A look at the recent charts shows that Safemoon has been on a downward trend since the start of November. Safemoon has also not been doing very well since its last all-time high around 21st April 2021. Despite a surge in mid-May, the next time Safemoon experienced bullish growth was the end of October.
(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the asset/s mentioned.)
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Connor is a Scottish financial expert, specialising in wealth management and equity investing. Based in Glasgow, Connor writes full-time for a wide selection of financial websites, whilst also providing startup consulting to small businesses. Holding a Bachelor’s degree in Finance, and a Master’s degree in Investment Fund Management, Connor has extensive knowledge in the investing space, and has also written two theses on mutual funds and the UK market. View all posts by Connor Brooke It’s an Italian Thing Employer Insurance Premium Growth – Still a Problem Does Japan’s Democracy Have Room for Women and Children? Move Over Oil, It’s LNG Thursday Headlines: OPEC, Deutsche Bank and Many Fed Speakers Remember September (for Jobs Data)
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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Mainstream companies across industries have taken interest — and in some cases themselves invested in — cryptocurrency and blockchain in 2021. AMC, for example, recently announced it will be able to accept Bitcoin payments by the end of this year. Fintech companies like PayPal and Square are also betting on crypto by allowing users to buy on their platforms. Tesla continues to go back and forth on its acceptance of Bitcoin payments, though the company holds billions in crypto assets. Experts predict more and more of this buy-in.
Among those who called it, hedge fund manager Mark Dow wrote almost exactly a year ago about his decision to short bitcoin after future trading on it first began:
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In fairness, this is not due to any failing from Binance.US specifically, but rather, is due to the regulatory hurdles it must contend with. That being said, Binance.US currently has 53 cryptocurrencies (including stablecoins) available for trading.
A comprehensive explanation of wavelet methodologies can be found for example in [10, 11, 21]; this section aims to provide an overview based on the presentation in these papers.
The process of collecting cryptocurrency as a reward for solving complex functions and recording data to a blockchain is referred to as cryptocurrency mining.
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It is also important to mention that Bitrise is one of the coins that Safemoon lost whales to some time ago. This is just one sign that Safemoon is in deep trouble.
Just like you shouldn’t let a price drop influence your decision to buy crypto, don’t let a sudden price increase alter your long-term investment strategy. Even more importantly, don’t start buying more crypto just because the price is rising. Always make sure your financial bases are covered — from your retirement accounts to emergency savings — before putting any extra cash into a speculative asset like Bitcoin.