Get daily crypto briefings and weekly Bitcoin market reports delivered right to your inbox. Key Takeaways Bitcoin and Ethereum are holding above crucial support levels. Both assets could face significant losses if they lose these key interest areas. BTC could dive to $58,000 and ETH toward $3,700. This Exchange News was brought to you by OKCoin, our preferred Exchange Partner.
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Meanwhile, Ethereum also hit a record — rising to $4,837.59, according to CoinMarketCap.
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It is the latest cryptocurrency to have seen a spike in interest since the turn of the year, following on from the success of Dogecoin, Bitcoin and Ripple XRP in recent weeks.
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The White House signaled that the US will gather 30 other countries to discuss responses to cybercrime.
Can Bitcoin and altcoins sustain their bullish momentum or will profit-booking drag prices lower? Let’s study the charts of the top 10 cryptocurrencies to find out.
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A resolution published in the Official Gazette said the Central Bank will set rules for such currencies and determine how to license providers of related services within Cuba.
With its bullish structure now invalidated, those looking for long positions will need to eye support levels at $2.44 and $2.2. Should the crypto market remain bearish (with BTC having a probability of revisiting $60-62K), these levels are likely to come into play.
However, while there are some organisations that accept it as currency, others shy away due to Bitcoin’s dramatic price swings. Driven largely by speculation, the price per Bitcoin rose sharply from $1,151 in January 2017, to an all-time high of $19,783 in December the same year.* It then dropped to below $7,000 by February 2018 and rallied again to around $11,000 over a matter of days, before plunging once more to trade below $4,000. Subsequently, one of the key characteristics of Bitcoin that traders should understand is its potential for extreme volatility.
However, as the price is pretty much at the same level as it was in April, if you were to invest in Safemoon token for purely speculative reasons, then this level would be a decent area to buy at. There seems to be a minor support level around the area that price is currently at, which provides an optimal place to buy. Again, due to the low liquidity and lack of trading volume, this support level may not hold – so it’s worth considering this risk before investing.
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Cryptocurrencies’ finite supply makes them inherently deflationary, more akin to gold and other precious metals — of which there are finite supplies — than fiat currencies that central banks can, in theory, produce unlimited supplies of.
WASHINGTON (AP) — The Biden administration is calling on Congress to pass legislation that would strengthen government regulation of stablecoins, a form of cryptocurrency that has soared in popularity in the past year.
Tokens have been created to use smart contracts or tokens as a form of currency. They do not have a blockchain and are used on decentralized applications (dApps).