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Bitcoin’s price spiked above its previous record high of $67,700 seen in late October on Tuesday morning in a continued surge of support for the world’s most popular cryptocurrency.
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“One of our institutional traders indicated to us that they had a bug in their trading algorithm, which appears to have caused the sell-off,” Binance.US said in the statement. “We are continuing to look into the event, but understand from the trader that they have now fixed their bug and that the issue appears to have been resolved.”
Despite its success, SafeMoon still remains to be an undervalued crypto among the investors’ community. The coin is still in its initial days as it was launched in March, 2021. Early investors would be rewarded in the long run when the token finds it way into top trading platforms.
Bitcoin price hits new record high - why is Bitcoin up today? Cryptocurrency prices of Bitcoin, ETH and Shiba Inu (Image credit: Getty Images/Canva Pro)
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Very generously our tweeter credits another crypto fanatic for the remarkable analysis, who had drawn up his own chart just days earlier:
A blockchain is a shared digital register of recorded data. For cryptocurrencies, this is the transaction history for every unit of the cryptocurrency, which shows how ownership has changed over time. Blockchain works by recording transactions in ‘blocks’, with new blocks added at the front of the chain.
It seems all too fitting that Facebook’s plans to launch a digital coin were leaked in the second-to-last week of a year that saw the tech giant’s reputation pummeled and cryptocurrencies crash and burn. It’s like grilling a shit sandwich over a dumpster fire.
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.”
Cook didn't specify which coin he owns, like bitcoin or ethereum, but he said Tuesday that the space is something he's been interested in for a while.
In other words, if you're waiting for Safemoon to hit $1, you'll likely be waiting for a long time.
The first cryptocurrency was bitcoin. The bitcoin domain was registered in 2008, but the first transaction took place in 2009. It was developed by someone called ‘Satoshi Nakamoto’. However, there is speculation that Nakamoto is a pseudonym as the bitcoin creator is notoriously secretive, and no one knows whether ‘he’ is a person or a group.
Typically valued for less than one dollar, Loopring prices are now over $3 a share.
Indians' investments in crypto grew from about $200 million to nearly $40 billion in the past year