{"id":138211,"date":"2021-09-09T09:25:13","date_gmt":"2021-09-09T09:25:13","guid":{"rendered":"https:\/\/precoinnews.com\/?p=138211"},"modified":"2021-09-09T09:25:13","modified_gmt":"2021-09-09T09:25:13","slug":"bitcoin-price-climbs-back-above-46000","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/bitcoin-price-climbs-back-above-46000\/","title":{"rendered":"Bitcoin price climbs back above $46,000"},"content":{"rendered":"
FOX Business’ Lauren Simonetti and Strategic Wealth Partners CEO Mark Tepper react to bitcoin prices dropping after El Salvador’s troubled rollout.<\/p>\n
Bitcoin<\/u> was trading 2.8% higher on Thursday morning.<\/p>\n
The price was around $46,450 per coin, while rivals Ethereum and Dogecoin<\/u> were trading around $3,500 and 25 cents per coin, respectively, according to Coindesk.<\/p>\n
GET FOX BUSINESS ON THE GO BY CLICKING HERE<\/strong><\/p>\n Bitcoin is still recovering following Tuesday's plunge from nearly $53,000 to $43,119 at its low.<\/p>\n El Salvador's historic adoption of bitcoin as legal tender on Tuesday still has some rough edges.<\/p>\n Salvadoran President Nayib Bukele stepped in on Wednesday to manage the fraught roll-out of a payments app that underpins the nation's move. He called on users to report any problems on his Twitter feed, according to Reuters.<\/p>\n Bukele asked users to close and restart the app if a "currently under maintenance" error screen appeared.<\/p>\n The adoption of bitcoin as legal tender by the Central American country has been problems that may have contributed to a drop in the value of the digital currency.<\/p>\n SEC THREATENS TO SUE COINBASE OVER ITS LEND PRODUCT<\/strong><\/p>\n A new cryptocurrency research team at Standard Chartered is predicting bitcoin will hit $100,000 by early next year and could be worth as much as $175,000 longer-term.<\/p>\n Bukele has sent a stream of Twitter messages over the past 36 hours instructing users on how to download the government-backed Chivo app which promises commission-free transactions.<\/p>\n In other cryptocurrency news, two of Australia's largest lenders on Thursday rejected criticism that they are holding up competition by refusing to do business with cryptocurrency providers, according to Reuters.<\/p>\n Those lenders are National Australia Bank (NAB) and Westpac.<\/p>\n Despite cryptocurrencies seeing huge growth in the past year, many financial institutions haven't gotten involved due to the high risks.<\/p>\n The stock exchange ASX Ltd. has not allowed cryptocurrency-related listings.<\/p>\n CLICK HERE TO READ MORE ON FOX BUSINESS<\/strong><\/p>\n "It's one of the emerging issues that we are looking at – what should our relationship be, if at all, with cryptocurrency," NAB Chief Executive Ross McEwan told a regular parliamentary hearing.<\/p>\n Peter King, the chief executive of Westpac, said the anonymity of cryptocurrency made it "very hard" to meet the bank's anti-money laundering and counter-terrorism financing requirements.<\/p>\n