{"id":8011,"date":"2022-07-24T20:07:49","date_gmt":"2022-07-24T17:07:49","guid":{"rendered":"https:\/\/www.forexbrokers.ae\/?p=8011"},"modified":"2022-07-24T20:07:49","modified_gmt":"2022-07-24T17:07:49","slug":"%d8%a7%d8%b1%d8%aa%d9%81%d8%a7%d8%b9-%d8%a7%d9%84%d8%a8%d9%8a%d8%aa%d9%83%d9%88%d9%8a%d9%86-2","status":"publish","type":"post","link":"https:\/\/www.forexbrokers.ae\/en\/crypto-news\/%d8%a7%d8%b1%d8%aa%d9%81%d8%a7%d8%b9-%d8%a7%d9%84%d8%a8%d9%8a%d8%aa%d9%83%d9%88%d9%8a%d9%86-2\/","title":{"rendered":"Bitcoin Resumes Uptrend, Cryptocurrency Weekly Gains"},"content":{"rendered":"<p style=\"text-align: right\">Bitcoin witnessed volatile trading last week, though it ended in the green, with gains of around 13% and currently trading near $23,000, while Ethereum Classic was the best performer over the past week with massive gains of over 55%.<\/p>\n<h2 style=\"text-align: right\"><strong>Bitcoin performance over the past week<\/strong><\/h2>\n<p style=\"text-align: right\">The leading cryptocurrency managed to maintain its bullish momentum over the past week after falling below $19,000 on July 13, as the coin saw strong gains on Saturday and Sunday (July 16 and 17) to enter the $22,000 price range on Monday, and the coin continued to climb until It crossed the $24,000 price on July 20, hitting its highest level in more than a month.<\/p>\n<p style=\"text-align: right\">But after the bad news from Tesla, which indicated it was selling its bitcoin holdings in the second quarter of the year, the leading cryptocurrency retreated and lost nearly $2000. Between the level of 22000 - 23000 dollars<\/p>\n<p style=\"text-align: right\"><a href=\"https:\/\/www.forexbrokers.ae\/wp-content\/uploads\/2022\/07\/btc-3.png\"><img decoding=\"async\" class=\"aligncenter size-full wp-image-8012\" src=\"https:\/\/www.forexbrokers.ae\/wp-content\/uploads\/2022\/07\/btc-3.png\" alt=\"Bitcoin\" width=\"1453\" height=\"756\" title=\"\" srcset=\"https:\/\/www.forexbrokers.ae\/wp-content\/uploads\/2022\/07\/btc-3.png 1453w, https:\/\/www.forexbrokers.ae\/wp-content\/uploads\/2022\/07\/btc-3-300x156.png 300w, https:\/\/www.forexbrokers.ae\/wp-content\/uploads\/2022\/07\/btc-3-1024x533.png 1024w, https:\/\/www.forexbrokers.ae\/wp-content\/uploads\/2022\/07\/btc-3-768x400.png 768w, https:\/\/www.forexbrokers.ae\/wp-content\/uploads\/2022\/07\/btc-3-18x9.png 18w, https:\/\/www.forexbrokers.ae\/wp-content\/uploads\/2022\/07\/btc-3-77x40.png 77w, https:\/\/www.forexbrokers.ae\/wp-content\/uploads\/2022\/07\/btc-3-62x32.png 62w, https:\/\/www.forexbrokers.ae\/wp-content\/uploads\/2022\/07\/btc-3-154x80.png 154w, https:\/\/www.forexbrokers.ae\/wp-content\/uploads\/2022\/07\/btc-3-259x135.png 259w\" sizes=\"(max-width: 1453px) 100vw, 1453px\" \/><\/a><\/p>\n<h2 style=\"text-align: right\"><strong>Tesla suffers from falling prices<\/strong><\/h2>\n<p style=\"text-align: right\">Tesla revealed in its second-quarter earnings report that it sold most of its bitcoin for $936 million, a sale described as \u201cbecause of bitcoin weakness\u201d hurting the electric car maker\u2019s profitability during this period.<\/p>\n<p style=\"text-align: right\">The company disclosed in a US Securities and Exchange Commission (SEC) filing in February 2021 that it had bought $1.5 billion worth of bitcoin, and Tesla subsequently sold 10% of that stake in April 2021.<\/p>\n<p style=\"text-align: right\">However, bitcoin is down nearly 50% from the then-record price of $43,000 achieved in February 2021 after the Tesla purchase was revealed, so the Tesla 75%&#039;s sale of bitcoin holdings represents a huge loss for the company&#039;s investment.<\/p>\n<p style=\"text-align: right\">But the company&#039;s CEO, Elon Musk, said last Wednesday in an earnings conference call that the sale should not be considered a &quot;judgment of bitcoin&quot;, and added that the coins were sold to maximize Tesla&#039;s cash holdings due to the uncertainty surrounding the Covid-19 shutdown.<\/p>\n<p style=\"text-align: right\">Despite the blow caused by news of the Tesla sale, Bitcoin had a relatively good day staying above $23,000 for most of the day, until Tuesday as the market grappled with a crypto winter caused by the collapse and financial struggle of lenders Celsius Network and Voyager Digital. and hedge fund operator Three Arrows Capital, which has filed for bankruptcy.<\/p>\n<h2 style=\"text-align: right\"><strong>Ethereum is on top<\/strong><\/h2>\n<p style=\"text-align: right\">coin rose <a href=\"https:\/\/www.forexbrokers.ae\/en\/crypto\/\">Ethereum Classic<\/a> ETC increased by 55% on a weekly basis, as the coin appears to be benefiting from the hype surrounding the next Ethereum hard fork known as the Merge which many observers view as a potential change for the crypto sector, however, the start date of the consolidation is uncertain, and it also rose Ether (ETH) generated from the 2016 hard fork on a weekly basis at 36% last week, hit a multi-month high of around $1600 earlier last week but bounced back to trade below that level.<\/p>","protected":false},"excerpt":{"rendered":"<p>Bitcoin witnessed volatile trading last week, although its end was in the green, recording a gain of about 13% and is currently trading near the price of $23,000<\/p>","protected":false},"author":2,"featured_media":7057,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_uag_custom_page_level_css":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[264,372],"tags":[133,148],"class_list":["post-8011","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency-news","category-market-analysis","tag-133","tag-148"],"acf":[],"modified_by":"\u0645\u062d\u0645\u062f 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