The above prices are as of 01.09 pm IST on November 9 (Data courtesy: coinmarketcap.com).
Coins are designed to be used as a kind of currency and are created on their own blockchain. For example, Ether is a cryptocurrency based on the Ethereum blockchain.
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SafeMoon today trades around 0.0000027 a coin with a market capitalization of about US$1.6 billion, sharply lower than its high of almost US$6 billion in mid-May, according to CoinMarketCap. Article content More On This Topic Stablecoins: The cryptocurrency that keeps central bankers up at night Canada missed its crypto moment, but it might not be too late to exploit our edge Cryptocurrency exchange Binance to stop support for stock tokens Bitcoin miners navigate the extreme world of crypto power-hunting
Even if this were the case, and Safemoon coin was to increase in price dramatically before an instant fall, it would still represent a good investment for purely speculative investors. For example, if Safemoon were to simply return to the all-time high experienced on April 20th, then that would represent an incredible 921% return from today’s price!
In this eventuality, BTC could drop toward the 100 or 200 four-hour moving average. These demand zones sit at $59,000 and $52,000 respectively.
Posts per day and new authors can be retrieved from each subreddit programmatically; each post is timestamped, so historical time series can be generated by iterating through the posts. Posts per day are used here rather than comments per day. Each post on Reddit can have a number of associated comments in a one-to-many type relationship. However, examples exist where huge numbers of comments are generated that are unrelated to market activity; for example, sometimes people give away small amounts of cryptocurrency to everyone who comments with their public blockchain wallet address; this causes a huge spike in comments (wavelet coherence between comments per day and price were also generated, but as was expected showed less significant relationships than posts per day and price).
You might recall that back in the very early days of Covid-19 (or just “coronavirus” as it was then known), some crypto nutters enthusiasts started getting excited about the idea that the virus would be good for bitcoin because “paper money” “might be the source of #CORONAVIRUS #SARS2 infection”. After all, “fiat is dirty”:
Bitcoin (BTC)Bitcoin Cash (BCH)Binance Coin (BNB)Ethereum (ETH)Litecoin (LTC)Tether (USDT)Ripple (XRP)
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Meanwhile, Ethereum also hit a record — rising to $4,837.59, according to CoinMarketCap.
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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:
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Three Bitcoin (BTC) on-chain indicators signaling a bullish end of the year Juan Pellicer · 4 days ago · 4 min read
It appears the coin became widely recognised on Twitter and many of its posts have thousands of likes by cryptocurrency watchers.