Despite the new record high, Bitcoin is still a highly volatile and speculative investment. In fact, the last time the crypto saw a record high in mid-April, it abruptly lost over half of its value and plunged to around $30,000 by mid-July.
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This cryptocurrency is also available and is traded on Coinbase – one of the world’s largest crypto exchange platforms. This accessibility is another reason why it’s an appealing investment option.
Overall, Coinmarketcap estimates the global crypto market has shrunk around 10% in the past 24 hours.
Time will tell whether this is the case, but right now, the Safemoon price is trading pretty close to where it was in April 2021, right before the massive price increase. Since the all-time high of $0.00001094 back in May, the Safemoon price live dropped over 87%. Furthermore, the trading volume is extremely low, with CoinGecko reporting that just over $3.5 million worth of Safemoon was traded in the last 24 hours.
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Bitcoin’s price spiked above its previous record high of $67,700 seen in late October on Tuesday morning in a continued surge of support for the world’s most popular cryptocurrency.
Currently, the global crypto market cap stands at $2.87 trillion, an increase of 4.70%. Other cryptocurrencies were also trading in the green.
Cryptocurrencies are seen as an alternative to traditional banking methods, cheaper to move money around due to not being regulated by the government or its banks.
Bitcoin, Ether Crypto Coins Surge to New Highs Before Correction, Shiba Inu, Dogecoin Slip Continues
NextAdvisor Investing Cryptocurrency Bitcoin Hit Another New All-Time High Wednesday. Why Crypto Investors Should Ignore the Ups and Downs Advertiser Disclosure Bitcoin Hit Another New All-Time High Wednesday. Why Crypto Investors Should Ignore the Ups and Downs Bitcoin set a new all-time high recently. For crypto investors, experts say it’s just more volatility to tune out.
"The U.S. historically has made very clear regulations, so we hope that will clear up," he said. "At the same time, some early adopters in this space will be better rewarded. There are uncertainties in the regulatory space, but we're willing to try."
Each major cryptocurrency has its own Wikipedia page providing an introduction to the cryptocurrency. Monitoring Wikipedia views has been seen to be a good way to track the number of new users learning about a cryptocurrency [22], and may offer different insights to the other online factors considered, being focussed primarily on less knowledgeable users.
While, theoretically, U.K. users are still able to fully use the platform, responding to the ruling, a number of U.K. banks, including Barclays and HSBC, have since banned their customers from depositing into Binance.