Why is crypto down today? Cryptocurrency market crash, China ban - prices of Bitcoin, Shiba Inu and Ethereum
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Cryptocurrencies are seen as an alternative to traditional banking methods, cheaper to move money around due to not being regulated by the government or its banks.
While the platform has started accepting account registrations and deposits/withdrawals of cryptocurrencies, its services do not yet cover the entirety of the US market, as the following states have been excluded from its support as of the time of writing the review (September 19, 2019):
A look at funding rates across exchanges hints at excessive optimism, with traders going long on BTC en masse — a classic indicator of a correction.
At 6am on Tuesday 9 November, Ethereum reached $4,842.54 according to Coinbase, setting a new record for the popular cryptocurrency synonymous with the rising crypto trend of NFTs.
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Despite this, Safemoon has a small but fiercely loyal base of fans who continue to hold the token for the long term. This fanbase has kept the price of Safemoon above zero, despite a sudden drop from all-time highs in April and May of 2021.
The algorithm allowed for secure, unalterable information exchanges between parties, laying the groundwork for future electronic currency transfers.
When Covid numbers goes up, Bitcoin goes up. Based on this analysis I am issuing a BUY order on Bitcoin with a price target of $1 million by September. Attached is my analysis with the Bitcoin chart just above the Covid chart. All thoughts welcome. pic.twitter.com/AeMAEAixn9
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In an interview from his home in the U.K., John Karony, SafeMoon’s 25-year-old chief executive officer, emphatically denied that his token is a Ponzi scheme. “I put everything, my identity and my credibility, on the line for SafeMoon,” he said.
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DAVIDSON: Maybe the best answer is slowly at first and then all of a sudden, which is the same way people go bankrupt, by the way.
SafeMoon is still a relatively new cryptocurrency compared to others, having only launched in March 2021.
On the other hand, cryptocurrencies come with a host of risks and drawbacks, such as illiquidity and value volatility, that don’t affect many fiat currencies.