Bitcoin price recently recorded a new all-time high at near $69,000 on November 10 fueled by sustained inflation. The argument that the leading cryptocurrency is a hedge against rising cost pressures has been fueled by inflationary fears. More Bitcoin News Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive
Worth noting: Once upon a time, cryptocurrency mining was a potentially lucrative side business for those with the resources to invest in power- and hardware-intensive mining operations.
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But even this kind of pullback could not kill the inherent uptrend and in one of our previous reports, we mentioned that a breakout above $62,500 was required for BTC to resume strength.
But that doesn’t mean it’s completely secure in the same way most people consider the U.S. dollar or other established currencies to be secure. Since cryptocurrency isn’t backed by any governmental authority, it doesn’t have the same protections as many standard currencies throughout the world.
Contrary to this assumption, if the pair rebounds off the current level and rises above the downtrend line, it could reach $0.000065. The flattish 20-day EMA and the RSI near the midpoint suggest a range-bound action in the near term.
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Yet tales of meme-coin holders becoming millionaires have attracted new waves of retail investors to crypto — along with a growing number of nefarious players. In May, the Federal Trade Commission tallied a record number of crypto investment scams, with Americans’ losses totalling around US$80 million since October.
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Malta-based cryptocurrency exchange Binance will launch its U.S. division within the next two months, according to CEO Changpeng Zhao.
Dogecoin price slump continues after Doge co-founder slams cryptocurrencies as 'scam' and China clamps down on crypto mining
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.
‘Not Considering’: Zimbabwe Government Clarifies Stance on Legalising Cryptocurrency
Dogecoin price has been stuck under a crucial barrier for roughly five months. Although DOGE rallied on October 28, it failed to push through this hurdle, leading to consolidation. However, the increased coiling up suggests that the dog-themed cryptocurrency is due for a breakout. More Dogecoin News SafeMoon launches V2 with faster contract execution, setting prices up for a breakout More SafeMoon News VeChain price to undergo explosive 60% breakout
As of Wednesday 9 AM (GMT+3) November 10th, here are the prices of the top 10 cryptocurrencies:
The newcomer HUH Token if nothing else should benefit from an initial spike in price as many currencies do. Investing early is how to take advantage of these sharp price increases and HUH token could replicate Shiba Inu’s market performance and return millions.