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LIVE – Updated at 07:35

The price of bitcoin is once again on the ascendency, jumping by nearly 10 per cent overnight to take it back above $35,000 on Monday morning.

Other leading cryptocurrencies have benefitted from a resurgent crypto market, with all of the top 10 most valuable cryptocurrencies seeing gains at the start of the week.

Ethereum (ether) saw the biggest boost, jumping by nearly 20 per cent since Saturday.

Bitcoin’s return to the green has been partly spurred on by news from Mexican billionaire Ricardo Salinas that the bank he founded, Banco Azteca, could become the first in Mexico to accept the cryptocurrency.

In less positive news, leading crypto exchange Binance has been forced to respond to reports that it could be banned in the UK. A statement read: “The FCA UK notice has no direct impact on the services provided on Binance.com.

You can follow all the latest analysis, expert commentary and price predictions right here.

Dogecoin price surges pending major update

07:35 , Anthony Cuthbertson

The price of dogecoin is back above $0.25 after a proposal for a major new update to its network was published.

The Fee Policy change proposal would see the cost of a standard dogecoin transaction, which currently stands at 1 DOGE, reduce by 100-times.

“Since inception, the goal of dogecoin has been to be accessible to everyone, but with current exchange rates, transacting DOGE is kept artificially higher than instated on bitcoin’s and litecoin’s chains,” it states.

The proposal has so far received broad support from the dogecoin community, including from Tesla boss and crypto advocate Elon Musk. The tech billionaire said on Monday that it was “important to support” the change.

You can read the full story here:


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Dogecoin price surges after Elon Musk supports ‘important’ update

Bitcoin price ‘feels very 2013’

Monday 28 June 2021 16:43 , Anthony Cuthbertson

Bitcoin appears to have entered a momentary period of stability, at least relatively speaking.

It has briefly peaked above $40,000 and dipped below $30,000 over the last six weeks, but it has mostly spent its time trading within this $10k price range.

Analysts remain divided over which direction bitcoin’s price will head in the second half of 2021, with patterns from previous bull runs in 2013 and 2017 suggesting it could go either way.

One analyst who believes there will be new record highs this year is the pseudonymous Dutch trader PlanB. His Stock-to-flow model allows for short term volatility, while also projecting major gains over the long term. Are we just seeing a dip before a new all-time high?

Binance ‘ban’ confuses UK users

Monday 28 June 2021 12:18 , Anthony Cuthbertson

A ruling from the UK’s Financial Conduct Authority (FCA) that bans leading crypto exchange Binance from conducting any “regulated activity” in the country has prompted fears that users will not be able to access their accounts.

The FCA notice only concerns Binance Markets Limited (BML), which is yet to launch its UK business. This means the ruling will have no direct impact on anyone using the exchange from the UK.

“Our relationship with our users has not changed,” the Cayman Islands-based firm tweeted. “We take a collaborative approach in working with regulators and we take our compliance obligations very seriously.”

Part of the FCA announcement also warned people to be weary of any adverts promising high returns from cryptocurrency investments.

Mexico billionaire plans bitcoin bank acceptance

Monday 28 June 2021 11:51 , Anthony Cuthbertson

Mexican billionaire Ricardo Salinas Pliego is working towards making his bank the first in his country to accept bitcoin.

A significant chunk of his wealth is already tied up in bitcoin, having previously said in an interview last week that “all of bitcoin’s benefits, in my opinion, are sufficient to make it the modern world’s gold”.

Mexico’s third wealthiest person, whose net worth is $13.2 billion, was responding to a tweet from MicroStrategy CEO Michael Saylor, whose own company has invested billions of dollars into bitcoin.

Salinas also tweeted Saylor to say: “I really hope your big ‘all in’ bet with MicroStrategy pays off. BALLS OF STEEL.”

Bitcoin price back in the green

Monday 28 June 2021 11:43 , Anthony Cuthbertson

Bitcoin is currently leading a market-wide recovery that has seen several leading cryptocurrencies jump by between 5-20 per cent since the weekend.

The turnaround appears to have been sparked by news out of Mexico that a major bank will accept bitcoin, as well as positive developments elsewhere in the world. However misleading reports concerning the crypto exchange Binance appears to have stalled the bounce back on Monday morning.

We’ll be bringing you all the latest developments right here throughout the day.

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