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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
With its bullish structure now invalidated, those looking for long positions will need to eye support levels at $2.44 and $2.2. Should the crypto market remain bearish (with BTC having a probability of revisiting $60-62K), these levels are likely to come into play.
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In June, SafeMoon launched a beta version of SafeMoon Wallet, a place for storing and trading coins and required applicants to sign non-disclosure agreements.
Replying to a tweet about an underwater mud volcano, he wrote: "Cover story for Godzilla obv."
Typically, meme coins don’t gain on fundamentals. Instead, they are usually driven by an internet-based joke.
This follows the launch of new Bitcoin futures Exchange-Traded Funds (ETFs) in the form of ProShares Bitcoin Strategy ETF, as well as similar moves from Valkyrie and Van Eck.
But it wasn’t just outside pessimism that led to the slump, but infighting as well. Blockchains are decentralized, and democratic systems require buy-in from participants in order to keep the engines running. When there’s a schism that can’t be decided by the majority, all hell breaks loose.
In an interview from his home in the U.K., John Karony, SafeMoon’s 25-year-old chief executive officer, emphatically denied that his token is a Ponzi scheme. “I put everything, my identity and my credibility, on the line for SafeMoon,” he said.
'Stretched too thin': With staff 'exhausted,' schools cancel class or return to remote learning
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Brian Brooks, incoming CEO of crypto exchange Binance.US, tells CNN's Julia Chatterley that "at a certain point, finance will have migrated out of the analog age and into the digital age." He weighs in on Dogecoin, Coinbase, and regulation.
You should also look out for an email from Robinhood as the company is reaching out to people affected.
Bitcoin price skyrocketed to USD 67,803 and Ether price has gone up to USD 4,825 in the Asian trade market. Both cryptocurrencies have more than doubled since June and added nearly 70 per cent against the dollar since the start of October. While Bitcoin has a market capitalisation of USD 1 trillion, Ether is the second-biggest cryptocurrency by market value, the Reuters report said. Also Read - Diwali, Dhanteras Investment Tips: Check Top Cryptocurrencies Other Than Bitcoin
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