A further blow was dealt when China ordered Bitcoin mining in its Sichuan province to shut down completely and furthermore told banks to stop supporting crypto transactions, in a latest wave of restrictions on cryptos.
“Good thing Americans are forced on to these dogshit exchanges where they can get completely scammed on unreasonably thin books. This type of shit just shouldn’t be happening. It’s not fair that some get stopped out and some stay in, some get fills and some don’t.”BTC/USD 1-hour candle chart (Binance). Source: TradingView
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That seems to be the overall message from most. Even Innes, who has been critical of bitcoin and crypto-trading for quite a while, admits that this doesn’t mean the blockchain is bunk. He, in fact, sees things looking up. “If this base can hold,” he says, “[the price will] start drifting up.” But not because of fervor or blind faith that bitcoin is the future, but due to advances on the technology side.
SAN SALVADOR, El Salvador (AP) — Thousands of people gathered in El Salvador's capital Wednesday for the first mass march against President Nayib Bukele, who protesters say has concentrated too much power, weakened the independence of the courts and may seek re-election.
This gives sellers an incentive to charge transaction fees, since they get paid faster by doing so, and so it’s fairly common for cryptocurrency transactions to come with fees.
The sudden spike in selling pressure pushed the flagship cryptocurrency to a low of $62,050, easing nearly 5,000 points in market value. Although prices have bounced back above $63,000 in the last few hours, it remains to be seen whether BTC can hold above support.
The network charges a 12% fee on every token sale transaction. The 5% of this fee, which is the largest percentage, is sent to the buyback contract. The buyback contract will automatically buy back tokens and burn them immediately. That's why the demand and price of the Bitrise crypto coin have been rising steadily.
Corporation tax: Profits or losses on currency exchange movements including virtual currencies are taxable. The profits and losses of a company that engages in cryptocurrency transactions would be recognized in the books and taxable under standard corporation tax regulations.
“One of our institutional traders indicated to us that they had a bug in their trading algorithm, which appears to have caused the sell-off,” Binance.US said in an emailed statement. “We are continuing to look into the event, but understand from the trader that they have now fixed their bug and that the issue appears to have been resolved.”
SafeMoon stands from "Safely to the Moon", a phrase that was adopted by Redditors about DogeCoin which refers to the price flying upwards "as high as the Moon".
New short-term investors who are selling their holdings in reaction to the drop may be influencing the continued dip in Bitcoin’s value, according to a recent report from Glassnode Insights, a blockchain analysis firm.
Explaining the digital assets designed to limit volatility but attracting regulators’ attention Previous page You are on page 1 Next page
Elon Musk’s announcement that Tesla would no longer be accepting Bitcoin as payment on environmental concerns was followed by China issuing a crypto crackdown.
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Clear regulation would mean the removal of a “significant roadblock for cryptocurrency,” says Wang, since U.S. firms and investors are operating without clear guidelines at the moment.
On the downside, the zone between $67,000 and $63,750 is likely to act as a strong support. If this zone is breached, it will indicate that traders may be aggressively booking profits. The pair may then drop to the 50-day simple moving average (SMA) ($56,348).
Some are curious if this meme coin will ever truly see a full Shiba and Dogecoin-like impact, although it’s already off to an impressive start.