And while proponents tout cryptocurrencies as potentially lucrative alternative investments, few serious financial professionals view most coins — with the important exception of Bitcoin and a few others — as suitable for anything other than pure speculation.
Gensler recently went so far as to say investors are “likely to get hurt” if stricter regulation is not introduced. Plus, the IRS has an obvious interest in making sure investors know how to report virtual currency when they file their taxes.
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Early cryptocurrency proponents shared the goal of applying cutting-edge mathematical and computer science principles to solve what they perceived as practical and political shortcomings of “traditional” fiat currencies.
Next in line is Bitrise exchange, which is more powerful than the Safemoon Exchange. The IBitrise blockchain will launch last and is said to be using Relaychain and parachains. It's still in the development stage and is already a talk in the crypto market.
This breakout happened in the recent weekend and consequently the uptrend resumed and Bitcoin is now on way to challenge its previous life high yet again.
In early November, FTM formed an inverse head and shoulder pattern, eventually breaking the neckline with a steep rise close to $3.2. However, it is now recovering from the steep drop it experienced overnight along with the market. On its way down, it broke through several local support levels.
The encryption algorithm is slightly different as well. Litecoin is often the second- or third-most popular cryptocurrency by market capitalization.
MIAMI (AP) — El Salvador is betting that this week's pioneering adoption of Bitcoin will spur its economy, especially one of its most crucial sources of revenue: money sent home by Salvadorans in the United States.
NEW YORK (AP) — An Australian man who pleaded guilty to securities fraud for cheating investors in his cryptocurrency fund of over $50 million was sentenced to over seven years in prison Wednesday by a judge who questioned the sincerity of his apology.
Terra’s LUNA token has been trading inside a rising wedge pattern. The bulls attempted to push the price to the resistance line of the wedge on Nov. 8 but could not sustain the higher levels.
The crypto prices today are trading in the red as Bitcoin, as well as the altcoins, have retreated after a strong week of rallies to new all-time highs.
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Bitwise’s chief investment officer explained why the firm has decided to drop its Bitcoin futures ETF and focus on the spot Bitcoin ETF.
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Bitcoin had rallied 220% in 4Q 2017 and if history repeats itself, Bitcoin could reach $96,355, which could potentially be this cycle’s top.
There was also a big debate on Safemoon tokenomics. Most of the competing coins have a more attractive and innovative tokenomic than Safemoon. While the Bitrise coin has an automated redemption and burn process, Safemoon burns manually. This means that the liquidity regulation of the Safemoon token is less transparent.
Generally, this means miners receive fewer new units per new block as time goes on. Eventually, miners will only receive transaction fees for their work, although this has yet to happen in practice and may not for some time.