SafeMoon may have some investors concerned that it will not return to its prior glory. Despite a very promising starting performance, SafeMoon has settled far below the hopes of the investors that held onto the token.
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OK perhaps that’s a little far-fetched. But what is behind crypto’s crazy climb over the past 18 months, we hear you ask? We don’t mean to suggest that the pandemic hasn’t been involved, because we think it has, but not in the way that this chart criminal implies — not, in other words, because it’s some kind of safe haven that traders flock to when they are worried about Covid cases rising; the data don’t bear that idea out.
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.
The US Department of Justice says he "jeopardised the national security of the United States".
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According to Karony, SafeMoon could soon be listed on top cryptocurrency exchanges, increasing the accessibility of the token.
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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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"Some of the NFT collections had bounced by 50-60% in the past few days, which indicates a possible reversal in the coming weeks," he added.
Bitcoin plunged to as low as $8,200 on Binances U.S. exchange from around $65,000.
Bitcoin’s surge continued overnight on Monday as the cryptocurrency soared to $68,568.85 in value in the early hours of Tuesday morning, according to Coinbase.
Crypto companies such as miners Marathon Digital Holdings Inc. and Riot Blockchain Inc. each rallied more than 10% Monday. Coinbase Global Inc., the largest U.S. exchange, gained as much as 3.6%, a day before reporting third-quarter results.
Even with its usual ups and downs, Bitcoin has mostly been on the rise following a drop under $30,000 in July.
If the price turns down from the resistance line of the channel, the pair could drop to the support line. This is an important level to keep an eye on because a break below it will suggest a possible change in the short-term trend.
Based on our SafeMoon forecast data, the currency price might trade around $0.0000425 by the end of 2021 and $0.0002553 by 2025. GOV Capital