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This question does not have a plain vanilla answer in ‘yes’ or ‘no’, as the government and the central bank still look unsure as to how to deal with this new-age phenomenon. In 2018, The Reserve Bank of India (RBI) came out strongly and kind of banned these tokens in India. Then in 2020, the Supreme Court of India reversed the RBI ban. That move was welcomed by the crypto exchanges and investors throughout the country. After this, Indian banks have tried to curtail transactions with crypto-exchanges as, in their view, they are governed by RBI. But later, RBI mentioned that banks cannot quote its 2018 ban to customers as it was overruled by the Supreme Court, paving the way for crypto trading to continue in India.
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Like traditional currencies, cryptocurrencies express value in units — for instance, you can say “I have 2.5 Bitcoin,” just as you’d say, “I have $2.50.”
The exchange is cutting off Chinese users and will lose a third of revenues from next year, co-founder tells FT News
The pair could first drop to $4,146.30 but if this support also gives way, the correction could reach the psychological support at $4,000.
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Decentralized NFT Marketplace: The EverGrow team is also creating the world's first decentralized NFT lending platform. The platform will be based on BSC, which would enable NFT owners to easily borrow against their NFTs as collateral at reasonable interest rates without having to sell them. This will allow individuals to generate money just by lending their NFTs.
Makarov, I. and A. Schoar (2018), “Trading and arbitrage in cryptocurrency markets”, Journal of Financial Economics, forthcoming .
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International Chess Federation becomes the first-ever global sports body to launch its NFT marketplace
Redditors recommend buying SafeMoon on every dip. SafeMoon will continue to be appreciated by the buyers and sellers for trading on exchanges of the crypto market, with a solid increase in price showing a potential of $0.009 over this year. Reddit Community
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Fig 5. Wavelet coherence scalograms between online factors and price (with GSADF test bubble overlay) for Litecoin and Bitcoin.
With its hourly RSI nearly bottoming out at around 30, there is a case for optimism. However, to resume bullish movement, FTM will need to hold $2.5 and the nearest resistance at $2.72, based on a 50% fibonacci retracement. It will then need to claim the $2.87 level in the short term. Should it succeed, the key daily level of $3.18 is attainable.