On Tuesday 9 November, Bitcoin’s price was trading up by roughly 11.5% on the last week after soaring to a new record price of over $68,000 on Tuesday morning.
Bitcoin’s bullish price rise to near $70,000 in value comes as investors hope to see the $1 trillion market cap remain firmly in place ahead of a volatile trading period.
.
The world's richest man now wants to be known as "Lorde Edge" based in a new location called "Trollheim."
Cryptocurrencies’ supply and value are controlled by the activities of their users and highly complex protocols built into their governing codes, not the conscious decisions of central banks or other regulatory authorities.
The world of cryptocurrencies can be a tricky field to navigate for the uninitiated.
WARREN DAVIDSON: The industry is basically pleading, give us some regulatory clarity.
The name SafeMoon extends to “Safely to the Moon” and auctions itself as a Defi token. This getting to the moon expression was first presented with Dogecoin, and now SafeMoon follows it too. It is a decentralized money token that is like other cryptos such as Bitcoin and means to retouch the occurrence of unpredictability issues, in contrast to different currencies.
It hasn't yet been recognised by the major cryptocurrency sites such as Coinbase but why did it get so popular?
"It is one of many schemes by which naïve retail investors are drawn in and exploited by malevolent crypto promoters," Cornell University economist Eswar Prasad told the BBC.
One example is the negative correlation that occurs between Ethereum and its associated factors around June 2016 (left facing arrows at the top and just left of the horizontal middle of the Ethereum scalograms). During this time interval, one of the most well-known applications at the time, the DAO, built on top of the Ethereum environment, was hacked. It can be seen that all factors are negatively correlated in the short term with the price during this time interval. As a result of the uncertainty generated by the hack, price dropped sharply, but activity on social media and interest increased (causing the negative correlation). The negative relationship can be seen during the 2–4 day band for all factors.
The Trust Project is an international consortium of news organizations building standards of transparency.
Share on twitter (opens new window)Share on facebook (opens new window)Share on linkedin (opens new window)Share on whatsapp (opens new window)
A valid email address is required.You must check the box to agree to the terms and conditions.
“I haven’t encountered many who would try to put up more barriers for new users,” said Maria Shen, a partner at Electric Capital, a venture capital firm focused on cryptocurrencies. Still, she added, “the wallet space is fairly competitive, so it’s not unthinkable.”
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".
Buy Bitcoin, Ethereum, Cardano, Tezos, ChainLink, and more with USD. Link your bank account, add a debit card, or use wire transfer to buy and sell crypto instantly.
Cryptocurrency prices can move in spectacular fashion, and there are a variety of triggers for such volatility. Here are a few of them: