You might recall that back in the very early days of Covid-19 (or just “coronavirus” as it was then known), some crypto nutters enthusiasts started getting excited about the idea that the virus would be good for bitcoin because “paper money” “might be the source of #CORONAVIRUS #SARS2 infection”. After all, “fiat is dirty”:
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While fluctuations are expected, Noble says this swing is a bit out of the ordinary. “I thought the market was maturing and these things would be less frequent and severe. Boy was I wrong,” he says.
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On the downside, the zone between $67,000 and $63,750 is likely to act as a strong support. If this zone is breached, it will indicate that traders may be aggressively booking profits. The pair may then drop to the 50-day simple moving average (SMA) ($56,348).
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SafeMoon is not yet listed on Coinbase or Binance. However, the currency does hope it will achieve this in the future.
While paying for things in cryptocurrencies doesn’t make sense for most people right now, more retailers accepting payments might change that landscape in the future. It’ll likely be much longer before it’ll be a smart financial decision to spend Bitcoin on goods or services, but further institutional adoption could bring about more use-cases for everyday users, and in turn, have an impact on crypto prices. Nothing is guaranteed, but if you buy cryptocurrency as a long-term store of value, the more “real world” uses it has, the more likely demand and value will increase.
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The cryptocurrency’s price began to surge on Sunday night (7 November) as investors pumped the price from $62,319.98 at 8pm to $66,101.46 by 10am on Monday morning.
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(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the asset/s mentioned.)
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One key thing to look out for is Safemoon to be added as a tradeable asset by a major broker or crypto exchange. Many of the best trading platforms will allow users to request assets to be added to the platform. If a request gets enough traction, the platform may look into its viability and then decide whether or not to add it.
Tokens in the liquidity pools are being reduced regularly using the buyback process. However, the buying and burning of tokens are automated. Bitrise cryptocurrency has become the first-ever to include automatic buyback with a real use case of payment systems. All other competing tokens, including Safemoon and Shiba Inu, are buying and burning tokens manually.
It’s important to read the details on your chosen trading platform to ensure you understand the level at which price movements will be measured before you place a trade.
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SafeMoon is one such coin, which has been growing in popularity. And is gaining limelight across public platforms, garnering the interests of enthusiasts. It is a known fact that the protocol is community focussed and a fair launched De-Fi token. Substantial sources suggest that three simple functions occur during each trade.
SHIBA INU (SHIB) rose above the downtrend line on Nov. 9 but the bulls could not sustain the higher levels. This shows that every rise is being sold by the bears.
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But it wasn’t just outside pessimism that led to the slump, but infighting as well. Blockchains are decentralized, and democratic systems require buy-in from participants in order to keep the engines running. When there’s a schism that can’t be decided by the majority, all hell breaks loose.
Meanwhile, Ethereum also hit a record — rising to $4,837.59, according to CoinMarketCap.
Citation: Phillips RC, Gorse D (2018) Cryptocurrency price drivers: Wavelet coherence analysis revisited. PLoS ONE 13(4): e0195200. https://doi.org/10.1371/journal.pone.0195200
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Bitcoin–and the cryptocurrency industry as a whole–plunged this year, after a gravity-defying surge in recent years. The price of the digital coin hit nearly $20,000 late last year. And then in early 2018, it began to fall. Though it hit a few plateaus, the price has still tumbled; today it hovers at a little over $3,000.
Yet in some ways, the crypto crowd were not wrong. In the almost 18 months since Covid-19 was declared a pandemic, the price of bitcoin has risen by about 525 per cent, from just under $8,000 to a three-month high just above $50,000 on Monday. XRP has climbed by a similar amount to trade around the $1.25 mark.
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Exports of liquefied natural gas (LNG) from Equatorial Guinea are expected to resume after more than six weeks of disruption following an incident at the Alba gas processing facility, trading sources and the plant operator said. Sources have told Reuters in October that force majeure has been declared at the facility and some LNG cargoes have been deferred or canceled. The West African Punta Europa LNG plant is expected to export its first cargo since Sept. 25.
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In an interview from his home in the U.K., John Karony, SafeMoon’s 25-year-old chief executive officer, emphatically denied that his token is a Ponzi scheme. “I put everything, my identity and my credibility, on the line for SafeMoon,” he said.
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BitTorrent lost its relevance ever since the decentralised media network, Tron, made sharing files easier and faster, and the TRON Foundation purchased BitTorrent. Later, BitTorrent purchased DLive, a blockchain content-sharing platform where creators can monetise content without having to share with the network.
The V2 upgrade is on schedule for launch, and the addition of new pairs to swap has increased the accessibility of the token for holders.
Dogecoin (DOGE), denoted by its immediately recognizable Shiba Inu mascot, is a variation on Litecoin.
Like all cryptocurrencies, the majors are digital assets that secure and verify transactions using computer science and complex mathematics, known as cryptography. Unlike traditional (‘fiat’) currencies, they are not currently issued or backed by a central authority such as a government. Instead, they run across a network of computers and are underpinned by blockchain technology – a permanent record of transactions that cannot be altered without the consensus of the network.
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Millions of Salvadorians are expected to download a digital wallet app with $30 of free Bitcoin.
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Difficulties impacted all three SafeMoon wallet products - its Android and iOS versions, and the website's buy and swap function.
XLM price has been on a massive consolidation phase since October 16 as it failed to shatter an overhead barrier. Stellar is currently making a run at this hurdle and indicates that a breakout will result in an explosive breakout.
SAN DIEGO (AP) — A Los Angeles man pleaded guilty Wednesday to participating in what prosecutors called a “textbook Ponzi scheme” that defrauded cryptocurrency investors worldwide of more than $2 billion.
Metals fund manager laments ‘zero interest in our strategy’ while bitcoin hits new record
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Apple CEO Tim Cook says that while the tech giant is looking into cryptocurrencies, there are no immediate plans to adopt it as a form of payment on Apple Pay for the company's products. Rich millennials to financial advisers: Thanks for the golf invite, but you can’t invest my money
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Despite having no top celebrity, actors, musicians, and entrepreneurs backing it, SafeMoon has still managed to gain the limelight. Its investors are mostly common folks spread across the world who want a better life for themselves and their families.
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“It’s easy to get carried away, but such aggressive growth is highly unlikely to continue forever.”
Ripple (XRP) broke and closed above the overhead resistance at $1.24 on Nov. 8, signaling that bulls are attempting a comeback. The bears tried to pull the price back below $1.24 but failed to sustain the lower levels.
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According to a tweet from the official SafeMoon Twitter account, the problems affected all three wallet products. Namely, the website buy and swap function, the Android wallet, and its iOS counterpart.
Professor Prasad said buyers need to be aware when buying cryptocurrencies as there is almost no regulatory oversight.
Loans offered via decentralised finance networks have been compared to fixed income securities
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Shortly after achieving these astronomical new heights, Bitcoin’s price fell back toward $62,700 before recovering slightly to around $64,500, while most altcoins endured near double-digit losses.
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Bitcoin mining is raising concerns about its negative impact on the environment. According to the Cambridge Bitcoin Electricity Consumption Index, the industry consumes more electricity than the Netherlands and slightly less electricity than the United Arab Emirates.
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Cryptocurrencies either have a limited or predetermined coin supply—although, with over 2,500 cryptos listed on hundreds of online exchanges, a number which is sure to increase over the coming years, it’s hard to generalise.
Binance.US claims to have undertaken appropriate measures dedicated to protecting its customers from theft and hacking, in line with its policy of prioritizing security.
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In return for their services, they take a small cut of each transaction’s value — usually less than 1%.
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SafeMoon recorded a 99% rise in one day in April after Bitcoin had its biggest single drop for months.
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Bitcoin wasn’t the only cryptocurrency to feel the initial effects, with most of the top 10 all experiencing dips in value.
As of 8am ET on Thursday morning, it was slightly up in early trading. Bitcoin, however, was down under $65,000 at 8am ET, according to CoinBase.
China makes all crypto currency transactions illegal after ordering shut down of Bitcoin mining in Sichuan province
Cryptocurrency is a type of currency that’s digital and decentralized. Cryptocurrencies can be used to buy and sell things, and their potential to store and grow value has also caught the eye of many investors.
