Facebook Linked In Twitter

Anastasiades: COLA Is Making Up For The Loss Of Income To Some Extent

"Don't Forget Cyprus", Greek Premier Tells US Congress In Historic Address



brought to you by CIPA

Crypto Crash: Bitcoin Losses Nearly Half Its Value And Extends Losses As Market Fails To Rally

Crypto Crash: Bitcoin Losses Nearly Half Its Value And Extends Losses As Market Fails To Rally

Bitcoin continued to plunge on Saturday following Friday’s cryptocurrency market crash, dropping 5.6 per cent to sit below the $35,000 (€30,851) threshold for the first time since August.

The world's biggest and best-known cryptocurrency slipped to $34,448.94 (€30,365.53) at 7.10 PM CET on Saturday, losing $1,878.27 (€1,655.63) from its previous close.

Cryptocurrencies across the board continued to slide in value, with indexes a sea of red still on Sunday.

The price of Bitcoin was, however, up 1.8 per cent from the year's low of $34,000 (€29,970). It’s also plummeted over 40 per cent since its historic high in November when its value reached $68,992 (€60,895.79).

At midday CET on Sunday, it was still down over 17 per cent week-on-week but had recovered 1 per cent to $35,678.42 (€31,449.28), according to

Ether, the coin linked to the Ethereum blockchain network, also dropped 8.4 per cent to $2,352.72 (€2,073.84) on Saturday, losing $189.64 (€167.16) from its previous close.

At 12 pm CET on Sunday, it had rallied around 2 per cent to $2,491.81 (€2,196.44) but was still down 25 per cent week-on-week.

The total market cap fell over 11 per cent on Friday to $1.9 trillion (€1.6 trillion), down from an all-time high of $3.1 trillion (€2.7 trillion) in November, according to data from CoinGecko.

What happened this week to cause a crypto crash?

The losses across the crypto market mirrored similar losses in the traditional stock market, with the Nasdaq 100 shedding around 15 per cent on Friday as well. It was the worst week for the tech-heavy Nasdaq since the start of the COVID-19 pandemic, with over $60 billion (€53 billion) in losses.

In particular, the prospect of a rate hike by the US Federal Reserve is pushing investors away from riskier assets, including cryptocurrency.

In addition, regulators are increasingly concerned about the place of cryptocurrencies in the economy with concerns there will be a further crackdown on digital currency.

The Spanish market regulator strongly regulated advertising for trading platforms this week, and similar measures are being studied elsewhere in Europe, particularly in the UK.

Elsewhere, the Russian Central Bank on Thursday proposed a ban on mining and use of cryptocurrencies in the country, arguing it posed a threat to Russia’s “financial stability and monetary policy sovereignty”.

Source: Euronews


Warhol's Marilyn Monroe Painting Sold For Record-Breaking $195m

An iconic painting of Marilyn Monroe by Andy Warhol has been auctioned for $195m (£158. ...

Bitcoin Falls To Lowest Value Since January As Tumbling Stock Markets Continue To Hurt Crypto

Bitcoin fell to its lowest level since January on Monday as slumping equity markets ...

EU Edges Towards Oil Sanctions On Russia, No Deal Yet

European Union governments moved closer on Sunday to agreeing tough sanctions against ...



Anastasiades: COLA Is Making Up For The Loss Of Income To Some Extent

The cost-of-living adjustment (COLA) is making up for the loss of income to some extent, Cyprus’ President, Nicos Anastasiades said on Tuesday ahead of a ...

Parimatch Tech At The Top Of The List of Cyprus’ Best Workplaces 2022, For Great Place To Work

The strong corporate culture, the people-centric approach and the company values are the elements that lead Parimatch Tech to the Great Place to Work® list ...

EU Forecasts For Cypriot GDP In 2022 And 2023 In Line With Our Forecasts, Finance Ministry Says

The European Commission forecasts for Cypriot GDP for 2022 and 2023, at 2.3% and 3.5% respectively, are in line with the latest forecasts of Cyprus Ministry of ...

"Don't Forget Cyprus", Greek Premier Tells US Congress In Historic Address

Greek Prime Minister Kyriakos Mitsotakis asked on Tuesday the US Congress not to forget Cyprus in a historic address he delivered.

Cyprus Innovation Awards 2022

The submission of applications for the Cyprus Innovation Awards 2022 has just begun. If your company or organization has successfully implemented an ...

Launch Of Tobacco Heating Product gloTM from BAT In Cyprus, With Benefits For The Local Economy And Society

The tobacco heating product gloTM is being launched in Cyprus by BAT, a leading, multi-category consumer goods business. This move is expected to make a ...

MoU On Cooperation Between The Deputy Ministry Of Research, Innovation And Digital Policy And Amazon Web Services

The Deputy Ministry of Research, Innovation and Digital Policy signed today, at the Presidential Palace, a Memorandum of Understanding with Amazon Web Services ...

Fire Safety Week by CNP ASFALISTIKI and Cyprus Fire Service

For the 21st consecutive year, CNP ASFALISTIKI and Cyprus Fire Service, join forces in the common effort that aims to prevent fires and deal with them. ...