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Within its first eight days of existence, DogeZilla has been said to have grown into a super microcap of $500million from just $50,000.
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EL ZONTE, El Salvador (AP) — After El Salvador’s congress made the bitcoin legal tender this week, eyes turned to this rural fishing village on the Pacific coast. Known to surfers for its pounding waves, El Zonte has had the cryptocurrency in its economy for the past year.
The bullish rise and increased confidence in Bitcoin will likely see it remain at prices fluctuating between $60,000 and $70,000 but with increased resistance as it looks toward a $100,000 price prediction in 2022.
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This positive view will invalidate if the price turns down from the current level or the overhead resistance and plummets below the support line of the wedge.
The goal is to keep the average interval between new blockchain creations steady at a predetermined level. Bitcoin’s is 10 minutes, for instance.
It was first outlined in a 2008 white paper published by Satoshi Nakamoto, a pseudonymous person or group.
Through instructions in their source codes, cryptocurrencies automatically adjust to the amount of mining power working to create new blockchain copies — copies become more difficult to create as mining power increases and easier to create as mining power decreases.
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And, importantly, just because cryptocurrency is secure does not make it safe. As much as some of the recent popularity of cryptocurrency is driven by investors’ belief in its value, that value is still based on speculation. For those who invest in crypto, it will be among the riskiest investments they make.
Jegadeesh, N. and S. Titman (1993), “Returns to buying winners and selling losers: Implications for stock market efficiency”, The Journal of Finance 48 (1), 65–91.
NFTs can be anything digital, and are commonly being used as a way to buy and sell digital art.
Still, an increasing number of big, powerful players are validating crypto’s potential.
Bitcoin hit an all-time high of $68,530.34 early Tuesday, according to CoinMarketCap. That's just a few weeks after it hit a previous high of nearly $67,000 before sliding as much as 12%.
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