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“Expect very high volatility in crypto over the next few months,” he tweeted on Oct. 21.
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It’s true that the source codes and technical controls that support and secure cryptocurrencies are highly complex. However, laypeople are more than capable of understanding the basic concepts and becoming informed cryptocurrency users.
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Additionally, crypto regulation outside the U.S. has changed over time, based on evolving regulatory guidelines. The fifth Anti-Money Laundering Directive from the European Union, for example, entails that crypto buying, selling and other operations must comply with certain guidelines in certain regions.
“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.”
That’s the same crowd that has pumped up the prices this year for other crypto like Shiba Inu and Dogecoin.
The world’s largest crypto exchange is going legit. Binance, which processes more than $1 billion on a daily basis and for so long has embodied crypto’s Wild West culture, announced that it will launch a U.S.-based service — but, in the meantime, it is implementing restrictions for U.S. passport holders worldwide and those based in the country.
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Bitcoin is a good indicator of the crypto market in general, because it’s the largest cryptocurrency by market cap and the rest of the market tends to follow its trends.
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The billionaire entrepreneur said: “We are concerned about rapidly increasing use of fossil fuel for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.”
Nonfungible tokens, or NFTs, are yet another type of cryptocurrency, denoting that it is a one-of-a-kind asset and cannot be replaced. A Bitcoin, for example, is fungible, meaning you can exchange one for another and get precisely the identical thing. However, a one-of-a-kind trade card, on the other hand, cannot be duplicated. You’d get something altogether different if you swapped it for a different card.
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For upcoming projects, DogeZilla is planning to launch an NFTs Invasion Series in early 2022.
Alternatively, if the price breaks below the 20-day EMA, the next stop could be the 50-day SMA ($0.24). If this support is breached, the selling could intensify and the pair may drop to the strong support at $0.19.
Blockchain technology has unique security features that normal computer files do not have.