The plunge occurred at 7:34 a.m. New York time, according to the Binance.US website. Volume on the exchange in that minute was 592.8 Bitcoin, which are worth just shy of $40 million at current prevailing prices.
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.
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ST. MARTIN, Miss. (AP) — A south Mississippi church is allowing parishioners to give offering or pay tithes using cryptocurrency.
LUMMIS: We want the innovators to innovate. We want to create a space where the United States is the leader in opportunity for the creation and use of digital assets.
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Hank Wyatt, SafeMoon’s vice president of research and development, said in a Discord chat that the team will eventually “host an open beta” version before releasing the full application.
Of course, crypto is notoriously volatile. The last time Bitcoin reached these levels, it fell back several thousand dollars, and it’s undergone multiple corrections that take it down by half or more. Other coins are even more volatile – the memecoins bounce back and forth wildly at times – and scams and hacks occur with some frequency.
Bitcoin’s price has taken a wild ride so far in 2021, and in November set another new all-time high price when it went over $68,000. This latest record high follows previous high points over $60,000 in April and October, as well as a summer drop to less than $30,000 in July. This volatility is a big part of why experts recommend keeping your crypto investments to less than 5% of your portfolio to begin with.
Some investors have predicted even bigger gains for Bitcoin, despite continued criticism of the cryptocurrency by JPMorgan Chase (JPM)CEO Jamie Dimon, who has called the coin "worthless."
The blockchain technology backing cryptocurrency is inherently secure, thanks to the decentralized — and public — nature of distributed ledger technology and the encryption process every transaction undergoes.
“Altcoin” refers to any blockchain-based cryptocurrency that isn’t Bitcoin. The term “altcoin” was coined as a shorthand for “alternative to Bitcoin,” and the vast majority of altcoins were created to improve Bitcoin somehow. Namecoin, Peercoin, Litecoin (LTC), Ethereum and USD Coin (USDC) are examples of altcoins.
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If they succeed, it will suggest that the break above the downtrend line may have been a bear trap. The ADA/USDT pair could then drop below the moving averages and retest the critical support at $1.87.
Shortly after Bitcoin’s latest all-time high, Ethereum marked its own new all-time high last month when its price went over $4,400.
There are several online news outlets dedicated to covering all cryptocurrency developments alongside active community forums which dissect every feature of every project. Developers across these projects are aware of the influence media can have on the perception of a crypto’s value.
Meanwhile, Cardano (ADA) prices are fluctuating around $2.37 (£1.75) in a 16% increase on the last 24 hours, XRP Ripple was up 2.39% at $1.27 (£0.937129) and Solana at $244.80 (£180.39) as of 2.50pm on Tuesday.
Terra’s LUNA token has been trading inside a rising wedge pattern. The bulls attempted to push the price to the resistance line of the wedge on Nov. 8 but could not sustain the higher levels.