BTC to BITO: the original cryptocurrency, and the promise and limitations of Bitcoin ETFs
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Having a capped currency means Bitcoin can be used as a store-of-value investment tool. Investing in a store of value currency can be compared to investing in gold. Although there is some transactional value in gold, it is mostly used as a store of value.
Margin is usually expressed as a percentage of the full position. A trade on bitcoin (BTC), for instance, might require 15% of the total value of the position to be paid for it to be opened. So instead of depositing $5000, you’d only need to deposit $750.
“Regulation is probably one of the biggest overhangs in the crypto industry globally,” says Jeffrey Wang, head of the Americas at Amber Group, a Canada-based crypto finance firm. “We would very much welcome clear regulation.”
Tokens are built on an existing blockchain but are considered to be programmable assets that enable the formulation and execution of unique smart contracts. Outside of the blockchain network, these contracts can be used to establish ownership of assets. Tokens can be used to represent units of value such as money, coins, digital assets and electricity, and can also be sent and received.
In the last 24 hours, Bitcoin has gained around 3 percent and is trading above $67,000. The crypto has added over 10 percent in the past week.
The billionaire founder of Citadel also expressed bewilderment with Elon Musk's decision to ask Twitter if he should sell 10% of his Tesla stake.
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That being said, the features that HUH Token offer are beneficial to investors. The Token offers a lot of utility, as a result of this, the creators have dubbed the token a ‘Utimeme’ token. This is the end product of mixing the words utility and meme together, HUH Token wants to be seen as more than just a meme token as it provides real-world value to those invested.
Indeed, Amazon has recently sparked rumors that it’s making moves to that end by sharing a job posting for a “digital currency and blockchain product lead.” Walmart is also recruiting a crypto expert to oversee its blockchain strategy.
Early cryptocurrency proponents shared the goal of applying cutting-edge mathematical and computer science principles to solve what they perceived as practical and political shortcomings of “traditional” fiat currencies.
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In this eventuality, BTC could drop toward the 100 or 200 four-hour moving average. These demand zones sit at $59,000 and $52,000 respectively.
Both are leveraged products, meaning you only need to put up a small deposit – known as margin – to gain full exposure to the underlying market. Your profit or loss are still calculated according to the full size of your position, so leverage will magnify both profits and losses.
Although you can create another private key and start accumulating cryptocurrency again, you can’t recover the holdings protected by your old, lost key.