In early November, FTM formed an inverse head and shoulder pattern, eventually breaking the neckline with a steep rise close to $3.2. However, it is now recovering from the steep drop it experienced overnight along with the market. On its way down, it broke through several local support levels.
On Tuesday 9 November, Bitcoin’s price was trading up by roughly 11.5% on the last week after soaring to a new record price of over $68,000 on Tuesday morning.
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Our data aggregators include CoinMarketCap, Coinpaprika, TradingView, CryptoCompare and IntoTheBlock.
Now the country’s central bank, People’s Bank of China, has effectively banned digital coins after announcing all transactions of cryptocurrencies are illegal.
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Trading Bitcoin and other crypto-currenices is a criminal activity, China's central bank says.
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"It is one of many schemes by which naïve retail investors are drawn in and exploited by malevolent crypto promoters," Cornell University economist Eswar Prasad told the BBC.
On the other hand, cryptocurrencies come with a host of risks and drawbacks, such as illiquidity and value volatility, that don’t affect many fiat currencies.
Litecoin zoomed 18.71% to $246.43 and Uniswap was trading 3.31% higher at $26.65.
As far as payment for assets goes, platforms offer crypto purchases via bank transfers, crypto transfers, or credit cards, depending on the platform. Buying crypto with cash in a person-to-person fashion is also possible. Availability for buying and selling crypto on any given platform, however, can vary from region to region.
Cardano is up over 9 percent in the last 24 hours and nearly 14 percent in the previous week. It is priced at around $2.23.
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Wavelet coherence plots as above highlight areas in the time-frequency space where the two series co-move. The warmer the colour, the higher the coherence (which can be interpreted as correlation) at that location in the time-frequency space; the colours used in this work range from dark blue (0, no coherence) to yellow (1, strong coherence). Statistically significant areas of coherence are surrounded by a thick black line.
Bitcoin (BTC) plummeted 2.18% to $66k at the time of writing. Bitcoin’s dominance is currently 43.35%, a decrease of 0.34% over the day.
Binance represents the collection of a huge number of customers all over the world. Naturally, this means that the Binance international exchange has a very large liquidity pool. As the world leader in centralized exchanges, Binance also has a world-leading liquidity pool. In May of 2021, the crypto exchange recorded a spot trading volume of $1.5 trillion.