Bitcoin made a new life high at $66,998 on 20th Oct and since then it entered into a retracement phase and subsequently prices dipped below $59,000 in the following days.
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On the downside, the zone between $67,000 and $63,750 is likely to act as a strong support. If this zone is breached, it will indicate that traders may be aggressively booking profits. The pair may then drop to the 50-day simple moving average (SMA) ($56,348).
Blockchain technology. Enables the electronic payment system for virtual currencies, but not tied to any specific currency. Companies are using blockchains to create a permanent record of transactions of such things as sales of investments, corporate records, and legal documents.
Binance.US claims to have undertaken appropriate measures dedicated to protecting its customers from theft and hacking, in line with its policy of prioritizing security.
Like traditional currencies, cryptocurrencies express value in units — for instance, you can say “I have 2.5 Bitcoin,” just as you’d say, “I have $2.50.”
“Expect very high volatility in crypto over the next few months,” he tweeted on Oct. 21.
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And new cryptocurrency applications take root with impressive frequency — Cryptomaniaks has a great look at the fast-growing world of cryptocurrency sports betting sites as just one example.
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Critics also highlighted that its website contained many spelling mistakes and grammatical errors. The website is no longer online and social media accounts promoting the tokens have also vanished.
There have been previous reports that Binance.US keeps users’ USD in FDIC-insured accounts, but posts on the Binance.US site containing that information have since been deleted. While it doesn’t guarantee the same in case of a Binance.US hack, the international version of the exchange, Binance, covered all consumer losses after a $40 million hack in 2019.
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Time will tell whether this is the case, but right now, the Safemoon price is trading pretty close to where it was in April 2021, right before the massive price increase. Since the all-time high of $0.00001094 back in May, the Safemoon price live dropped over 87%. Furthermore, the trading volume is extremely low, with CoinGecko reporting that just over $3.5 million worth of Safemoon was traded in the last 24 hours.
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People in the crypto community say it will be the next “Shiba Inu or Safemoon” due to its tremendous growth and expected great things ahead.