Artwork is being "tokenised" and sold online for millions - but will the bubble burst?
India’s Parliamentary Standing Committee on Finance has listed a meeting with the leading crypto players in India on its age...
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Regulatory announcements can also affect the price of cryptocurrency in already volatile markets. Market volatility is why investing experts recommend keeping any cryptocurrency investments to less than 5% of your total portfolio and never invest anything you’re not OK with losing.
Most price prediction websites unfortunately do not have price predictions for the DogeZilla – given how new and the fractional number of tokens it trades.
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Cryptocurrency(c) 2021 BloombergNick Baker, BloombergUpdated: October 22, 2021 9:31 am IST
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Typically, meme coins don’t gain on fundamentals. Instead, they are usually driven by an internet-based joke.
In turn, cryptocurrency exchange platforms such as Binance have been feeling the heat across the world as regulators and governments have started to pay close attention to the operations of such platforms in the wake of the global crackdown on crypto.
It appears the coin became widely recognised on Twitter and many of its posts have thousands of likes by cryptocurrency watchers.
By late 2010, the first of what would eventually be dozens of similar cryptocurrencies — including popular alternatives like Litecoin — began appearing. The first public Bitcoin exchanges appeared around this time as well.
The bullish rise and increased confidence in Bitcoin will likely see it remain at prices fluctuating between $60,000 and $70,000 but with increased resistance as it looks toward a $100,000 price prediction in 2022.
China is one market to impose strict regulation that impacted prices. In February 2018, the country blocked its citizens from accessing websites that offer cryptocurrency trading services, prompting a 15% fall in Bitcoin and 20% plunge for Ether. Similarly, in January 2018, Bitcoin’s price was hit by new South Korean legislation requiring traders to reveal their identity.
An interesting avenue to explore is the wavelet coherence between different cryptocurrencies, allowing any relationships between different cryptocurrencies to be detected and documented. Relationships between different cryptocurrencies would be of interest for those searching for diversification within cryptocurrency markets, especially to those managing a portfolio of cryptocurrencies.
Dogecoin (DOGE) turned down from $0.29 on Nov. 8, indicating selling on rallies. The price has dipped back to the 20-day EMA ($0.26), which is an important support to keep an eye on.