Monday, May 23, 2022
  • Login
Upgrade
The Southern African Times
  • Home
  • Southern Africa
  • Global
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
  • Opinion
  • Sports
  • Lifestyle
    • Health
    • Culture
    • Food and Drink
    • Entertainment
  • SAT Jobs
No Result
View All Result
  • Home
  • Southern Africa
  • Global
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
  • Opinion
  • Sports
  • Lifestyle
    • Health
    • Culture
    • Food and Drink
    • Entertainment
  • SAT Jobs
No Result
View All Result
The Southern African Times
No Result
View All Result
Home Just In

Bitcoin falls below $30,000 for the first time in a month

by SAT Reporter
July 20, 2021
in Just In
0
Bitcoin falls below $30,000 for the first time in a month
0
VIEWS

LONDON, (The Southern African Times) – A selloff in Bitcoin accelerated Tuesday, pushing it below $30,000 for the first time in about a month.

The largest digital coin fell 3.6% to $29,667 as of 7 a.m. in New York. Other virtual currencies also retreated, including second-ranked Ether. The Bloomberg Galaxy Crypto Index was down about 4%.

Some traders had viewed $30,000 as a key support that might open the way to more losses if breached. Further big declines from here could rattle the cryptocurrency market and even exacerbate a wider flight from risk assets such as stocks. Global equities are falling due to fears of slowing economic growth and the relentless spread of the delta variant of COVID-19.

“We’re going to need to form another base first before resuming another bull trend,” said Vijay Ayyar, head of Asia Pacific with cryptocurrency exchange Luno in Singapore. “We are going to be ranging between $20,000 and $40,000 for the rest of the year.”

Narratives that had propelled Bitcoin to a mid-April record of almost $65,000 are now being questioned. Some had argued the digital asset could act as a hedge against inflation due to its limited supply. But Bitcoin’s 2% advance this year lags behind the S&P 500’s 13% advance.

“Investors who are allocating to crypto know that volatility is going to be part of it,” Grayscale Investments CEO Michael Sonnenshein said in an interview on Bloomberg TV.

Bitcoin has been hit by many setbacks of late, including China’s regulatory crackdown — partly over concerns about high energy consumption — and progress in central bank digital-currency projects that could squeeze private coins.

The creator of meme-token Dogecoin recently lambasted crypto as basically a sham, and the appetite for speculation is generally in retreat.

Officials around the world are also intensifying scrutiny of cryptocurrencies. On Monday, Treasury Secretary Janet Yellen pushed top U.S. financial regulators to accelerate their consideration of new rules to police so-called stablecoins.

Previous Post

Modest economic rebound expected in Sub-Saharan Africa in 2021/22

Next Post

Fewer women than men will regain work during COVID-19 recovery: ILO

SAT Reporter

Related Posts

Meet Mukuru one of Africa’s fastest-growing Fintech firms in 2022
Finance

Meet Mukuru one of Africa’s fastest-growing Fintech firms in 2022

by SAT Reporter
May 23, 2022
West African Startup Autochek Acquires Morocco’s Online Car Market Kifal
African Start ups

West African Startup Autochek Acquires Morocco’s Online Car Market Kifal

by SAT Reporter
May 23, 2022
Biden launches economic framework aimed at countering China
Asia

Biden launches economic framework aimed at countering China

by SAT Reporter
May 23, 2022
African leaders to attend 2022 World Economic Forum in Davos
Business

African leaders to attend 2022 World Economic Forum in Davos

by SAT Reporter
May 23, 2022
Senegal president to visit Moscow, Kyiv for the African Union
International news

Senegal president to visit Moscow, Kyiv for the African Union

by SAT Reporter
May 23, 2022
Next Post
Fewer women than men will regain work during COVID-19 recovery: ILO

Fewer women than men will regain work during COVID-19 recovery: ILO

Premium Content

Mali Premier Says Seeking New Partners in Terrorism Fight

Mali Premier Says Seeking New Partners in Terrorism Fight

September 19, 2021
The era of big corporates creating thousands of jobs has passed: SA President

The era of big corporates creating thousands of jobs has passed: SA President

February 26, 2021

Africa Must Trade As A Bloc: Size Does Matter In Economics

August 25, 2020

Browse by Category

  • African Continental Free Trade Area
  • African Start ups
  • Algeria
  • Analysis
  • Angola
  • Asia
  • BOTSWANA
  • Botswana
  • Burkina Faso
  • Burundi
  • Business
  • Business
  • Cameroon
  • Central Africa
  • China
  • Climate Change
  • Climate Changev
  • Congo Republic
  • COVID 19
  • Culture
  • Democratic Republic of Congo
  • Eastern Africa
  • Egypt
  • Entertainment
  • Environment
  • Ethiopia
  • Europe
  • Fashion
  • Finance
  • Food
  • Food and Drink
  • Foods
  • Ghana
  • Global
  • Guinea
  • Health
  • Immigration
  • in Southern Africa
  • International news
  • Just In
  • Kenya
  • Lesotho
  • Libya
  • Life Style
  • Lifestyle
  • Malawi
  • Malawi
  • Mali
  • Markets
  • Middle East
  • Mozambique
  • Namibia
  • Nigeria
  • North Africa
  • Opinion
  • Politics
  • Rwanda
  • Senegal
  • Seychelles
  • South Africa
  • South Sudan
  • Sports
  • Startup Africa
  • STOCK EXCHANGE
  • Tanzania
  • Tech
  • Togo
  • Travel
  • Travel
  • Tunisia
  • Uganda
  • Uncategorized
  • West Africa
  • World
  • World
  • ZAMBIA
  • Zambia
  • ZIMBABWE
  • Zimbabwe

Browse by Tags

African business news Africa New Africa News african footballer African investments African manufacturing industry African news African start-up Business Classic Content coronavirus Cyclone Idai Egypt Explore Bali Finance Foods football Health Hopewell Mauwa kwacha Life Style mali news Market Stories MthuliNcube news Odion Ighalo Oilandgas Pandemic Premium reserve bank of Zambia Russia soccer South Africa Southern African News sports Stay Home United Stated Vaccine Work From Home Wuhan Zambia Zimbabwe Zimbabwe Harare Manufacturing Africa Employment creationn Zimbabwe job creation

WHO WE ARE

The Southern African Times is a regional bloc digital newspaper that covers Southern African and the world news. The paper also gives a nuanced analysis on news and covers a wide range of reporting which include sports, entertainment, foreign affairs, arts and culture.

Facebook Twitter Youtube Instagram Rss

Copyright © 2022 The Southern African Times | Powered by The Southern African Times

Privacy Policy

Terms and Conditions

  • Home
  • Southern Africa
  • Global
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
  • Opinion
  • Sports
  • Lifestyle
    • Health
    • Culture
    • Food and Drink
    • Entertainment
  • SAT Jobs

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?