New York City Mayor-elect Eric Adams pledged Thursday that he would accept his first three paychecks in bitcoin when he formally takes office next year.
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.
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The SafeMoon price is already rising massively in the last 12 months, and it has marked an all-time high price of $0.00001399 a month ago. As per price predictions by analysts, SafeMoon price would close to a new all-time high level before this year-end without any resistance level indication. One more reason for this is the corporate SafeMoon involved in developing charity projects, influencing the liquidity pool attracting more users for investment.
“I know these things are super volatile, like some days they can go down 80%,” Humphrey Yang, the personal finance expert behind Humphrey Talks, previously told NextAdvisor. “But if you believe in the long-term potential of [Bitcoin], just don’t check on it. That’s the best thing you can do.”
Makarov, I. and A. Schoar (2018), “Trading and arbitrage in cryptocurrency markets”, Journal of Financial Economics, forthcoming .
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In June, the Chinese Government cracked down on considerable crypto mining operations taking place in the Sichuan province and demanded that Chinese banks and payment channels stop supporting decentralised and anonymous crypto transactions.
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Can Bitcoin and altcoins sustain their bullish momentum or will profit-booking drag prices lower? Let’s study the charts of the top 10 cryptocurrencies to find out.
BusinessCryptocurrencyBitcoin Crashed 87% On Binance's U.S. Exchange Due To Algo Bug Another day, another major snafu in cryptocurrency trading. The price of Bitcoin rapidly plunged about 87% on Binance's U.S. exchange Thursday morning.
Difficulties impacted all three SafeMoon wallet products - its Android and iOS versions, and the website's buy and swap function.
Though both assets posted a quick recovery, the event has made a significant impact on the market. Bitcoin retraced by 7.4% a few hours after making a new all-time high at $67,000.
Squid, which marketed itself as a "play-to-earn cryptocurrency", had seen its price soar in recent days - surging by thousands of per cent.
Due to this, the process to invest in Safemoon involves transferring funds from a TrustWallet to Pancake Swap and then exchanging them into Safemoon. This process can be hard to follow for beginner investors, so it’s likely better to wait until Safemoon is added to a reliable and licensed broker.
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