Cardano (ADA) broke and closed above the downtrend line on Nov. 9, indicating that the selling pressure is decreasing. The bears are currently attempting to pull the price back below the breakout level.
Analyst Ken Goldman cites concerns over the imitation-meat company's wider-than-expected third-quarter losses.
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NewsBusiness NewsCryptocurrency NewsCryptocurrency Prices Today: Bitcoin and Ethereum gain over 10% in the last week
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The market seems to have taken a turn this morning as a correction has set in. Both BTC and ETH have witnessed a small correction, said Zebpay Trade Desk. The same is happening in altcoins as well, it added.
According to the essayontime.co.uk platform, ethereum came out many years after hundreds of cryptocurrencies hit the crypto market but has surpassed them by far due to its unique technology.
Ultimately, many experts believe regulation is a good thing for the industry. “Sensible regulation is a win for everyone,” says Ben Weiss, CEO and cofounder of CoinFlip, a cryptocurrency buying platform and crypto ATM network. “It gives people more confidence in crypto, but I think it’s something we have to take our time on and we have to get it right.”
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According to analysts’ forecast, SafeMoon price will hit the $1 level soonest as the price has been showing bullish momentum, steadily moving up since the beginning to attract more buyers. Despite the escalation in SafeMoon cryptocurrency, analysts are cautiously looking at the cryptocurrency market outlook due to the recent drop in crypto prices to their support levels.
Cryptocurrency is a good investment if you want to gain direct exposure to the demand for digital currency, while a safer but potentially less lucrative alternative is to buy the stocks of companies with exposure to cryptocurrencies.
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“Even with how nascent this industry is, the serious Decentraland players have managed to create a significant income from buying and selling Nft items,” Patrick Moore, founder and creator of Bitcoin and cryptocurrency information website CryptoWhat, told The Sun.
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But to understand the dynamic that led to this year’s depressing year for crypto, we actually should start a few years before 2018. In bitcoin’s early days, Mt. Gox was the go-to service for handling transactions. Then, in 2014, it halted transactions and slowly copped to a crypto-hack to the tune of $473 million, the biggest hack of its kind at the time, and it gave many people pause. But it was still early enough for people to believe that the blockchain system was still getting all the technical kinks out.