So what should crypto investors do in light of this latest increase? Nothing, according to the experts we’ve talked to. Given the crypto’s history of volatility, this increase doesn’t guarantee a long-term reversal. Bitcoin’s price is just as likely to fall back down as it is to continue climbing. The price swings are going to keep happening, and experts say they’re something long-term crypto investors will have to continue dealing with.
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The sudden spike in selling pressure pushed the flagship cryptocurrency to a low of $62,050, easing nearly 5,000 points in market value. Although prices have bounced back above $63,000 in the last few hours, it remains to be seen whether BTC can hold above support.
There was also a big debate on Safemoon tokenomics. Most of the competing coins have a more attractive and innovative tokenomic than Safemoon. While the Bitrise coin has an automated redemption and burn process, Safemoon burns manually. This means that the liquidity regulation of the Safemoon token is less transparent.
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Alexis Ohanian has partnered with the Solana Foundation to invest $100 million to build social-media projects on the solana blockchain.
It can be observed that in the short term (2–4 and 4–8 day period band) there is no consistency in results; in some cases the null hypothesis can be rejected and in some cases it cannot. In the medium term there is more consistency in rejection of the null hypothesis in favour of bubble regime coherence values significantly exceeding the non-bubble regime values. In the long term, the proportion of instances exhibiting statistical significance reduces, with the majority of cases in the 256–512 band not being a rejection of the null hypothesis. This reduction of statistically significant differences when considering longer term periods further emphasises the point that it is the medium term in which coherences tend to strengthen during bubble regimes.
While the biggest cryptocurrency trades strong, its market dominance has been dipping as investors shift to altcoins, said CoinDCX Research Team.
Malta-based cryptocurrency exchange Binance will launch its U.S. division within the next two months, according to CEO Changpeng Zhao.
Electric car maker Tesla will stop accepting Bitcoin as a payment, CEO Elon Musk tweeted on Wednesday, citing environmental concerns.
It comes after the cryptocurrency dipped by approximately after surging to $67,700 in late October as traders appeared to pull back in anticipation of another price pump.
While no official announcement by either of the companies in question has been made in regards to a partnership, social media is full of users waiting for the statement.
In a recent report from Kraken exchange, analysts said that the current quarter’s price action has a correlation of 0.88 with the fourth quarter of 2017.
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More broadly, the U.S. has been slow to issue regulatory guidance for cryptocurrency businesses. The industry has generally appreciated regulators' care and caution to avoid hampering innovation or overregulating something so misunderstood, but the lack of clarity has also become restrictive for many looking to operate, develop, and grow their products and services. But Zhao appears to be undaunted by that.
Blockchain. A permanent online ledger that functions as a public accounting of cybercurrency transactions that have been executed. New “blocks” are added to the blockchain after the confirmation of each set of transactions.
Hut 8 Achieves Third Consecutive Record-Breaking Quarterly Revenue in Q3-2021; Surpasses 5,000 Bitcoin Held in Reserve