MoneyNews MoneyMOON MONEY SafeMoon price prediction 2021: Can the cryptocurrency reach $1?
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The Bank of England's Sir Jon Cunliffe raises concerns about the financial stability risk of cryptocurrencies.
SafeMoon captured attention from the get-go. Its name evokes a prudent form of the “to the moon” mantra embraced by crypto crowds looking for prices to burst straight up.
Investors should continue to hold and not worry about the fluctuations, like Danial, who says she’s not “jumping on the hype.”
Bitcoin hit an all-time high of $68,530.34 early Tuesday, according to CoinMarketCap. That's just a few weeks after it hit a previous high of nearly $67,000 before sliding as much as 12%.
If buyers sustain the price above $67,000, the BTC/USDT pair could pick up momentum and accelerate to the next target objective at $75,000. A break and close above this resistance may open the doors for a possible rally to $89,476.12.
Business News›Markets›Cryptocurrency›Top cryptocurrency prices today: Solana, Binance Coin fall; XRP jumps 9%
As long as prices avoid closing below this barrier, odds favor a resumption of the uptrend toward a new all-time high at $4,574.
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Another factor that crypto experts have mentioned regarding the competitiveness of Safemoon coin is the speed of releasing products. Since the Safemoon token was launched, only the Safemoon has been released. All other Safemoon products are in the development stage. This is not the case with the Safemoon coin competition, like Bitrise, which in short has released multiple products, including a super dApp wallet.
A look at the recent charts shows that Safemoon has been on a downward trend since the start of November. Safemoon has also not been doing very well since its last all-time high around 21st April 2021. Despite a surge in mid-May, the next time Safemoon experienced bullish growth was the end of October.
The company has grown to become one of the biggest names in crypto by allowing anyone to use its service to trade myriad tokens, many of which are unavailable or limited on other exchanges. But over the past year, Binance has matured and begun to offer more formalized services. Following fiat currency exchange launches in the U.K., Uganda and Singapore, Binance is opening a dedicated U.S. exchange to avoid uncertainty around its legality.