GateToken (GT-USD) Cryptocurrency is currently on bullish momentum by 108.99% in the last 30 days. At 23:50 EST on Saturday, 15 May, GateToken (GT-USD) is at $8.34.
GateToken (GT-USD) Range
Concerning GateToken’s daily highs and lows, it’s 189.58% up from its trailing 30 days low of $2.88 and 35.15% down from its trailing 30 days high of $12.86.
Crypto Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, GateToken’s crypto is considered to be overbought (>=80).
News about Bitcoin
Crypto fund pantera says Bitcoin energy concern to impact market. According to Bloomberg Quint on Thursday, 13 May, "The head of crypto hedge fund Pantera Capital Management is still bullish on Bitcoin even if some of Elon Musk’s concerns about the token’s energy footprint are valid.", "On Thursday, he reiterated his belief that Bitcoin could still double in the next five to six months, reaching $115,000 by August. "
Crypto stocks rebound after $6.1 billion swoon as Bitcoin churns. According to Bloomberg Quint on Friday, 14 May, "The gains comes as Bitcoin climbs back from a slide of more than 15% on Thursday. ", "Elon Musk’s stunning tweet late Wednesday triggered the free-fall for Bitcoin as the billionaire brought concerns surrounding the energy usage of the mining required for the currency to light and forced Wall Street to grapple with an uncertain outlook. "
Billionaire’s Bitcoin dream shapes his business empire in Norway. According to Bloomberg Quint on Saturday, 15 May, "Though he underpinned his belief that cryptocurrencies still have a future, Musk’s comments this week triggered a sudden Bitcoin selloff. ", "In an interview earlier this year, Governor Oystein Olsen called it "far too resource-intensive, far too costly and most importantly, it doesn’t preserve stability." Concerns over the carbon footprint of Bitcoin mining this week prompted Tesla Inc. CEO Elon Musk — a former fan of the cryptocurrency — to turn his back on it."
What crypto insiders think about Elon Musk’s Bitcoin u-turn. According to Bloomberg Quint on Thursday, 13 May, "Cyptocurrency enthusiasts got a nasty shock Wednesday when Elon Musk, founder of Tesla Inc. and the second-richest person on the planet, announced on Twitter that his automaker wouldn’t accept payment in Bitcoin any more due to environmental concerns.", "This may be the selloff that sets Bitcoin up for new all-time highs," said David Grider of Fundstrat Global Advisors LLC. "
Musk’s Bitcoin concerns sink crypto-linked stocks. According to Bloomberg Quint on Thursday, 13 May, "That puts him at odds with ARK Investment Management LLC’s Cathie Wood, who last month shared research that she said would "debunk the myth that Bitcoin mining" is bad for the environment. ", "Bitcoin plunged as much as 15%, sinking to as low as $46,045 after Musk said he was worried over the "rapidly increasing use of fossil fuels for Bitcoin mining and transactions," and suspended Tesla purchases with the asset, indicating he might favor other cryptocurrencies with much lower energy usage."
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