Polkadot (DOT) turned down from $53.87 on Nov. 8, indicating that bears are selling at higher levels. The price has dipped back to $49.78, which is likely to act as a strong support.
In the last 24 hours, Bitcoin has gained around 3 percent and is trading above $67,000. The crypto has added over 10 percent in the past week.
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Bitcoin is down roughly 20% week-over-week, around 30% from its all-time high of nearly $65,000 early last week. The market cap of the coin has dipped below $1 trillion. The tumble has been less severe for Ethereum, which hit an all-time high just yesterday but has since dropped 13% as the broader market has crawled back.
As of 8am ET on Thursday morning, it was slightly up in early trading. Bitcoin, however, was down under $65,000 at 8am ET, according to CoinBase.
Amid rising inflation, the Federal Reserve and the Biden administration continue to message that the situation is “under control,” but equities markets reacted negatively to the news.
Assets hovered at record highs even after the Fed said that "asset prices may be vulnerable to significant declines."
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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.
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In early November, FTM formed an inverse head and shoulder pattern, eventually breaking the neckline with a steep rise close to $3.2. However, it is now recovering from the steep drop it experienced overnight along with the market. On its way down, it broke through several local support levels.
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The late 1990s and early 2000s saw the rise of more conventional digital finance intermediaries.
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After all, gold is often touted as the ultimate inflation hedge, yet it’s still subject to wild volatility — more so than many developed countries’ fiat currencies.
While its price swiftly dropped to below $65,000 after hitting the new all-time high Wednesday, Bitcoin’s latest new record is an impressive feat considering just a year ago the currency hovered around $15,000 per coin. Ethereum — the next most popular crypto — has seen a recent surge as well, and on Wednesday notched another new all-time high of its own above $4,800.
Overall, Coinmarketcap estimates the global crypto market has shrunk around 10% in the past 24 hours.