Cryptocurrency News: Bitcoin Falls, BlockFi Files For Bankruptcy - Investor's Business Daily

BREAKING: China Protests Weigh On Stock Market

Cryptocurrency News: Cryptocurrency prices are down Monday as China Covid lockdown protests send global markets lower following the holiday weekend. Scroll down to catch up on the latest headlines.
Crypto lender BlockFi officially filed for bankruptcy on Monday after reporting “significant exposure to FTX.”
FTX lawyers say a substantial amount of the bankrupt crypto exchange’s assets are missing or stolen. Meanwhile, Cathie Wood keeps buying Coinbase (COIN) and GBTC stock.
Genesis says it doesn’t plan to file for bankruptcy imminently. But the crypto broker and parent Digital Currency Group still face a major liquidity crunch, and fears of the fallout sent Bitcoin lower Monday.
With sky-high volatility, here’s how to generate income on Bitcoin right now.
Click here to jump to more on today’s Cryptocurrency News.
Bitcoin shed more than 2% by Monday afternoon, falling near $16,200 from its overnight high above $16,500. The world’s largest cryptocurrency is fighting to stay above two-year lows as fears of a liquidity contagion stemming from the FTX bankruptcy could spread throughout the industry. Bitcoin traded above $21,000 at the beginning of the month, prior to the unraveling of FTX.
Ethereum sank more than 3.6% Monday, falling to $1,170 from $1,215 last night. The #2 crypto traded above $1,600 prior to the FTX collapse.

Scroll down for more cryptocurrency news and price updates.
Digital asset investments are extremely volatile. While cryptocurrency’s fundamentals and technical indicators may differ, investors should focus on the same key objectives. First, stay protected by learning when it’s time to sell, cut losses or capture profits. Second, prepare to profit if the cryptocurrency starts to rebound.
Despite their original promise, cryptocurrencies haven’t acted as hedges against inflation. Instead, they’ve trended with the broader indexes. Read The Big Picture and Market Pulse to track daily market trends.
View IBD’s Best Cryptocurrencies And Crypto Stocks To Buy And Watch page to help navigate the world of digital asset investments.
Want a deeper dive into crypto? Check out the What Is Cryptocurrency? explainer page.
How Crypto’s Collapse May Have Done The Economy A Favor
The FTX Fallout Is Laying Crypto Bare. It’s Now Sink Or Swim For The Industry
Who’s Who In The FTX Collapse: From Sam Bankman-Fried To Caroline Ellison
Off The Books: FTX, Alameda Neglected To Keep Records Of Transactions
Want market-driving info delivered straight to your inbox? Sign up for IBD’s new daily newsletter by clicking the image below.

YOU MIGHT ALSO LIKE:
Get Stock Lists, Stock Ratings And More With IBD Digital
Find Stocks To Buy And Watch With IBD Leaderboard
Identify Bases And Buy Points With MarketSmith Pattern Recognition
Use Swing Trading Strategies To Find Opportunities & Manage Risk
11/25/2022 Crypto News Weekly Wrap-Up: Catch up on the top headlines from the past week
11/25/2022 Crypto News Weekly Wrap-Up: Catch up on the top headlines…
(© Dave Cutler)
Get instant access to exclusive stock lists, expert market analysis and powerful tools with 2 months of IBD Digital for only $20!
Get market updates, educational videos, webinars, and stock analysis.
Learn how you can make more money with IBD’s investing tools, top-performing stock lists, and educational content.
Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the stocks they discuss. The information and content are subject to change without notice.
*Real-time prices by Nasdaq Last Sale. Realtime quote and/or trade prices are not sourced from all markets.
Ownership data provided by Refinitiv and Estimates data provided by FactSet.
© 2000-2022 Investor’s Business Daily, LLC. All rights reserved

source

How To Make Huge Profits In A Short Time With Crypto
Get detailed training system that shows an absolute beginner (without any skill) how to make huge profits in a short time with crypto.