From a technical perspective, Bitcoin’s price action appears to be contained within an ascending parallel channel that developed since Oct. 4. Every time BTC has risen to this technical formation’s upper boundary since then, it has been rejected and retraced to the pattern’s lower edge. From this point, it tends to rebound, which is consistent with the characteristics of a parallel channel.
Get daily crypto briefings and weekly Bitcoin market reports delivered right to your inbox. Key Takeaways Bitcoin and Ethereum are holding above crucial support levels. Both assets could face significant losses if they lose these key interest areas. BTC could dive to $58,000 and ETH toward $3,700. This Exchange News was brought to you by OKCoin, our preferred Exchange Partner.
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Although you can create another private key and start accumulating cryptocurrency again, you can’t recover the holdings protected by your old, lost key.
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Business SpotlightHong Kong's 29-year-old crypto billionaire: FTX's Sam Bankman-Fried
Its value has now plummeted by 99.99%, said cryptocurrency data website CoinMarketCap.
The data affected by the leak includes email addresses for about 5 million users. The full names of 2 million users were also leaked.
Ether and bitcoin rallied on Tuesday to record highs off the back of a weaker dollar, taproot upgrade and positive investor sentiment.
Plenty of altcoins have also taken a beating. Dogecoin erased the breakneck gains of the week and then some, nearly halving its price after a meteoric climb last weekend. XRP is down 35% week-over-week, Stellar is down 30% and Polkadot is down 25% since last week.
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“It was almost like you just gave a 21-year-old a million dollars,” Harrison said. “I get it — they were excited to be so popular.”
Home Press Releases SafeMoon VS HUH Token: What Could $1000 Get You In Each Crypto? Press Releases SafeMoon VS HUH Token: What Could $1000 Get You In Each Crypto?
But whether that growth is sustainable, and what it means long-term, is still in question. “This crypto, blockchain technology, the public interest in it right now is being driven by a kind of speculative fever,” says Dr. Richard Smith, executive director of the Foundation for the Study of Cycles, a nonprofit organization dedicated to studying recurring patterns throughout economies and cultures.
Disclosure: At the time of writing, the author of this feature owned BTC and ETH.
Binance Coin (BNB) slipped below the $630 support on Nov. 11 but the bears could not sustain the lower levels. The altcoin staged a strong recovery and the bulls are now trying to push the price above $669.30.
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