And while the cryptocurrency has since dipped slightly on Tuesday afternoon, it is still up by a whopping 350% on Bitcoin’s price at 7 November 2020 after nearing the new $70,000 threshold.
Shiba Inu coin price soars again in continued price pump - what Shiba Inu coin i...
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SafeMoon doesn't tout itself as a cryptocurrency but instead as a DeFi token, a decentralised finance token. DeFi’s aim is to bring about disruption to the financial world and enable people to lend in peer-to-peer networks without needing a physical bank.
Mr Rocket also cited some concerns over whether there is a "strong liquidity pool" or not.
Wavelet coherence plots between (a) Bitcoin and Litecoin prices; (b) Bitcoin and Monero prices; (c) Bitcoin and Ethereum.
Bitcoin (BTC) and Ether (ETH) have again risen to a new all-time high on Nov. 10, indicating that the trend remains firmly in favor of the bulls.
But of course you'll want to be wary of another possible Squid Game fiasco, which reportedly scammed users of an estimated $3.38million.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.
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From a technical perspective, Bitcoin’s price action appears to be contained within an ascending parallel channel that developed since Oct. 4. Every time BTC has risen to this technical formation’s upper boundary since then, it has been rejected and retraced to the pattern’s lower edge. From this point, it tends to rebound, which is consistent with the characteristics of a parallel channel.
The most fundamental thing you need to understand about Safemoon is that it is not a crypto coin. It is a token that operates on the Binance Smart Chain (BSC). In crypto jargon, a coin is a cryptocurrency that operates on its own blockchain. It is not the same as a token.
Everything you need to know about bitcoin, blockchain, NFTs and more. Plus, the latest cryptocurrency news, interviews and investing guides.
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If there is one thing we all know about cryptocurrencies, it is that they are volatile. The stories about people making millions during a crypto upswing make the headlines frequently – but so do the stories of people who lose everything during the downswings.
As a beginner in crypto, you’re unlikely to know which cryptocurrency is the best and which one to invest in. There are more than 6000 cryptocurrencies, so picking out the best one with high growth potential by yourself may be an arduous task. Bitcoin is an obvious crypto investment given its popularity and constant growth – even with the frequent market volatility. However, there are many other cryptocurrencies that you can invest in with high growth potential as well.
But some say the BITO ETF is not enough, because while the fund is linked to Bitcoin, it does not actually hold the crypto directly. The fund instead holds Bitcoin futures contracts. While Bitcoin futures follow the general trends of the actual crypto, experts say it may not track the price of Bitcoin directly. For now, investors must continue waiting for an ETF that holds Bitcoin directly.