But even this kind of pullback could not kill the inherent uptrend and in one of our previous reports, we mentioned that a breakout above $62,500 was required for BTC to resume strength.
Cochrane, J. H. (2011), “Discount rates”, The Journal of Finance 66 (4), 1047–1108.
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You might recall that back in the very early days of Covid-19 (or just “coronavirus” as it was then known), some crypto nutters enthusiasts started getting excited about the idea that the virus would be good for bitcoin because “paper money” “might be the source of #CORONAVIRUS #SARS2 infection”. After all, “fiat is dirty”:
The nation’s president Nayib Bukele passed a bill in June that stated that from September 7, Bitcoin can be used in any transaction and all businesses must accept the e-currency as payment.
"Over the past week, Ethereum scored another all-time high and Binance Coin traded strongly in the greens," it added. "Solana surpassed Tether and Cardano to be the fourth largest crypto."
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Altcoins also sometimes differ in the method of verification used to authenticate transactions. While some altcoins use Proof-of-Work systems, others use Proof-of-Stake consensus, which replaces miners with validators. Proof-Of-Stake mining requires a lot less energy and fewer resources than Proof-Of-Work systems since Proof-Of-Work miners have to do much more ‘work’ to mine blocks.
A layer-one smart contract platform, Fantom, is another take on smart blockchain commonly represented by Ethereum, Solana and the likes. However, its compatibility with the ERC20 standard ensures that users can purchase an Ethereum-compatible FTM token, which can be converted to a native FTM compatible token once they initiate a transfer to their wallet.
Rising inflationary pressures are dragging stocks and bonds, which may prompt the Fed to hike interest rates earlier than expected, an expert said.
Nonfungible tokens, or NFTs, are yet another type of cryptocurrency, denoting that it is a one-of-a-kind asset and cannot be replaced. A Bitcoin, for example, is fungible, meaning you can exchange one for another and get precisely the identical thing. However, a one-of-a-kind trade card, on the other hand, cannot be duplicated. You’d get something altogether different if you swapped it for a different card.
Speculation is a prominent influence on cryptocurrency prices. As seen with the collapse of Bitcoin’s price in 2018, following a bull run from around $1,000 to just shy of $20,000 in 2017, experienced and inexperienced traders alike can go long for too long – expecting the price to keep rising and fearing missing out on the party.
Overall, Coinmarketcap estimates the global crypto market has shrunk around 10% in the past 24 hours.
The decentralized finance (DeFi) protocol released its highly anticipated wallet at 17:00 CET on August 28. However, less than 30 minutes after, Safemoon’s CEO John Karony posted a tweet revealing that they had encountered “technical difficulties.”
If you don’t currently have a wallet, you can download the MetaMask or Trust Wallet browser extensions to get started. These browser extensions give you password-protected access and control over all your tokens.
Like many other meme-based altcoins, Safemoon is a very high-risk investment. If you’re game, read on and find out how to buy Safemoon tokens of your own.
An NFT marketplace is used to list NFTs and ensure they are accessible for trading.
Marketplaces allow users to promote their NFTs, where buyers can browse through and bid on what they would like to purchase.