Cryptocurrencies are seen as an alternative to traditional banking methods, cheaper to move money around due to not being regulated by the government or its banks.
CryptocurrenciesAsia crypto sector stays confident despite China regulatory curbs
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But some say the BITO ETF is not enough, because while the fund is linked to Bitcoin, it does not actually hold the crypto directly. The fund instead holds Bitcoin futures contracts. While Bitcoin futures follow the general trends of the actual crypto, experts say it may not track the price of Bitcoin directly. For now, investors must continue waiting for an ETF that holds Bitcoin directly.
CYNTHIA LUMMIS: My son-in-law has a shirt that says friends don't let friends sell bitcoin. And that is my investment strategy for bitcoin.
How M&M made Thar a product, price and branding combo, and drove beyond off-road purists
Most price prediction websites unfortunately do not have price predictions for the DogeZilla – given how new and the fractional number of tokens it trades.
It comes after the cryptocurrency dipped by approximately after surging to $67,700 in late October as traders appeared to pull back in anticipation of another price pump.
— Allie Caccamo is now an associate doing tech policy strategy at Christoff & Co. She most recently was an account coordinator at Allison+Partners.
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It's likely SafeMoon - the 203rd-ranked cryptocurrency on CoinMarketCap - will eventually be listed on further exchanges. This is especially likely after Coinbase CEO Brian Armstrong tweeted in June: "Our goal is to list *every* asset where it is legal to do so."
Of course, crypto is notoriously volatile. The last time Bitcoin reached these levels, it fell back several thousand dollars, and it’s undergone multiple corrections that take it down by half or more. Other coins are even more volatile – the memecoins bounce back and forth wildly at times – and scams and hacks occur with some frequency.
The factors leading to SafeMoon’s adoption by institutions and companies primarily are based on the following fundamentals of the latest news that certify SafeMoon a good investment:
Bitcoin and Ethereum are in retreat following a flash crash. Binance U.S. was hit with a bug Thursday, resulting in a flash crash that saw Bitcoin’s price plummet by around 90%. Ethereum also dipped 50% on the exchange.
Having a capped currency means Bitcoin can be used as a store-of-value investment tool. Investing in a store of value currency can be compared to investing in gold. Although there is some transactional value in gold, it is mostly used as a store of value.
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Electric car maker Tesla will stop accepting Bitcoin as a payment, CEO Elon Musk tweeted on Wednesday, citing environmental concerns.
While no official announcement by either of the companies in question has been made in regards to a partnership, social media is full of users waiting for the statement.