Still, an increasing number of big, powerful players are validating crypto’s potential.
Bitcoin wasn’t the only cryptocurrency to feel the effects of Tesla’s decision. (Pic: Shutterstock)
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While exact predictions are impossible, we asked five experts about what they’re paying attention to in the crypto space for the rest of 2021:
As of Wednesday 9 AM (GMT+3) November 10th, here are the prices of the top 10 cryptocurrencies:
Going forward, it's impossible to know for sure how the value will change and whether it could rise further.
A number of figures have significantly impacted the cryptocurrency industry throughout its time. Satoshi Nakamoto kickstarted the sector with the creation of Bitcoin (BTC). Known for building Ethereum (ETH), Vitalik Buterin has also notably impacted the cryptocurrency movement. With Ethereum came a whole world of extra tokens built on its network called ERC-20 tokens.
“Regulation is probably one of the biggest overhangs in the crypto industry globally,” says Jeffrey Wang, head of the Americas at Amber Group, a Canada-based crypto finance firm. “We would very much welcome clear regulation.”
(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the asset/s mentioned.)
SafeMoon happens to be one of the most transparent and decentralized assets. No wonder its advantages override its limitations. That is the reason investors tend to buy SafeMoon with confidence and tracking future SafeMoon price predictions.
The same goes for the Safemoon exchange compared to the competing exchanges. The number of products that the Safemoon ecosystem will host is less than that of competing parts. In the long run, less revenue will be generated on the Safemoon network, which means the rewards for token staking will be lower compared to platforms like Bitrise.
With IG, you can trade cryptocurrencies via a CFD account – derivative products that enable you speculate on whether your chosen cryptocurrency will rise or fall in value. Prices are quoted in traditional currencies such as the US dollar, and you never take ownership of the cryptocurrency itself.
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Ether has been trading inside an ascending channel for many days. The bulls are attempting to keep the price above the centerline of the channel. The major target to watch on the upside is the psychological level at $5,000.
In early November, FTM formed an inverse head and shoulder pattern, eventually breaking the neckline with a steep rise close to $3.2. However, it is now recovering from the steep drop it experienced overnight along with the market. On its way down, it broke through several local support levels.
The Biden administration is taking steps to ensure Americans who pay for goods or services with cryptocurrencies don’t sidestep the tax man.
But of course you'll want to be wary of another possible Squid Game fiasco, which reportedly scammed users of an estimated $3.38million.
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