Replying to a tweet about an underwater mud volcano, he wrote: "Cover story for Godzilla obv."
The longer term relationship varies over time. After exhibiting strong positive correlation in 2013 (where prices rose), and 2014 (where prices fell for a sustained interval), the longer term relationship between Bitcoin and Litecoin starts to break down around the middle of 2015. It can be seen in the accompanying price plot that at this point the Bitcoin price starts to gradually recover, whereas the Litecoin price does not.
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Cryptocurrencies are seen as an alternative to traditional banking methods, cheaper to move money around due to not being regulated by the government or its banks.
In recent days, the company has stopped those in Singapore from making trades on their platform, reacting to a tightening in regulations locally. While Binance remains the most preferable of the two platforms currently, it is important to remember that changes such as these have an effect on which may come out on top.
"For any centralized service, we have to do [client verification] and hold customer data," Zhao said. "On top of that we have to hold customer assets. Unlike banks, when the assets get stolen it's difficult to get them back. There's a high responsibility on the centralized exchanges we need to carry out well."
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.
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The debacle was tinged with irony, coming just as Binance CEO Changpeng Zhao, also known as CZ, warned about incoming volatility.
BusinessCryptocurrencyBitcoin Crashed 87% On Binance's U.S. Exchange Due To Algo Bug Another day, another major snafu in cryptocurrency trading. The price of Bitcoin rapidly plunged about 87% on Binance's U.S. exchange Thursday morning.
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Bitfury has appointed former Binance US boss Brian Brooks as CEO. Former financial regulators are in control of one of the world’s largest crypto mining outfits when the industry is booming.
Bitcoin price hits new record high - why is Bitcoin up today? Cryptocurrency prices of Bitcoin, ETH and Shiba Inu (Image credit: Getty Images/Canva Pro)
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“Bitcoin has outperformed gold, the most widely regarded inflation hedge, by a considerable margin year-to-date, having gained over 130% compared with gold’s 4% decline.”BTC/USDT daily chart: Source: TradingView