We should also point out that if we had been given labels on the Y-axis (which obviously we are not), it might become clear that these “daily Covid cases” refer to US Covid cases. Because while a US chart looks exactly like the one above, a chart showing worldwide Covid cases doesn’t; instead it looks like this (according to Google):
Musk’s decision signifies a sharp u-turn for Tesla who only started accepting Bitcoin as payment for its services in February 2021.
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The Biden Administration Wants New Legislation to Regulate Stablecoins. Here’s What That Means for Investors
There's already a meme coin named after Elon Musk's new Twitter handle - and it jumped 825% in its 1st day of trading
The demand for a cryptocurrency depends on many factors. Demand will be increased based on how useful it is to own the coins. This means if the crypto monetary system works well (i.e. fast transactions and low fees), if smart contracts become more commonplace, and if more businesses start to accept crypto, the demand for crypto will increase. Additionally, there is an increased demand for cryptocurrencies as a store of value investment.
How the price of Ethereum will change in the future is impossible to know for certain.
Bitcoin and Ether created a new all-time high of $68,641.57 and $4,857.25 on Tuesday Bitcoin breaks past $68,000, ether nears $5,000 as flows surge in crypto
A cryptocurrency transaction technically isn’t finalized until it’s added to the blockchain, which usually occurs within minutes. Once the transaction is finalized, it’s usually irreversible.
"After hitting fresh milestones and hitting new ATH’s backed on the US CPI Inflation figures for October, traders began to book profits," it added. "Such corrections do not seem to be a major cause of concern just yet."
Investing is not a guaranteed way to make money, so make sure you know the risks and can afford to lose the money.
Merck and Pfizer have found drugs to bust the virus.Who will win, and what does it mean for India?
Ultimately, the future of cryptocurrencies — their value, security, and staying power — is still up in the air. But the experts we spoke to believe owning some crypto could create value over time. Whatever your interest or motivation, experts stress the importance of making sure you understand the unique volatility and risk factors of cryptocurrency before investing.
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Bitcoin was trading 1.5% lower Thursday morning. The price was around $59,000 per coin.
Interestingly, the breakout was initiated right as a report from the United States Bureau of Labor Statistics (BLS) showed a sharp 6.2% annual rise in the Consumer Price Index (CPI), a figure that has hit its highest mark in 30 years.
The good news is that the glare of public opinion will eventually dissipate, and that as the spotlight diminishes, real developers will find themselves in a healthier environment within which to do the work needed to unlock this technology’s potential. We saw a similar period of constructive building during the 2014-2016 hiatus.