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.
If the price rebounds off the current level, the bulls will again try to propel the DOGE/USDT pair above $0.30. If they can pull it off, the pair could challenge the overhead resistance at $0.34. A break and close above this level will signal that bulls have the upper hand.
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Of late, crypto prices have risen on the back of comments from billionaire Elon Musk and Ark Investment Management LLC's Cathie Wood.
A petition to 'Get Safemoon Listed On Coinbase' has currently gained 4,646 signatures.
Binance has grown into the world's largest cryptocurrency exchange. During the month of May, Binance had spot trading volume of approximately $1.5 trillion, which was a 63% increase from April. As you can see in the image below, the volume traded on Binance is significantly higher than its closest competitors, Huobi and Okex.
When the hard fork arrived–and participants had to choose which path to take–the entire cryptocurrency market dropped. This is very likely what caused bitcoin to drop from the $6,000 range to around the $3,000-$4,000 range. Which brings us to today, with the cryptocurrency bottoming out at less than 80% of what it was a year ago.
4JNET’s team are big proponents of the HODL theme that is often echoed through the cryptocurrency market. History has proven that there is no better way to make the most returns than holding digital assets for number of years. Thus, 4JNET is designed with this proven theory in mind.
Coinbase, which went public last week via direct listing, shaved about 10% off its share price this week, but was largely unaffected Friday in intraday trading.
Its Facebook page states: "Remember, getting to the moon takes time and the longer you hold the more tokens you pick up."
Bitcoin (BTC) and Ether (ETH) have again risen to a new all-time high on Nov. 10, indicating that the trend remains firmly in favor of the bulls.
“Where digital assets land, at the end of the day … will be driven in part by regulation, both domestic and international,” Former SEC Chairman Jay Clayton recently told CNBC.
We’ve assembled one of the finest teams of cryptocurrency experts in the world, ready to deliver sharp cryptocurrency analysis to your screen…
The phenomenon has occurred more frequently in recent days, with Bitstamp also seeing freak order-book events.
Among those who called it, hedge fund manager Mark Dow wrote almost exactly a year ago about his decision to short bitcoin after future trading on it first began:
Some investors have predicted even bigger gains for Bitcoin, despite continued criticism of the cryptocurrency by JPMorgan Chase (JPM)CEO Jamie Dimon, who has called the coin "worthless."
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Baker, M. and J. Wurgler (2006), “Investor sentiment and the cross-section of stock returns”, The Journal of Finance 61 (4), 1645–1680.