bot programmed to snap up low-priced Bored Ape NFTs. It was soon back up on the OpenSea marketplace, where it is currently listed for 60 ETH.

Bored Ape Yacht Club 3,547

(OpenSea)

Anthony Cuthbertson13 December 2021 17:38

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Elon Musk discusses crypto with Time

Elon Musk, who was today named as Time’s Person of the Year 2021, has once again been chatting about cryptocurrency.

The world’s richest person laid out his credentials for understanding how money works by reminding the interviewer that he played a fundamental role in the creation of PayPal. He then spoke about the role bitcoin can play as a store of value (which he already does both personally and with SpaceX and Tesla cash reserves), while also warning of its potential limitations.

“Even though it was created as a silly joke, dogecoin is actually better suited for transactions,” he said. “It is slightly inflationary… but that’s actually good as it encourages people to spend rather than to horde it as a store of value.”

Anthony Cuthbertson13 December 2021 16:47

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