Main navigation

Bitcoin Recovers After Brief Fall Below $40,000

Wed, 22/09/2021 - 12:58
Bitcoin Recovers After Brief Fall Below $40,000
Cover image via
Read U.TODAY on
Google News

The global flagship cryptocurrency has started a gradual recovery after nosediving below $40,000 earlier today.

Bitcoin goes under $40,000 first time since August

After the leading crypto declined lower than $40,000 for the first time since August and got more criticism from financial regulatory agencies, Bitcoin has managed to reverse and reach the $42,000 level.

Earlier today, the largest crypto grew back to the $42,132 level (surging 2.9%) after going down to $39,625 briefly and losing 3.2% on that drop. The top cryptos that follow Bitcoin on the top 10 list—Ethereum, Litecoin and Solana—lost more value in the past 24 hours, however.

Bitcoin Chinese issue relieved

As reported by the media earlier this week, the Bitcoin correction was mainly caused by low sentiment after issues in China. The second-largest housing builder in China, Evergrande Group, was unable to pay out $2 trillion yuan worth of its debts to shareholders.

However, according to CNBC, the company has negotiated a deal for paying interest payments on its domestic bonds on time. Besides, as the CNBC reporter in China said, the local Central Bank (PBOC) has issued a $14 billion stimulus to support the local banking system.

These measures have somewhat calmed down investors' worries for now.

Kim Kardashian’s “Ethereum Max” Ad Was Seen by Third of Crypto Owners

SEC urges Congress to help with crypto regulation

According to Bloomberg, SEC chair Gary Gensler believes that there are certain gaps related to digital currencies that the U.S. Congress could help them solve. In particular, Gensler mentioned the regulation of crypto exchanges.

The SEC agency has recently attempted to regulate Coinbase by threatening to sue them unless the company backs out of its crypto lending project. Finally, CEO Brian Armstrong yielded to that and shelved the product that was preparing for launch.


Latest Press Releases

Cardano Praised by Dan Gambardello As Strong Chain While Avalanche Hit By Outage
Shiba Budz (BUDZ) Novel Meme Coin Pre-Sale Gaining Steam in Late February as Majors Dogecoin (DOGE), Shiba Inu (SHIB) Remain in Tops
Ripple Cofounder Celebrates Major Stellar Success, Polkadot Secures Spot on Coinbase Futures, Shiba Inu Burn Rate Surges 8,511%: Crypto News Digest by U.Today
Ethereum Dencun Upgrade Date Confirmed by Devs
Millions of XRP Shifted by Whales as Price Hits Key Support
Binance Web3 Wallet Announces Massive Crypto Giveaway to Celebrate ERC-404 Integration
Legendary Trader John Bollinger Issues Bullish Wake-Up Call as Bitcoin Price Turns Red
Spot Bitcoin ETFs Break Record With $50 Billion Trading Volume
Ethereum (ETH) Price Prediction for February 23
Solana (SOL) Price Prediction for February 23
BlockDAG Network (BDAG) Pre-Sale Might be Gaining Steam in February since Retik Finance (RETIK), and eTuk Tuk (ETUKTUK) Communities Show Interest
Shiba Inu Developer Excites SHIB Community With Tweet, What It Pertains To
SHIB Army Receives Crucial Warning From Shiba Inu Team
MetaClip (MCLP) Cryptocurrency Sale Campaign Invites Investors as XRP Price Growing
DeeStream (DST) Asset Release Campaign On-Boards Investors as Blur (BLUR), Cosmos (ATOM) Keep Surging
XRP Makes Crucial Price Move, But Massive Roadblock Is Ahead
DeeStream (DST) Crypto Coin Sale Campaign Might be in Spotlight since Shiba Inu (SHIB), Polkadot (DOT) Supporters Waiting for Upgrades
Cardano Founder Hails Elon Musk's X for Crushing ECB's Bitcoin Diss
First ERC404 Token Pandora Shows Explosive Performance as Whales Turn to Buying
Avalanche Faces Downtime, AVAX Price in Red
Our social media
There's a lot to see there, too

Popular articles