Cryptocurrency price LIVE – Bitcoin, Ethereum & Shiba Inu coin recovering after ‘market crash and $300billion sell-off’

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THE crypto market is down $300billion, or 14% since January 5, sparking worry among investors.

Bitcoin’s massive crash saw it drop below $40,000, as fears grow it could hit the dreaded “death cross” indicator.

Bitcoin has dropped steeply over the last seven days, with more than 10 percent being wiped off its price.

As a result, investors became worried about the “death cross” — a bearish indicator charting when the 50-day moving average dips below the 200-day moving average, according to CoinDesk.

However, as of 8.30am ET on Tuesday, Bitcoin had recovered slightly and was back over $41,000, according to CoinBase.

Over the last seven days, Shiba Inu and Ethereum have also struggled.

As of Tuesday morning, Shiba Inu was down more than 18 percent over the last week, while Ethereum was down almost 19 percent, both according to CoinBase.

Read our cryptocurrency live blog for the latest news and updates…

  • What is the Metaverse? continued

    Meta’s VR boss Andrew Bosworth said: “The metaverse is a set of virtual 3D spaces where you can share immersive experiences with each other when you can’t be together.”

    “What comes after the internet? Instead of looking at a screen, you get to be in the experiences.

    “You don’t have to experience it in VR. Most people initially will experience it on screens they already have.”

    Facebook’s Mark Zuckerberg called it “the next version of the internet,” and predicted the true metaverse will be ready within the decade.

  • What is the Metaverse?

    The Metaverse has a broad definition. It is an internet, but it is immersive – so you live within it.

    The platform will have games, social networks, videos, shopping, health and fitness and more.

  • How to create, buy and sell NFTs, part three

    Buying an NFT, like any collectible, is a risky bet on the value going up.

    If there is no demand for the NFT you buy, then you could end up paying a large amount for something that declines in value or that you cannot sell.

    NFTs are still a new market so there is unlikely to be the same demand you will find for other physical items such as trading cards, art, or classic cars.

    You could also create your own NFT but there is no guarantee of a buyer and you could end up wasting your time and money.

    Like Bitcoin, you can buy and sell NFTs on specialized online marketplaces.

  • How to create, buy and sell NFTs, part two

    If you’ve chosen Ethereum as your blockchain, here’s what you’ll need to mint your NFT.

    First sellers will need an Ethereum wallet, such as MetaMask, Trust Wallet or Coinbase Wallet.

    Next you will need around $50-$100 in ether.

    Once you have these, you can connect your wallet and upload the music, image, or file that you want to turn into an NFT.

  • How to create, buy and sell NFTs

    NFTs are tradable, unique items that have taken the internet by storm in recent months.

    Some of the virtual assets have sold for millions of dollars, but most people still have no clue what they are – or where you can buy and sell them.

    To create an NFT, you need to choose what to create — from artwork, music, collectibles, digital trading cards, movies, video footage, and more.

    Then choose which blockchain you want to issue your NFT on and get ready to sell.

  • Cryptocurrency may shut down Kosovo’s power supply

    The mining of cryptocurrencies has often been linked to the high usage of electricity.

    The government of Kosovo has highlighted the adverse effects of cryptocurrency mining on a country’s electricity supply by placing a complete ban on cryptocurrency mining, as the Balkan state grapples with an energy crisis.

    Indeed, the fears of crypto mining on the country’s power supply have forced the government to instruct security services to arrest citizens that defy the order.

  • R.I.P. Mr Goxx, the crypto-trading hamster

    Sadly, Mr Goxx, the crypto-trading hamster, passed away on November 23.

    The tragic news was shared on Mr Goxx’s official Twitter account.

    “We feared this day like no other and are truly shocked for it to happen just now,” Mr Goxx’s Twitter account tweeted on Wednesday.

    “In deep sorrow, we have to announce the loss of our beloved furry friend.”

    The account continued: “Being with us as a pet for quite a while, he became famous out of nowhere. Mr. Goxx has brought joy to people all across the globe and reminded us not to take life too seriously.

    “He shed light into dark moments of pandemic, inflation and many kinds of trouble.”

  • ‘Decision tunnels’

    The amount to be traded is determined when Goxx runs through one of two “decision tunnels”.

    Depending on which tunnel he runs through, the amount he will buy or sell the cryptocurrency changes in 20 euro increments.

    All of the data is rigged to a computer that makes the transactions in real-time on Goxx’s behalf.

  • Goxx’s creators

    Speaking to the BBC, the two 30-something German men behind Mr Goxx the crypto-trading hamster explained that the idea started as a joke.

    “We felt that everything keeps getting more expensive these days and building savings is super-hard to achieve with high rents to pay,” they said.

    “It seems like most people from our generation see no other chance than throwing a lot of their savings on the crypto market, without having a clue what’s going on there.

    “We were joking about whether my hamster would be able to make smarter investment decisions than we humans do.”

  • Crypto-trading hamster, continued

    The four-legged financial fiend was not completing transactions himself, of course.

    Instead, Goxx’s trading decisions were made inside a camera-rigged “office” attached to his regular cage.

    Every day, when he entered the office, a stream was started on Twitch and a tweet was sent out to his followers notifying them that trading had begun.

    The hamster then ran on an “intention wheel” that chose one of 30 different cryptocurrencies to trade.

  • A crypto-trading hamster outperformed market

    hamster in Germany previously traded in cryptocurrencies and consistently outperformed the S&P 500.

    The furry animal, called Mr Goxx, was busy working since June, thanks to a specially adapted cage.

    He determined which currencies to buy or sell by running on his wheel or walking through one of two tunnels.

    Mr Goxx started trading on June 12, 2021.

    The site states that the page is just for fun and does not offer financial advice.

  • What are Altcoins, continued

    Simon Peters, crypto-asset analyst at eToro, said: “They build on the success of bitcoin by slightly changing the rules, economics or use cases to appeal to different users.”

    “Altcoins vary greatly in their use cases and practical application. They typically have a form of technology they underpin or provide a liquidity solution to a product or service.”

  • What are Altcoins?

    Altcoin stands for alternative coin, a type of virtual currency that uses the so-called blockchain to allow secure transactions. 

    Altcoin is a category of cryptocurrency rather than a currency itself, and there are more than 900 different altcoins available.

  • Record crypto investments, part two

    The crypto industry blew up in 2021 with crypto exchanges, start-ups dealing with NFTs, and play-to-earn gaming all highlighted as factors by Fortune.

    Increasing interest in the Metaverse also led to multi-million dollar investments.

  • Crypto investments top $30billion

    Investors contributed a record $30billion to the cryptocurrency industry in 2021, according to Fortune.

    The news outlet cited data from Bloomberg News that reportedly showed $7.2billion came from investors based in the United States.

    The $30billion is almost four times the $8billion that investors spent with companies in the crypto industry in 2018, Fortune reported.

  • Bitcoin milestone, part two

    Bitcoin was created in 2009 by an unknown computer whizz using the alias Satoshi Nakamoto. 

    Data from Blockchain.com on Monday showed 18.9 million of the 20,999,999,9769 possible Bitcoins had been mined.

    It’s a milestone that took 12 years to reach.

    Experts believe the last Bitcoin will be mined in February 2140.

    One Bitcoin is currently worth around $47,000.

    Value could shoot up as the coins become more scarce, experts said.

  • Less than 10 percent of Bitcoin left to mine

    There is less than 10 percent of Bitcoin left to mine as the cryptocurrency passed a major milestone in December.

    Data from Blockchain.com showed 18.9million out of a possible 21million of the virtual coins have been mined.

    Bitcoin is the world’s first entirely virtual currency and new currency is created by mining, a complex online process that uses computer code.

    It involves using a computer to solve a mathematical problem with a 64-digit solution to create new coins.

    For each problem solved, one block of Bitcoin is processed. The miner that is first to solve the problem is rewarded with a new Bitcoin.

    These new coins are then stored virtually through an online database called the blockchain.

  • Sending cryptocurrency on WhatsApp

    WhatsApp, a popular messaging app, is testing a cryptocurrency payment feature for some users in the US.

    Meta, formerly known as Facebook, owns WhatsApp and is letting some users send and receive Pax Dollars.

    Pax currency is deemed a “stablecoin” because it’s connected to the US dollar.

    The feature is powered by Novi, Meta’s digital wallet.

    According to Novi, making payments will be easy, like sending other kinds of attachments in WhatsApp.

    There’s no word on when the cryptocurrency payment feature might roll out to more users and countries.

  • Robinhood prepares to launch cryptocurrency wallet

    Robinhood announced a new partnership with a blockchain data analytics platform ahead of its planned cryptocurrency wallet launch.

    Robinhood will use Chainalysis’ data, analytics, and software to meet compliance requirements and provide secure crypto transactions, Motley Fool reported.

    The partnership comes ahead of the planned 2022 launch of Robinhood’s crypto wallet.

    More than 1.6million people are on a waitlist for the new feature, according to Motley Fool.

  • Risks of Robinhood, part three

    In July, the platform was also ordered to pay nearly $70million in fines and compensation for misleading customers and outages.

    If you are seeking a discount broker and are looking to open an IRA account, you can check out the following platforms: Vanguard, FidelityTD Ameritrade, Merrill Edge, among others.

  • Risks of Robinhood, part two

    For investing individual stocks, make sure you check company reports, Securities and Exchange Commission (SEC) filings, broker notes, and press releases so you can make the best decisions for your money.

    Another risk when choosing Robinhood along with other brokers is that they can restrict trading when there’s unusual activity.

    In fact, Robinhood faced some outrage last year when it restricted trading on meme stocks including GameStop and AMC.

  • Risks of Robinhood

    When it comes to risks, investing alone is one because you’re not guaranteed to generate a profit and the value of your assets could fall.

    If you choose Robinhood to trade stocks and cryptocurrencies – then the game gets even riskier.

    Cryptocurrencies are not only difficult to understand but even tougher to predict when bearish trends in the market will take place.

    For example, cryptocurrency was thriving this year up until Elon Musk said that Tesla was halting the acceptance of payments in Bitcoin.

  • Can you trade crypto on Robinhood?

    Unlike most of its discount rivals, Robinhood offers 24/7 crypto trading through its platform.

    That means you’ll have access to trade major cryptocurrencies including, DogecoinEthereum, and Bitcoin.

    Its crypto investors can buy or sell with a market order, which means it’s executed at the current market price.

  • What is Robinhood, continued

    Unlike many discounted brokers, the company does not offer individual retirement accounts.

    The bulk of Robinhood’s revenue comes from order flow.

  • What is Robinhood?

    The Robinhood platform operates as a discounted brokerage that offers commission-free trading.

    Specifically, users can trade exchange-traded funds (ETFs), individual stocks (including American depositary shares), and options.

    You can also trade Robinhood’s stock thanks to the company recently going public at a $1.2billion valuation.