While its price had fallen slightly from a 24 hour high of $68,525 on Tuesday morning to $67,983.80 as of 2.10pm, Bitcoin’s price hike still represents a year-on-year increase of more than 300% on last November’s value.
Earlier today, Bitcoin (CRYPTO: BTC) flash crashed to $8,000 on Binance U.S., the American trading platform of the world's top crypto exchange Binance.
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Additionally, crypto regulation outside the U.S. has changed over time, based on evolving regulatory guidelines. The fifth Anti-Money Laundering Directive from the European Union, for example, entails that crypto buying, selling and other operations must comply with certain guidelines in certain regions.
With its hourly RSI nearly bottoming out at around 30, there is a case for optimism. However, to resume bullish movement, FTM will need to hold $2.5 and the nearest resistance at $2.72, based on a 50% fibonacci retracement. It will then need to claim the $2.87 level in the short term. Should it succeed, the key daily level of $3.18 is attainable.
The country will be the first to recognise the crypto-currency as legal tender from September 7.
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CFD Accounts provided by IG International Limited. IG International Limited is licensed to conduct investment business and digital asset business by the Bermuda Monetary Authority.
Squid Game cryptocurrency rockets in valueChinese viewers slam 'copycat' Squid Game show
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The majority of NFTs exist within the Ethereum blockchain. Ethereum is a cryptocurrency that has the ability to support NFTs.
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Before coming to POLITICO, Caitlin worked on the social desk for ABC News’ D.C. Bureau, where she used social media to monitor coverage areas, curated images and videos for broadcasts, pitched and reported out stories and collaborated on breaking news.
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For upcoming projects, DogeZilla is planning to launch an NFTs Invasion Series in early 2022.
NRIs experiment with Cryptos for remittances: Deciphering the risks and opportunities
In the meantime, the Indian government is considering a middle path on cryptocurrencies, as it finalises legislation on the virtual asset to be introduced in the upcoming winter session of Parliament. The hard-line stance for an outright ban of cryptos is not being found feasible in view of large investments in such instruments by Indians, and these unregulated virtual currencies are also unlikely to be allowed as a legal tender.
The breach occurred on November 3 when an “unauthorized third party” gained access to information from a number of users.