When the hard fork arrived–and participants had to choose which path to take–the entire cryptocurrency market dropped. This is very likely what caused bitcoin to drop from the $6,000 range to around the $3,000-$4,000 range. Which brings us to today, with the cryptocurrency bottoming out at less than 80% of what it was a year ago.
Cryptocurrency existed as a theoretical construct long before the first digital alternative currencies debuted.
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At the moment, Binance.US officials promise that this gradual coverage is only the beginning, making it their mission to eventually include as many US states as possible.
The cryptocurrency market woke up to a shock in early trading on Thursday morning. On the Binance US cryptocurrency exchange, the value of Bitcoin (BTC) plummeted nearly 87 percent in value, settling around $8,200. The issue that caused the value spike was reportedly corrected swiftly and the Bitcoin value returned to its normal levels within a couple of minutes.
The latest new SafeMoon wallet listings announced on Nov. 5 include Shiba Inu, Chainlink and Aave.
Usually, when you buy stocks or cryptocurrency, the price chart is a valuable tool in your analysis. However, the combination of Safemoon’s short price history and low liquidity means that the price chart doesn’t tell us as much as it would with other cryptos. The huge spikes in April and May have been followed by a sustained decline, which has led the price to where it is right now.
To buy Safemoon, you have to add Binance Coin to your TrustWallet and then transfer that to Pancake Swap, where you can then buy Safemoon. This process is pretty complex, which is why many retail investors choose to invest in alternative cryptos.
The world of cryptocurrencies can be a tricky field to navigate for the uninitiated.
Interestingly, the breakout was initiated right as a report from the United States Bureau of Labor Statistics (BLS) showed a sharp 6.2% annual rise in the Consumer Price Index (CPI), a figure that has hit its highest mark in 30 years.
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SafeMoon is still a relatively new cryptocurrency compared to others, having only launched in March 2021.
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The worldwide crypto market capitalization is currently $2.90 trillion, decreasing 1.25% over the last day. (Shutterstock)
Campbell, J. Y. and R. J. Shiller (1988), “Stock prices, earnings, and expected dividends”, The Journal of Finance 43 (3), 661–676