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That seems to be the overall message from most. Even Innes, who has been critical of bitcoin and crypto-trading for quite a while, admits that this doesn’t mean the blockchain is bunk. He, in fact, sees things looking up. “If this base can hold,” he says, “[the price will] start drifting up.” But not because of fervor or blind faith that bitcoin is the future, but due to advances on the technology side.
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Mainstream companies across industries have taken interest — and in some cases themselves invested in — cryptocurrency and blockchain in 2021. AMC, for example, recently announced it will be able to accept Bitcoin payments by the end of this year. Fintech companies like PayPal and Square are also betting on crypto by allowing users to buy on their platforms. Tesla continues to go back and forth on its acceptance of Bitcoin payments, though the company holds billions in crypto assets. Experts predict more and more of this buy-in.
Even if this were the case, and Safemoon coin was to increase in price dramatically before an instant fall, it would still represent a good investment for purely speculative investors. For example, if Safemoon were to simply return to the all-time high experienced on April 20th, then that would represent an incredible 921% return from today’s price!
Business News›Markets›Cryptocurrency›Top cryptocurrency prices today: Solana, Binance Coin fall; XRP jumps 9%
Unlike traditional currencies, cryptocurrencies exist only as a shared digital record of ownership, stored on a blockchain. When a user wants to send cryptocurrency units to another user, they send it to that user’s digital wallet. The transaction isn’t considered final until it has been verified and added to the blockchain through a process called mining. This is also how new cryptocurrency tokens are usually created.
In 2019 Facebook said it plans to introduce a cryptocurrency that at the time was called Libra.
The Bank of England's Sir Jon Cunliffe raises concerns about the financial stability risk of cryptocurrencies.
But before you look further make sure you’re aware of the risks when it comes to cryptocurrencies in general.
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The cryptocurrency industry has come a long way in recent years. More than ever before, crypto traders have endless options on where they want to trade. They can trade on centralized exchanges, decentralized exchanges, and even brokerages such as Robinhood.
On Tuesday 9 November, Bitcoin’s price was trading up by roughly 11.5% on the last week after soaring to a new record price of over $68,000 on Tuesday morning.
Immediately after the platform went live, Binance.US also launched its Referral Program with a range of rewards being available to the customers and their referees under certain requirements.
But of course you'll want to be wary of another possible Squid Game fiasco, which reportedly scammed users of an estimated $3.38million.
Squid Game cryptocurrency rockets in valueChinese viewers slam 'copycat' Squid Game show
Bitcoin’s current rally has been fueled by the U.S. trading debut of a Bitcoin-linked ETF as well as Elon Musk’s weekend Twitter poll, said Ben Caselin, head of research and strategy at crypto exchange AAX. “With Shiba and other memecoins having surged recently, and Facebook’s rebranding to Meta, interest in altcoins continues to rise.”
And that, we regret to inform you, has led to some rather silly thinking (highly unusual in the crypto community, we know), specifically of the chart-crime variety: