Category Archives: Bitcoin

AccuWeather

Life-long educator Stephen Ritz began his career as an ordinary teacher, unaware that his destiny would lead him to provide food to those in need while encouraging healthy habits and attendance in school. "One day during a classroom fight -- literally where I thought a student was going to grab a weapon -- he reached under the radiator and came out with a handful of daffodils and the rest is history," Ritz told AccuWeather's Lincoln Riddle in a recent interview. Ritz's mission started by accident that very moment in 2000 but has since evolved and gained the attention of the pope, his community and the internet. "I was gifted a box of bulbs, daffodil bulbs and didn't even know what they were and kind of threw them away and hid them behind an old radiator in the back of a building," Ritz explained. Water and heat from the radiator caused the bulbs to grow, which inspired what is now called "The Green Bronx Machine," an educational project that feeds not only the mind but the stomach as well. That year, Ritz and his students from Public School 55 planted 25,000 daffodil bulbs across New York City. Since then, Ritz has developed a curriculum that is being used across the country in academic classes from math and science to social studies. "I grow vegetables. My vegetables grow students," Ritz said. "My students grow schools, and my schools grow community." His curriculum helps transform performance metrics and changes health outcomes for students, not only in the Bronx but for 50,000 students across America. "Our attendance here is off the hook. We've moved targeted attendance from 40% to 93%," Ritz said. And it gets them involved in their communities. "We orchestrated the door-to-door delivery of over 100,000 pounds of food," Ritz said. He went on to say that the effort that emerged since the turn of the millennium has been remarkable. "We gave birth to the first edible classroom in all of New York City, which routinely grew enough food to grow a vegan lunch for 450 students. It has now since evolved into the National Health, Wellness and Learning Center where we grow food, generate energy, have solar power, people power, along with a very rigorous academic program," Ritz said. Ritz said that when he started with the urban farm movement, he wanted to get the excitement of growing food seasonally into classrooms so it could be something that would be useful 12 months a year, not just for the two months that school was out. In Ritz's book, The Power of a Plant, the longtime teacher explains he wound up taking over a school and classroom with children who were really disconnected. And, perhaps surprisingly, the project didn't stem from him having background in science or agriculture. "You know, the interesting part of my story is I have no science background. None of it. I'm not a horticulturist. I'm not an agriculturist," Ritz said. But that didn't stop him from achieving his destiny of helping children. "Whether our children are hungry, malnourished, poorly nourished, input equals output. So in order to fuel their bodies and their brains, input is essential," Ritz said. Consumption of fruits and vegetables in childhood increases the risk of future, noncommunicable diseases, including cardiovascular disease, according to the National Institute of Health. "The ability to go from being a consumer of something that is marketed to you, often without your control, to being able to produce your own food and bring it home to your family and to those in need is game-changing," Ritz said. CLICK HERE FOR THE FREE ACCUWEATHER APP The hard work being done by the Green Bronx Machine has even been recognized by Pope Francis and TV legend Oprah Winfrey. "It was so cool to get a get-out-of-school note for that day and have a letter from the pope. But remarkably, the pope has sent people here to observe our classroom," Ritz said. However, Ritz says that what he's doing is not just helping people, it's also helping the planet. "Every time I keep a burger out of a child's belly and replace it with a fresh salad or a banana, think of the footprint reduction," Ritz said. "When we teach children about nature, we teach them to nurture and when we teach children to nurture, we as a society collectively embrace our better nature," Ritz explained. Ritz likes to say he's growing citizens. "You can't go from seed to harvest without cultivation in the middle and what we're really doing is cultivating children and cultivating the future," Ritz said. Additional reporting by Lincoln Riddle and Bryan Conyers. Keep checking back on AccuWeather.com and stay tuned to the AccuWeather Network on DirecTV, Frontier, Spectrum, FuboTV, Philo, and Verizon Fios.

Follow this link:
Here's where you can shop with Bitcoin and other crypto - Yahoo Money

The crypto market generally tends to follow bitcoin, however, over the past few sessions ethereum has taken a big lead in terms of returns over the worlds biggest cryptocurrency, bitcoin.

Over the past seven sessions, ethereum has delivered a return of 5.5% against -12.4% return given by bitcoin. As of 6.50pm IST on Thursday, bitcoin was trading 1% lower at $54,914.92, while the worlds second-biggest crypto asset was more than 9% higher at $2,593.87, a fresh lifetime high.

According to experts, there are multiple factors working in favor of the altcoin. Altcoin is a cumulative term to define cryptocurrencies that came after bitcoin.

The recent price movement of bitcoin indicates consolidation. This is a healthy pullback and will provide long-term stability to the worlds largest crypto asset. Ether is rallying because of the launch of ethereum exchange-traded fund (ETF) on a Canadian exchange, which is seen as a major step towards making digital assets, mainstream. Ether is expected to break above $3,000 this month," said Shivam Thakral, CEO, BuyUcoin.

Moreover, technical factors are also not working in favor of bitcoin, which has a market capitalization of over $1 trillion.

Recently, bitcoin closed below its 50-Day simple moving average (SMA) for the first time since 8 October 2020. According to global cryptocurrency exchange, Kraken, the move lower coupled with bitcoins inability to immediately get back over the 50-day SMA suggests that the bears could be taking control of the market in the short term.

Until it closes above the 50-day SMA, one can expect bitcoin to remain rangebound between $51.000 and $58,000 historical relevant support and resistance levels, respectively, Kraken said in a note.

According to experts, this divergence between ether and bitcoin over the last few days has both short-term and long-term forces behind it. Over the past year, a lot of investors who got into bitcoin have become aware of ethereum and started diversifying their crypto portfolios. Thats why youve seen ether in a general strong uptrend since early 2020. That trend has gotten stronger as the news of Eth 2.0 has become better known. That innovation is going to lower fees and open up many new opportunities for innovation," said Vikram Rangala, chief operating officer of ZebPay.

While bitcoins most well-known use case is as a store of value, ethereum has several use cases. Its a software platform for things like non-fungible tokens and financial services, among others.

Investors are learning that. In March, with the Coinbase IPO and other bullish bitcoin news, some investors may have sold their ether to move into bitcoin. Now that this bitcoin rally seems to be ending, people are taking profits and moving value back into their long-term ether investments," Rangala added.

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

Read this article:
Why is ethereum on a tear of late, outperforming bitcoin? - Mint

ZUG, Switzerland, April 23, 2021 /PRNewswire/ --Bitcoin Association, the Switzerland-based global industry organisation that works to advance business with the Bitcoin SV (BSV) blockchain, today announces that it has appointed two new Ambassadors for the Asia-Pacific region as part of its global ambassador programme, with George Siosi Samuels appointed as Ambassador for the South Pacific and Masumi Hamahira appointed as another Ambassador for Japan.

Bitcoin Association Ambassadors are experienced professionals from the Bitcoin SV ecosystem who work to raise awareness and improve understanding of the Bitcoin SV blockchain and BSV digital currency, as well as the power of the original Bitcoin protocol to support a massively scaled distributed data network for the world. With today's additions, there are now 22 Bitcoin Association Ambassadors representing 23 different countries and territories.

George Siosi Samuels is the managing director of Fai, a community tech consultancy working to bridge gaps between communities and technology, particularly in small and developing nations and regions. Fai is working together with BSV ecosystem companies nChain and Elas Digital to help the Pacific island nation of Tuvalu build using the BSV blockchain - the world's first national digital ledger to become the world's first paperless society. In addition, Samuels is the founder of Hon, a BSV blockchain-based social accountability platform that can be utilised across a range of different use cases, including the ability to improve the productivity of remote workers worldwide. Hon was voted the #1 judges' choice during the Draper University Pitching Competition run by venture capitalist Tim Draper's organisation.

Masumi Hamahira is a veteran financial executive, having spent 22 years working for MUFG - the world's fifth-largest bank - including in Malaysia. An expert in the requirements of Islamic Finance, Hamahira also serves on the board of directors for the Chartered Institute of Islamic Finance Professionals (CIIFP). Supporting BSV initiatives in his individual capacity (rather than on behalf of MUFG or CIIFP), Hamihara is an initial member of the Bitcoin SV Technical Standards Committee and already serves as Bitcoin Association's Ambassador for Malaysia. Having relocated from Malaysia to Tokyo, Japan, Hamahira now will also act as a Bitcoin Association Ambassador in Japan (adding to efforts of Ken Shishido, the Association's first appointed Ambassador for the country).

Speaking on today's announcement, Bitcoin Association Founding President Jimmy Nguyen, commented:

"As Bitcoin SV continues to demonstrate its utility across a variety of business use cases all over the world, especially in countries in Asia-Pacific, we continue to expand our global Bitcoin Association team to help spread the word and support the ongoing BSV growth story. Both George and Masumi have demonstrated ability as leaders in their respective business fields and as strong advocates for BSV, making them ideal candidates to be new Bitcoin Association Ambassadors for the Asia-Pacific region."

Speaking on his appointment as Bitcoin Association Ambassador to the South Pacific, George Siosi Samuels, said:

"I see huge potential for the Pacific region, not just for BSV adoption, but for the underlying utility of the technology and its ability to offer leapfrogging development that will facilitate future social, cultural and economic growth. While the Pacific region is often overlooked because of its remoteness, I believe that our Pacific nations will be able to draw on our history as master ocean explorers and translate that into mastering the new digital ocean enabled by Bitcoin technology."

Speaking on his appointment as a Bitcoin Association Ambassador to Japan, Masumi Hamahira, said:

"I foresee Bitcoin SV as a driver for innovation as a global public blockchain protocol in the same way that the Internet protocol did, just as I see great potential in Japan for sophisticated corporates to use BSV in new and unique ways. In my new role, I will work to enhance the awareness of BSV among regulators, lawyers, industry associations, developers and academia by leveraging my network as a global banker and working so that we see the beautiful dawn of Bitcoin SV from the Land of the Rising Sun."

About Bitcoin Association

Bitcoin Associationis theSwitzerland-basedglobal industry organization that works to advance business on the Bitcoin SV blockchain. It brings together essential components of the Bitcoin SV ecosystem enterprises, start-up ventures, developers, merchants, exchanges, service providers, blockchain transaction processors (miners), and others working alongside them, as well as in a representative capacity, to drive further use of the Bitcoin SV blockchain and uptake of the BSV digital currency.

The Association works to build a regulation-friendly ecosystem that fosters lawful conduct while facilitating innovation using all aspects of Bitcoin technology. More than a digital currency and blockchain, Bitcoin is also a network protocol; just like Internet protocol, it is the foundational rule set for an entire data network. The Association supports use of the original Bitcoin protocol to operate the world's single blockchain on Bitcoin SV.

Logo: https://mma.prnewswire.com/media/1218683/Bitcoin_Association_Logo.jpg

SOURCE Bitcoin Association

Link:
Bitcoin Association appoints new ambassadors for Japan and the South Pacific to advance Bitcoin SV - PRNewswire

Dogecoin (DOGE) fell sharply reaching a 24-hour low of $0.164 near press time on Thursday night. The cryptocurrency traded 31.04% lower at $0.21 at press time. Even as the meme cryptocurrency continues to slide, other coins such as Bitcoin Gold (BTG) and Solana (SOL) are on a run.

See Also: How to Buy Dogecoin (DOGE)

BTG: The 2017 fork of Bitcoin (BTC) can be mined on common Graphics Processing Units instead of ASIC hardware.

BTG has soared 1,382.34% since the beginning of this year. At press time, the currency topped the 24-hour list of gainers, as per CoinmarketCap, and traded 18.25% higher at $101.42.

Last week, Binance, announced trading support for a number of BTG trading pairs.

See Also: Is Now The Time To Buy Bitcoin Gold, KuCoin, PancakeSwap, BitTorrent, IOTA, Or Dent Cryptocurrencies?

The apex cryptocurrency by market cap, BTC, has spiked 73.51% since January and traded 7.8% lower at $49,857.98 at press time.

SOL: The coin of the open-source project centered on Decentralized Finance or DeFi is often touted as an Ethereum (ETH) killer.

SOL has skyrocketed 2,326.5% since 2021 began. The cryptocurrency traded 6.93% higher at $36.64 at press time and has risen 32.44% on a seven-day trailing basis.

Comparatively, ETH has returned 203.02% on a year-to-date basis. ETH traded 7.11% lower at $2,242.10 at press time.

Solana claims it can process 65,500 transactions per second, which is faster than Ethereums current average of 18.3, Cointelegraph reported.

This speed advantage has attracted DeFi projects to its network. Multiple projects have made it to the blockchain in the past month.

Read Next: Dogecoin Creator Says Meme Coin's Development Has Kept Pace With Bitcoin

2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Link:
Dogecoin Falls Below 20 Cents, Bitcoin Below $50K Amid Wide Sell-Off, But These Two Cryptos Are On A Run Today - Benzinga

Fifty and twenty pounds bank notes and a bitcoin logo are seen in this photo illustration.

Omar Marques | SOPA Images | LightRocket via Getty Images

LONDON Britain is the latest country to join a global race toward central bank digital currencies.

"We're launching a new taskforce between the Treasury and the Bank of England to coordinate exploratory work on a potential central bank digital currency," U.K. Finance Minister Rishi Sunak said at a fintech industry conference on Monday.

In a separate statement, the Bank of England said such a currency would be a "new form of digital money issued by the Bank of England and for use by households and businesses" that exists alongside cash and bank deposits rather than replacing them.

The U.K. government hasn't yet decided whether to introduce a digital version of the British pound, but said it would explore the "objectives, use cases, opportunities and risks" involved if it were to proceed. The Bank of England will also set up a unit within the institution dedicated to exploring a central bank digital currency.

It comes as several central banks race to figure out their own strategies for central bank digital currencies, or CBDCs. The rise of bitcoin and other cryptocurrencies has given new impetus to such initiatives, as well as the broader trend of declining cash usage.

Bitcoin surged to a record high of $64,829 last week ahead of the highly-anticipated debut from cryptocurrency exchange Coinbase. But the world's most popular digital coin sank sharply over the weekend due to fears around regulation.

A spike in the value of meme-inspired token dogecoin, meanwhile, has led to concerns of a potential bubble in the cryptocurrency market. As of Monday, bitcoin was trading at about $56,740, up 3% in the last 24 hours.

Another factor driving central banks' work on CBDCs is private stablecoin projects such as the Facebook-backed Diem Association and a controversial token known as tether. Such currencies attempt to peg their market value to some external reference, such as the U.S. dollar, to avoid volatile price swings that are common in most cryptocurrencies.

China appears to be charging ahead of other major countries on CBDCs. The People's Bank of China has been carrying out a number of tests with the digital currency in major cities and a top official said Sunday that thecentral bank could trial the digital yuan with foreign visitors at the 2022 Beijing Winter Olympics.

Continue reading here:
UK to explore issuing its own digital currency amid bitcoin boom - CNBC

Microsoft co-founder Bill Gates is betting on the total collapse of Bitcoin,analysts believe as cryptocurrency plunged 15% over the weekend, reported Express. The dip in the value of Bitcoin came after a record high of over $64,000 on April 14 following the stock market debut of Americas largest exchange for the tokens, Coinbase Global Inc. Even though the prices remained steady after that, the value is reportedly still down by nearly 12% from last week. Reportedly, Gates believes that things will continue to get only worse with passing time.

In a video titled Bill Gates: The Bitcoin Panic of 2021, stock market analysis YouTube channel MHFIN claimed, Gates has been talking about the cryptocurrency for quite a while...Its pretty obvious hes not a fan. But why is he still pessimistic about the cryptocurrency and why is he betting on a total collapse?

The video dates back to former Microsoft CEOs remarks in 2013 when he called the cryptocurrency tour de force and an area where governments are going to maintain a dominant role. the analysis then fast-forwarded to another interview of gates in 2021 where his opinion on Bitcoins changed entirely. He said, I dont own Bitcoin, Im not shorting it, so I take a neutral view...Moving money into a digital form and getting transaction costs down is something the Gates Foundation does in developing countries.

He added, But there we do it so you can reverse transactions, so you have total visibility of who's doing what...But Bitcoin can go up and down just based on mania. You dont have a way of predicting how it will progress. However, the video then added that Gates remarks imply that he is clear in his mind that Bitcoin is a bubble which will burst.

On April 13, the price of Bitcoin hit a record high of $ 64,000. A day before, Bitcoin had broken its previous record of an all-time high. But it fell by more than 9% on Sunday and has now dropped to over 15%, as per the data by CoinDesk. Several other cryptocurrencies also plunged with Ether, the second-largest dropping over 10% to $2,145.

Here is the original post:
Bill Gates betting on total collapse of Bitcoin as cryptocurrency slumps: Analysts - Republic TV

The last few times Nikolaos Panigirtzoglou witnessed such negative price action in Bitcoin, buyers returned in time to prevent deeper slumps. This time, the JPMorgan Chase & Co. strategist is worried.

If the largest cryptocurrency isnt able to break back above $60,000 soon, momentum signals will collapse, strategists led by Panigirtzoglou wrote in a note Tuesday. Its likely traders including Commodity Trading Advisers (CTAs) and crypto funds were at least partly behind the buildup of long Bitcoin futures in recent weeks, as well as the unwind in past days, they said.

Over the past few days Bitcoin futures markets experienced a steep liquidation in a similar fashion to the middle of last February, middle of last January or the end of last November, the strategists said. Momentum signals will naturally decay from here for several months, given their still elevated level.

Whether we see a repeat of those previous episodes in the current conjuncture remains to be seen, the strategists said. The likelihood it will happen again seems lower because momentum decay seems more advanced and thus more difficult to reverse, they added. Flows into Bitcoin funds also appear weak, they said.

Bitcoin rose as high as $64,870 around the time of the Nasdaq listing of Coinbase Global Inc., but has retreated back below $60,000. The cryptocurrency is still up about 90% year-to-date.

More:
JPMorgan warns of bitcoin weakness as futures get liquidated - Economic Times

Longtime value investorBill Millertold CNBC on Tuesday he believes bitcoin is firmly entering into the mainstream, contending the cryptocurrency's rally in recent months is significantly different from its 2017 ascension and subsequent plunge.

In an interview on "The Exchange," the founder and chief investment officer of Miller Value Partners said he believes bitcoin still has room to run to the upside. The world's largest cryptocurrency by market value traded around $55,800 on Tuesday afternoon. It's already rallied around 90% year to date, according to Coindesk.

"Supply [of bitcoin] is growing 2% a year and demand is growing faster. That's all you really need to know, and that means it's going higher," said Miller, who first started to buy bitcoinaround 2014 or 2015at an average cost of $350 per coin.

However, he acknowledged the historically volatile bitcoin will likely continue to experience sharp price swings, like the one that transpired over the weekend, knocking the digital coin below $60,000. Last week, it reached an all-time high of almost $65,000.

Miller said the rally in 2017 was, in fact, a bubble that ultimately burst. It's different now, he argued, saying, "I don't think this is a bubble at all in bitcoin. I think this is now the beginning of a mainstreaming of it."

Bitcoin saw its price soar in 2017, reaching what was then a record high of nearly $20,000 that December. It went on to fall sharply in the following months, losing about 80% of its value in what's become known as the "crypto winter."

"Even back then during the bubble, it went down 20% on five different occasions so with bitcoin, volatility is the price you pay for performance," added Miller, who managed a fund that beat theS&P 500for 15 straight years while at Legg Mason.

Bitcoin traded below $11,000 as recently as October, but its rally gained steam in the fall and carried over into 2021.

Institutional adoption has been cited as one factor for bitcoin's rise, with companies such as Tesla buying the digital coin using cash on its balance sheet. A pair of major Wall Streetbanks Morgan Stanleyand Goldman Sachs also are taking steps toprovide wealth management clients exposureto bitcoin.

Miller said he shares in the belief held by other crypto bulls that bitcoin is "digital gold."

Scarcity is a fundamental characteristic of bitcoin, with its total supply capped at 21 million tokens. Currently, there are 18.69 million bitcoins in circulation, according to Coindesk. New bitcoins come into the market as a reward for so-called miners, who use high-powered computers to verify transactions across the decentralized network.

"Gold is about a $10 trillion asset category and bitcoin is $1 trillion, and it's infinitely divisible or almost so," Miller said. "It's easily transportable and can be sent anywhere in the world if you have a smart phone so it's a much better version, as a store of value, than gold."

Go here to see the original:
Bitcoin rally this year is the start of going mainstream, not a bubble, says investor Bill Miller - CNBC

Yuriko Nakao | Getty Images

Bitcoin's big swing in prices over the weekend likely set the stage for a period of consolidation before the cryptocurrency can make another move higher.

The digital currency lost as much as 15% over the weekend, and rival coins like ethereum also fell.

Bitcoin traded around $55,970 at 4 p.m. ET. Some crypto-linked equities were lower. Coinbase lost nearly 2.6%. Meanwhile, Voyager Digital lost 9.6%, and Marathon Digital Holdings lost 8.7%.

"There's been a lot of rumors and speculation about what pushed the market down over the weekend. To me, it's boiled down to excess leverage within the system," said Leeor Shimron, Fundstrat vice president of digital asset strategy. "We've seen it over the last couple of weeks, especially in bitcoin, but it spilled into other asset classes as well."

Shimron said there was a big deposit of bitcoin over cryptocurrency exchange Binance over the weekend, which helped fuel speculation.

"When the sell-off happened this weekend, approximately $5 billion worth of bitcoin contracts was liquidated, and $9.5 billion was liquidated including altcoin markets," Shimron said.

"Notably, this is twice the notional value compared to Black Thursday 2020, when bitcoin's price dropped by ~50% in 24 hours. The fact this sell-off resulted in a drop of just 15% and quickly rebounded speaks to how much the market has grown and matured over the course of the last year."

Bitcoin tumbled below its 50-day moving average in weekend trading and was again below it Monday. The cryptocurrency recently traded close to $65,000, but was at around $55,900 Monday afternoon, according to Coin Metrics.

Julian Emanuel, head of equities and derivatives strategy at BTIG, said he expects bitcoin to trade in a range between $50,000 and $65,000 after the weekend shakeout. He said it could have entered a period of lower volatility while it consolidates before moving higher again.

Emanuel said he is watching the 50-day moving average at around $56,500.

A break below the 50-day moving average for a significant period of time warns of negative price momentum.

"The spike yesterday was to a low of $51,707. I would define it as literally the point of maximum frustration," Emanuel said. "If you're a bull or a bear, everyone has been keying off the 50-day moving average, and we think the best outcome is you stay pinned to the point of maximum frustration so volatility can come in and the price can correct."

"It's our expectation right now and our wish for the long-term health of the crypto market that we have a correction in time whereby both the bulls and the bears are frustrated by the price action," he said.

Bitcoin went on a tear to near $65,000 ahead of the recent Coinbase debut on the Nasdaq, which was seen as a new lure to bring investors into crypto assets. "The least healthy thing would be a near-term break to the downside or the upside for the range we established over the last week," Emanuel said.

Fundstrat's Shimron said he went into the weekend seeing the $60,000 level as the key level bitcoin should hold. But it failed and bitcoin moved closer to $50,000 temporarily

"I would not be surprised to see a greater period of consolidation for the next couple of weeks or so until $60,000 is regained," Shimron said. "We think bitcoin is going to move higher for the rest of the year, even if we consolidate over the next few weeks."

Fundstrat expects bitcoin to reach $100,000 by the end of the year.

Katie Stockton, chief technical strategist at Fairlead Securities, said if bitcoin closes below the 50-day moving average two days in a row, its next move could be to the support level around $42,000.

"I think right now, until we see the decisive breach of the 50-day moving average, we're keeping a neutral short-term bias," she said.

Stockton said on the upside for bitcoin, her next target is $69,000.

She said she is not surprised by the sell-off after the big surge. "It makes sense that any steep uptrend is prone to create digestion," Stockton said.

Become a smarter investor withCNBC Pro.Get stock picks, analyst calls, exclusive interviews and access to CNBC TV.Sign up to start afree trial today.

Read this article:
After a wild weekend, bitcoin could take a breather before the next move higher - CNBC

It's been a wild few days for bitcoin.

The cryptocurrency fell close to $52,000 on Sunday, sharply off its record high set last week above $64,800. The sell-off was tied to rumors of a regulatory crackdown in the U.S., a common fear for bitcoin investors.

But, taking a step back, that kind of a move looks par for the course for bitcoin, according to Oppenheimer head of technical analysis Ari Wald.

"Let's put some things in perspective," Wald told CNBC's "Trading Nation" on Monday. "In August, bitcoin suffered a 20% drawdown, a 17% drawdown in November, 31% in January, 26% in February, 18% March, and now more recently down 16% about peak to trough. It must have been a tough nine months for bitcoin investors, right? Nope! ... Through that period from the August peak into the recent low, bitcoin is up 315%."

Its 12-month chart looks even better. Over the past year, bitcoin has risen more than 680%.

"This is a very volatile currency day to day. I think that's the important point here. It may not be suitable for all investors. There's really no damage to the trend on this, though, but there's a trade-off between risk and reward. To get the big upside reward it has to come with substantial downside risk," said Wald.

Nancy Tengler, chief investment officer at Laffer Tengler Investments, sees a few forces at work in the bitcoin trade. The first, regulatory risk, has been "well telegraphed for some time" and has come to be expected by investors, she says.

The second, a positive driver of sentiment, is increasing adoption.

"We have limited supply and an increasing demand with companies [getting involved] as diverse as Walmart, Visa, Square, Tesla, even Starbucks with an app that you can buy coffee using your bitcoin. So we know the demand is going up," Tengler said during the same interview.

The third is concentration risk. She estimates that 2.4% of bitcoin accounts control roughly 95% of the overall available bitcoin.

It's not just bitcoin seeing big moves in the crypto space. Bitcoin is up 92% this year, while ethereum, ripple and litecoin have enjoyed rallies in the triple digits. The meme cryptocurrency dogecoin is up an eye-popping 8,282% in 2021.

Disclaimer

The rest is here:
Bitcoin's sell-off by the numbers: Oppenheimer puts the latest drop into perspective - CNBC