The surge in Bitcoin’s value in recent weeks follows the much anticipated first Bitcoin ETF debuting on the New York Stock Exchange, and a record-breaking October for the stock market in general.
We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.
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Accounts that hold vast amounts of a cryptocurrency may begin to sell, causing prices to plummet. These accounts are known as whales because they have a significant position and can influence the market if a group of people agrees to sell crypto assets.
The decision to buy cryptocurrency should always have a long-term outlook, as crypto prices can be particularly volatile. Safemoon is no different, as in its short lifespan, the price has already exhibited some significant price swings. To get a better sense of Safemoon’s outlook, let’s take a look at the technical and fundamental factors that could shape price in the future.
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NRIs experiment with Cryptos for remittances: Deciphering the risks and opportunities
SafeMoon had a very promising launch and maxed out at an impressive market price of $0.00001375. Many tokens and coins have price spikes soon after launch as this is the time when interest is at its peak for new potential investments. Investors were hoping that the market price would settle somewhere around this level and continue to rise at a more sustainable rate. Unfortunately, this was not the case, SafeMoon witnessed its market price continuously drop until it was priced around $0.000003458.
“We are concerned about rapid increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel,” Musk said on Twitter...
The hype surrounding popular memecoin Dogecoin had appeared to diminish recently as new altcoins took centre stage.
Bitcoin and Cryptocurrency Trading for Beginners 2021: 3 Books in 1: The Ultimate Guide to Start Investing in Crypto and Make Massive Profit with Bitcoin, Altcoin, Non-Fungible Tokens and Crypto Art
Such volatility in crypto markets is nothing new. With no formal structure and countless competing exchanges, trading in the digital currency is still akin to settling out in the old American West. Earlier this month, decentralized finance platform Synthetify was forced to halt all trading due to a bug in the platform that provides pricing data. The same software responsible for Synthetify’s troubles was also blamed for a September Bitcoin crash.
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He added: "You’re simply reliant on someone further down the line being willing to pay more than you did to turn a profit, which is a risky bet indeed."
BEIJING (AP) — China’s central bank on Friday declared all transactions involving Bitcoin and other virtual currencies illegal, stepping up a campaign to block use of unofficial digital money.
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