SafeMoon captured attention from the get-go. Its name evokes a prudent form of the “to the moon” mantra embraced by crypto crowds looking for prices to burst straight up.
Just as the desirability of its products impacts a company’s share price, the crypto monetary system impacts the cost of crypto trading. The value of a cryptocurrency is primarily affected by its supply, the market’s demand for it, availability, and competing cryptocurrencies.
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Lettau, M. and S. Ludvigson (2001), “Consumption, aggregate wealth, and expected stock returns”, The Journal of Finance 56 (3), 815–849.
The market has been quite bullish on Bitcoin. Despite more than 13,000 cryptocurrencies listed on CoinMarketCap, Bitcoin remains the dominant digital currency.
— Jordan Barth is joining the Pew Charitable Trusts as a government relations associate. He was most recently the DNC’s voter protection hotline & research coordinator during the 2020 election.
Notes: This figure plots weekly averages of log price and log computing power (log hashrate) of Bitcoin and Ethereum over the period from August 2015 to January 2019. We normalise both time series by subtracting their mean and dividing by the standard deviation.
SafeMoon’s Facebook page states: “Remember, getting to the moon takes time and the longer you hold the more tokens you pick up.”
4JNET’s unique mechanism echoes with the “HODL” idea of encrypted tokens to a great extent, which advocates “buy and hold” regardless of its appreciation and depreciation in the short run. In essence, its fairness, security and transparency enhance investors’ confidence in holding the tokens for a long time or trading at the right time, allowing them to become rich one day.
Spot trading means you’re not technically “buying” the cryptocurrency, but instead trading your USD for it through either a market or a limit order. A market order means you agree to trade for the currency at the current market price. A limit order lets you put in a designated price at which you want the trade to occur, and when the currency reaches that price, the trade happens automatically. These orders then incur “maker” (for limit orders) or “taker” (for market orders) fees — though on Binance.US, there’s just a standard 0.1% fee.
A cryptocurrency analyst at the YouTube channel “Broke Man Finance” has analyzed the SafeMoon price trend and predicted that the token would likely hit a new all-time high soon.
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There’s already been a major breakthrough on this front, with the first Bitcoin ETF recently making its debut on the New York Stock Exchange. The development represents a new and more conventional way to invest in crypto. The BITO Bitcoin ETF allows investors to buy in on cryptocurrency directly from traditional investment brokerages they may already have accounts with, like Fidelity or Vanguard.
Through crypto ETFs, investors can speculate on the future cost of cryptocurrencies without having to actually hold it themselves.
When the hard fork arrived–and participants had to choose which path to take–the entire cryptocurrency market dropped. This is very likely what caused bitcoin to drop from the $6,000 range to around the $3,000-$4,000 range. Which brings us to today, with the cryptocurrency bottoming out at less than 80% of what it was a year ago.
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The CFPB names more specific risks that consumers should be prepared for, including volatile exchange rates, potential high fees on exchange platforms, and fraud risk. If your funds are lost or stolen, they can be especially difficult to recover, thanks to the decentralized nature of blockchain and lack of any governmental oversight.
The breach occurred on November 3 when an “unauthorized third party” gained access to information from a number of users.