Coinbase: unlike bitcoin, there are two sides to volatile volumes Premium content Save
Bitcoin plunged to as low as $8,200 on Binances U.S. exchange from around $65,000.
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And that, we regret to inform you, has led to some rather silly thinking (highly unusual in the crypto community, we know), specifically of the chart-crime variety:
The pair could first drop to $4,146.30 but if this support also gives way, the correction could reach the psychological support at $4,000.
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Musk has been a long-time advocate of cryptocurrencies and the Tesla decision was felt across the market, with other digital tokens going down in price.
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Unlike traditional payment processors, such as PayPal and credit cards, most cryptocurrencies have no built-in refund or chargeback functions, although some newer cryptocurrencies have rudimentary refund features.
Safemoon crypto recently began to spike in price after the developers announced a new cryptocurrency wallet. The Safemoon digital currency wallet is coming soon and the project has been heavily advertising it. With this extra string in its bow, many are rushing to invest in the native Safemoon altcoin.
Ripple is also more easily converted than other cryptocurrencies with an in-house currency exchange that can convert Ripple units into U.S. dollars, yen, euros, and other common currencies.
Although analysis of a single factor and cryptocurrency combination, as above, is of interest, more general findings across multiple cryptocurrency/factor combinations can also be pursued. Fig 7 shows, for each cryptocurrency and factor combination, the mean coherence values during the bubble and non-bubble regimes. Each horizontal subplot shows a different coherence period band, from the lowest period band (2–4 days) at the top to the highest period band (256–512 days) at the bottom. As the duration of data for each cryptocurrency varies, certain ranges are left blank when that cryptocurrency does not have enough data to produce values for such bands.
Indeed, following its nearly $20,000 peak, bitcoin in early 2018 dropped to around $10,000 and hovered there for a while.
There has also been a big debate on Safemoon tokenomics. Most of the competing coins have more appealing and innovative tokenomics than Safemoon. Whereas the Bitrise coin has an automated buyback and burning process, Safemoon is burning manually. This means the regulation of the Safemoon token liquidity is less transparent.
The SafeMoon Protocol is a community driven, fair launched DeFi Token. Three simple functions occur during each trade: Reflection, LP Acquisition, & Burn.
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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.