US futures linger at all-time highs while cryptos hit new records, as Fed rings alarm on market risks
Although short term relationships are erratic and sparse, this is the period band that contains most of the negative—although usually fleeting—relationships (shown by leftward facing arrows). The relationships link online activity increases to price falls (the converse is not observed). It is not surprising that occasionally discussion is associated with price falls, as negative events (e.g. blockchain bugs, and exchange hacks) are newsworthy in the community.
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New Delhi: Major cryptocurrencies witnessed a fall on Thursday amid global inflation concerns, which made other currencies and gold attractive. Barring Solana, all other nine out of the top 10 cryptocurrencies were trading lower at 9.30 hours IST. Cardano, Dogecoin and Polkadot shed up to 5 per cent each.
Notes: This figure plots weekly averages of log price and log computing power (log hashrate) of Bitcoin and Ethereum over the period from August 2015 to January 2019. We normalise both time series by subtracting their mean and dividing by the standard deviation.
As of 8am ET on Thursday morning, it was slightly up in early trading. Bitcoin, however, was down under $65,000 at 8am ET, according to CoinBase.
But that doesn’t mean it’s completely secure in the same way most people consider the U.S. dollar or other established currencies to be secure. Since cryptocurrency isn’t backed by any governmental authority, it doesn’t have the same protections as many standard currencies throughout the world.
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Bitwise’s chief investment officer explained why the firm has decided to drop its Bitcoin futures ETF and focus on the spot Bitcoin ETF.
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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."
We reached out to Binance and Binance.US in an attempt to confirm details about reported regulatory investigations, as well as to better understand the relationship between the international and U.S-based platforms. We didn’t hear back from officials at Binance or Binance.US, though a spokesperson contacted us on behalf of Binance.US after our review published to provide additional context on the relationship between Binance and Binance.US. They operate as separate companies, the spokesperson said in an email, with Binance.US licensing software, trademarks, and wallet technology from Binance.
Based on our SafeMoon forecast data, the currency price might trade around $0.0000425 by the end of 2021 and $0.0002553 by 2025. GOV Capital
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However, cryptocurrency experts had warned of several tell-tale signs that it was likely to be a scam.
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“You can’t ever determine how long or how far up a speculative investment can go, and you tend to be very shocked at how much it falls,” she said.
Fig 6. Wavelet coherence between Ethereum new authors and price decomposed for different period bands (with GSADF test bubble overlay).