Last Updated : June 16, 2021 / 10:06 AM IST
Top cryptocurrency news on June 16: Major stories on Bitcoin, Ethereum and Dogecoin
A daily round-up of the most interesting articles on cryptocurrencies like Bitcoin, Ethereum and Dogecoin to help jump-start the day.
Crypto market is in the red
Cryptocurrency prices are in the red on June 16, with the market down 1.11 percent. In fact, cryptocurrency investment products and funds saw outflows for a second straight week, with ether posting record outflows as institutional investors took a step back, data from digital asset manager CoinShares showed. Total crypto outflows hit $21 million for the week ending June 11. Bitcoin however is in the green at $39,991.13. Here are the details.
Bitcoin will reach $250,000 by end of 2022 or early 2023: CAL 3 Chairman Tim Draper
Despite the cryptocurrency Bitcoin’s wild swings in value and the turmoil, billionaire venture capitalist and bitcoin investor Tim Draper is confident about his prediction that bitcoin will reach $250,000 by the end of 2022 or early 2023, reports CNBC. “I think I’m going to be right on this one. I’m either going to be really right or really wrong (but) I’m pretty sure that it’s going in that direction,” CNBC quoted Draper as saying. Earlier in 2018, the CAL 3 chairman first made the bold price prediction when bitcoin was trading around $8,000, according to Coinbase. The bitcoin investor believes the currency is going to be ‘much more in use by then’. Read more here
Everything You Needed To Know About How Cryptos Work
With the almost daily news coverage of cryptocurrencies, things can get overwhelming if you don’t exactly understand how the world of digital currencies works. Which is why we’ve put together an easy-to-understand guide explaining the main terminologies that make cryptocurrencies work. From blockchains to crypto mining to P2P, here’s what you need to know about cryptocurrencies and how they work. Read this piece to find out more
Meme Cryptocurrencies: From hot favourites in crypto world to miffed regulators
If you are one of those who track the investment space in technology, you must have come across the hot favourite cryptocurrency news and forums that are now raving about meme coins that have become the object of speculation frenzy. For example, Tesla and SpaceX chief Elon Musk has been the most popular crusader of meme currency Dogecoin. We thus bring you a look at all the other meme currencies that have also sprung up. Read the details here.