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.
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If there is one thing we all know about cryptocurrencies, it is that they are volatile. The stories about people making millions during a crypto upswing make the headlines frequently – but so do the stories of people who lose everything during the downswings.
BIG BUCKS $2,000 'could be sent EVERY month' as November 'stimulus check' date nears
It is also important to mention that Bitrise is one of the coins that Safemoon lost whales to a while back. This is just one of the signs that Safemoon is in deep trouble.
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."
“This is a legitimate technology–it’s going to expand,” he says, “My longer-term view is nowhere near where some of [my current] views are.” It could even perhaps hit $10,000 again, he says. But that will probably take a few years. For now, we wait and see.
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Through crypto ETFs, investors can speculate on the future cost of cryptocurrencies without having to actually hold it themselves.
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Makarov, I. and A. Schoar (2018), “Trading and arbitrage in cryptocurrency markets”, Journal of Financial Economics, forthcoming .
One of the most appealing factors is that Safemoon rewards people who hold the token by distributing funds that the platform receives from the people who sell the token. In addition, Safemoon has recently released its own wallet on Google Play. Many investors believe this is a sign that the company are in the growth phase, with more announcements in due course.
Within its first eight days of existence, DogeZilla has been said to have grown into a super microcap of $500million from just $50,000.
There's already a meme coin named after Elon Musk's new Twitter handle - and it jumped 825% in its 1st day of trading
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