{"id":459167,"date":"2022-09-05T06:21:52","date_gmt":"2022-09-05T04:21:52","guid":{"rendered":"https:\/\/mybroadband.co.za\/news\/?p=459167"},"modified":"2022-09-05T06:43:15","modified_gmt":"2022-09-05T04:43:15","slug":"bitcoin-hovers-below-20000","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/cryptocurrency\/459167-bitcoin-hovers-below-20000.html","title":{"rendered":"Bitcoin hovers below $20,000"},"content":{"rendered":"

Bitcoin trended downward through the weekend after a solid\u00a0unemployment report<\/a><\/strong>\u00a0offered mixed implications for the Federal Reserve as it contemplates its path on interest rates.<\/p>\n

The largest cryptocurrency spent time below $20,000 for a ninth consecutive day on Sunday, a session in which it failed to crack above that round-number level at all.<\/p>\n

On several of the days, it\u2019s fallen into the $19,500 range but not below $19,511, its then-record peak from December 2017.<\/p>\n

Bitcoin dropped as much as 0.8% to $19,591 on Sunday and was little changed as of 7:50 a.m. in New York.<\/p>\n

\u201cThe Fed is busy \u2018burning\u2019 money as well (a.k.a. quantitative tightening) to restore the credibility of the US dollar,\u201d a report sent Sunday from Gavekal Research said.<\/p>\n

\u201cThat presents a significant headwind for all cryptocurrencies.\u201d<\/p>\n

Bitcoin has traded largely in the same direction as other risk assets like the Nasdaq 100 as the Fed boosts interest rates amid stubborn inflation.<\/p>\n

Meltdowns like those of the Terra\/Luna ecosystem and hedge fund\u00a0Three Arrows Capital<\/a><\/strong>\u00a0have depressed sentiment as well, and numerous crypto firms have declared bankruptcy or are struggling to survive.<\/p>\n

\"\"<\/a><\/p>\n

\n

Now read: Luno appoints new country manager for South Africa<\/a><\/h3>\n","protected":false},"excerpt":{"rendered":"

The largest cryptocurrency spent time below $20,000 for a ninth consecutive day on Sunday, a session in which it failed to crack above that round-number level at all.<\/p>\n","protected":false},"author":341034,"featured_media":430924,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[44696],"tags":[187,54499],"class_list":["post-459167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin","tag-nasdaq-100"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/459167"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/341034"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=459167"}],"version-history":[{"count":0,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/459167\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/430924"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=459167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=459167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=459167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}