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This breakout happened in the recent weekend and consequently the uptrend resumed and Bitcoin is now on way to challenge its previous life high yet again.
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Bitcoin’s (BTC) price hit another all-time high at $69,000, while Ether (ETH) continued its long slog toward $5,000 after reaching a new high at $4,868 earlier on Wednesday. Shortly after hitting this fresh milestone, however, traders began taking profit, leading to a nearly $7,000 drop, which plunged BTC’s price below $63,000.
“I haven’t encountered many who would try to put up more barriers for new users,” said Maria Shen, a partner at Electric Capital, a venture capital firm focused on cryptocurrencies. Still, she added, “the wallet space is fairly competitive, so it’s not unthinkable.”
By hitting the $200m from a previous $150m market cap, Bitrise has again proven the pessimists wrong. The market cap shows that the coin is quickly gaining the confidence of the investors. There are many developments that have taken place in the last few days that have significantly driven such fast growth.
Trading Bitcoin and other crypto-currenices is a criminal activity, China's central bank says.
Laith Khalaf, financial analyst at investment platform AJ Bell, previously told The Sun that although long-term investment is encouraged, SafeMoon "doesn't sound too different from a pyramid selling scheme".
Even after falling back from its latest all-time high price, Bitcoin’s current price still represents a big upswing from the low $40,000 range seen in September.
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The worldwide crypto market capitalization is currently $2.90 trillion, decreasing 1.25% over the last day. (Shutterstock)
SafeMoon technically isn't a cryptocurrency but a DeFi token, according to its website.
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.
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Regulation across borders has to keep up with the rapidly advancing pace of cryptocurrency development. Due to the decentralized nature of cryptocurrencies, this is a complex matter, with international disagreement ranging from the legitimacy of currency status, or even whether they should be made illegal.
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