Bitcoin price news LIVE: Ethereum, BTC rise as Twitter CEO backs crypto amid Elon Musk ‘break up’ meme

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Twitter co-founder Jack Dorsey has thrown his weight behind the future of Bitcoin has he backed the importance of the cryptocurrency.

“Bitcoin changes absolutely everything,” Dorsey said yesterday at the Bitcoin 2021 Conference. “I don’t think there is anything more important in my lifetime to work on.”

He added that, “if I were not at Square or Twitter, I would be working on bitcoin. If [bitcoin] needed more help than Square or Twitter, I would leave them for bitcoin. But, I believe both companies have a role to play.”

It comes after Elon Musk said he “misses” Bitcoin after the market’s recent comeback stalled yesterday as several major coins took a tumble.

The Tesla CEO posted a meme about a couple breaking up over excessive quoting of Linkin Park lyrics. Mr Musk shared the meme with “#Bitcoin” and a heartbreak emoji.

And Bitcoin, Ethereum, Cardano and Dogecoin all fell again after having trended upwards for much of Friday. The market movements come as Elon Musk took to Twitter to post memes mocking the market downturn.

The multi-billionaire Tesla chief – whose social media activities move the crypto markets like nobody else’s – posted memes of couple’s breaking up tagged with #Bitcoin and a broken heart emoji.

  • NEW CRYPTO COINS – A WARNING

    EXPERTS warn investors should ace with “extreme caution

    The price swings can be wild and there is a real risk investors could get burned.

    This is due to the lack of data in which you can base your investment risk on and the increased possibility of scams.

    Cryptocurrency firms aren’t regulated in the way that other financial firms are. This means that you won’t have any protection if things go wrong

  • EXPLAINED: WILL THE CRYPTOCURRENCY MARKET RECOVER?

    Cryptocurrencies like Bitcoin and Ethereum have dropped in value after making steady made gains over the last week.

    The market has seen a slow recovery from plummeting last month after hitting record highs.

    Thursday saw all the major currencies on CoinMarketCap up for the first time in a while. But this growth appeared to stall on Friday morning with currencies like Bitcoin and Ether returning to the red and the market dropping by around 6%.

    The price of Bitcoin – the largest cryptocurrency – is currently around $36,700 – down around 6%, loosing gains it had recently made.

  • GRAPH: WHAT IS THE CURRENT PRICE OF CRYPTO?

    These figures are based over the last 24 hour period.

  • HOW TO SPOT CRYPTO SCAMS

    CRYPTO scams are popping up all over the internet. We explain how to spot them.

    • Promises of a high or guaranteed return – Does the offer look realistic? Scammers often attract money by making fake promises.
    • Heavy marketing and promotional offers – If they are using marketing tricks to con customers you should beware.
    • Unamed or non-existent team members – Just like any business you should be easily able to find out who is running it.
    • Check the whitepaper – Every crypto firm should have a white paper. This should explain how it plans to grow and make money. If this doesn’t make sense, then it could be because the founders are trying to confuse you.
    • Do your research – Check reviews online and Reddit threads to see what other people think. 
  • CRYPTOCURRENCY DEALERS IN HOT WATER

    IN an investigation set up by the Financial Conduct Authority, the City regulator, it has emerged that up to 50 companies dealing in cryptocurrencies such as bitcoin may be forced to close after failing to meet the UK’s anti-money laundering rules.

    It was announced yesterday that an “unprecedented number” of companies had withdrawn applications from a temporary permit scheme that allowed firms to continue trading until the regulator could approve or reject their operations. 

    A large number of firms have fallen short of anti-money laundering standards put in place to halt criminal organisations from disguising the source of their money.

    Fines or legal action will be issued by the FCA to companies that refuse to shut their businesses down.

  • WHAT CRYPTOCURRENCIES HAVE INCREASED THE MOST IN VALUE TODAY, JUNE, 5?

    1. Theta Fuel is up by 12.00%, according to coinbase.com.
    2. Numeraire up by 9.98%
    3. Solana up by 8.49%
    4. 1inch up by 7.10%
    5. Cosmos up by 3.24%
  • WHAT IS RIPPLE’S (XRP) PRICE TODAY, JUNE, 5?

    The value of Ripple (XRP), at the time of writing, was $0.95 (£0.67), representing another significant fall in value over the past few days.

    XRP is a form of digital currency that can be used on the Ripple network.

    It can either be transferred between individuals or banks. For example, if you need to send euros to someone who uses dollars, the Ripple network would convert this into XRP.

    The key difference between the two is that XRP is a coin, while Ripple is a network that allows the transfer of money.

    The founders of Ripple created XPR before the company Ripple existed. 

  • WATCH: BITCOIN TRADER SPEND £500,000 WORTH OF CRYPTO ON DOMINO’S PIZZA BACK IN 2011

    Bitcoin trader spend £500,000 worth of crypto on Domino’s pizza back in 2011
  • HOW RISKY IS ETHEREUMMAX?

    Investing is always a risk but putting cash into cryptocurrencies is even riskier as they are very volatile There’s also scant regulation for cryptocurrency firms, so you likely won’t have any protection if things go wrong.

    Mr Jobson said the recent launch of EthereumMax means it’s “yet to build up a track record to observe trends”.

    He added: “Cryptocurrencies are notorious for wild price swings.

    “It is not uncommon for the value of cryptocurrencies to quickly fall by hundreds. The yo-yoing price of the asset is simply too much for many investors to stomach.

    “Cryptocurrencies, and those involved in the space, remain highly speculative and should only be a tiny portion of a portfolio – whatever your risk appetite is.”

  • WHY IS THE PRICE OF ETHEREUMMAX GOING UP?

    The value of EthereumMax is currently sitting at $0.0000002907, up by 21% over the past 24 hours, according to CoinMarketCap.

    A few weeks ago, EthereumMax claimed to be the only cryptocurrency that can be used to buy official tickets for the pay-per-view boxing fight between boxer Floyd Mayweather and YouTube star Logan Paul.

    This is set to take place on Sunday, June 6 in Florida.

    Myron Jobson, personal finance campaigner of Interactive Investor, told The Sun: “The creators of EthereumMax will hope that the tie up with the star-studded boxing event will help propel the profile of the coin, which is still incredibly new having only launched last month, to new heights.”

  • EXPLAINED: WHAT IS ETHEREUMMAX?

    EthereumMax (EMAX) is a new cryptocurrency token, hosted on the Ethereum blockchain.

    It launched on May 14 and has been listed on CoinMarketCap since May 18.

    There’s a total supply of two quadrillion tokens, according to its website.

    It’s essentially a spin-off of Ethereum, which is the second largest cryptocurrency after Bitcoin.

  • BITCOIN AND ETHEREUM PRICE NEWS – JUNE 5 CRYPTOCURRENCY VALUE IN USD AND GDP

    BITCOIN and Ethereum as well as other cryptocurrencies continue to be volatile as the markets continue their rollercoaster ride.

    The two largest currencies, Bitcoin and Ethereum, have seen prices fluctuate considerably over the past week. The market’s recent comeback stalled yesterday as several major coins took a tumble.

    This included the likes of Bitcoin, Ethereum and Dogecoin which all fell again despite having trended upwards for much of Friday.

    The market movements come as Elon Musk took to Twitter to post memes mocking the market downturn.

    The CEO of SpaceX and Tesla tweeted a meme of a split couple discussing lyrics from Linkin Park’s hit In the End suggesting a breakup – like the billionaire’s relationship with Bitcoin. The meme was accompanied by the hashtag #Bitcoin and a broken heart emoji.

  • GRAPH: WHAT IS THE CURRENT PRICE OF CRYPTO?

    These figures are based over the last 24 hour period.

     

  • NEW CRYPTO COINS – A WARNING

    EXPERTS warn investors should ace with “extreme caution

    The price swings can be wild and there is a real risk investors could get burned.

    This is due to the lack of data in which you can base your investment risk on and the increased possibility of scams.

    Cryptocurrency firms aren’t regulated in the way that other financial firms are. This means that you won’t have any protection if things go wrong

  • WHAT CRYPTOCURRENCIES HAVE INCREASED THE MOST IN VALUE TODAY, JUNE, 5?

    1. NuCypher went down by 18.61% according to coinbase.com.
    2. UMA went down by 10.69%
    3. Kusama is down by 6.52%
    4. Augur is down by 5.89%
  • WHAT CRYPTOCURRENCIES HAVE INCREASED THE MOST IN VALUE TODAY, JUNE, 5?

    1. Theta Fuel is up by 12.00%, according to coinbase.com.
    2. Numeraire up by 9.98%
    3. Solana up by 8.49%
    4. 1inch up by 7.10%
    5. Cosmos up by 3.24%
  • WHAT IS RIPPLE’S (XRP) PRICE TODAY, JUNE, 5?

    The value of Ripple (XRP), at the time of writing, was $0.95 (£0.67), representing another significant fall in value over the past few days.

    XRP is a form of digital currency that can be used on the Ripple network.

    It can either be transferred between individuals or banks. For example, if you need to send euros to someone who uses dollars, the Ripple network would convert this into XRP.

    The key difference between the two is that XRP is a coin, while Ripple is a network that allows the transfer of money.

    The founders of Ripple created XPR before the company Ripple existed. 

  • WHAT IS ETHEREUM’S PRICE TODAY, JUNE, 5?

    At the time of writing on June 5, the second-largest cryptocurrency Ethereum has dropped 0.13% to $2625.15 (£1,854.22), which is still higher then its value a week ago.

    The value of Ethereum had plummeted from $4,260 (£3,002.11) on May 12. Ethereum is a cryptocurrency that was released in 2015. It’s the second largest after Bitcoin.

    It was founded by eight people, one of which is 27-year-old cryptocurrency “celebrity” Vitalik Buterin.

    He recently became the world’s youngest crypto billionaire as Ethereum soared in value. Ethereum is also a ledger technology – using “blockchain”, like Bitcoin – that companies are using to build new programmes.

    A blockchain is where encrypted data can be transferred securely, making it nearly impossible to duplicate or counterfeit.

  • HOW TO SPOT CRYPTO SCAMS

    CRYPTO scams are popping up all over the internet. We explain how to spot them.

    • Promises of a high or guaranteed return – Does the offer look realistic? Scammers often attract money by making fake promises.
    • Heavy marketing and promotional offers – If they are using marketing tricks to con customers you should beware.
    • Unamed or non-existent team members – Just like any business you should be easily able to find out who is running it.
    • Check the whitepaper – Every crypto firm should have a white paper. This should explain how it plans to grow and make money. If this doesn’t make sense, then it could be because the founders are trying to confuse you.
    • Do your research – Check reviews online and Reddit threads to see what other people think. 
  • WHAT IS BITCOIN’S PRICE TODAY, JUNE, 5?

    Despite a brief rise, the price of Bitcoin has started to deplete having dropped by over £1,000 in the past 24 hours.

    The price of Bitcoin is currently sitting at $35952.66 (£25,394.42) on June 5, still well down from its all-time high of $64,621 on April 14 (£45,616).

    Elon Musk‘s comments have continued to impact the cryptocurrency markets. This included when Musk has hit out at Bitcoin’s huge energy use as well as initially pulling Tesla’s support of Bitcoin payments.

    The bitcoin network currently uses more electricity than the entire country of The Netherlands, according to the Cambridge Bitcoin Electricity Consumption Index.

    His about-turn came days after the cryptocurrency plunged when Musk declared that Tesla would no longer accept Bitcoin payments to buy cars.

  • BITCOIN 2021 CONFERENCE: SPEAKER LINE-UP AND WHAT TO EXPECT

    BITCOIN 2021, “the biggest Bitcoin event in history” is set to take place in Miami and more than 20,000 people are expected to attend.

    It comes after the market’s slow recovery from plummeting in May 2021 after hitting record highs.

    Read more here.

  • CRYPTO CONFERENCE IN MIAMI

    Thousands of people descended on Miami for a massive two-day bitcoin conference – a sign the US city is hoping to become the next cryptocurrency hub.

    Billionaire entrepreneur Jack Dorsey, the co-founder of Twitter and payments firm Square, told a crowded auditorium: “I don’t think there’s anything more important in my lifetime to work on.”

    He added: “We don’t need the financial institutions that we have today. We have one that is thriving, that is sound, that is owned by the community, that is driven by the community.”

    With 12,000 participants and all speaker sessions sold out, the Bitcoin 2021 trade show features exhibits from crypto mining companies, crypto traders and bitcoin exchange networks.



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