Cryptocurrency investor discusses bitcoin back in 2011, before it earned him a life of luxury
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Bitcoin’s current rally has been fueled by the U.S. trading debut of a Bitcoin-linked ETF as well as Elon Musk’s weekend Twitter poll, said Ben Caselin, head of research and strategy at crypto exchange AAX. “With Shiba and other memecoins having surged recently, and Facebook’s rebranding to Meta, interest in altcoins continues to rise.”
All the signs, however, were there. Like previous bubbles, people were basing their belief in the cryptocurrency on their emotions, not any intrinsic value. Then there was the FOMO element, which only compounded things. Essentially, bitcoin became an international fever. Random companies were “pivoting to blockchain” for no apparent reason other than that it seemed like a way to create buzz. But when the bubble bursts, FOMO turns into fear of losing, which makes for an especially rapid plunge.
ProShares Bitcoin Strategy ETF, which began trading late last month, was up 10.95% on Monday.
Results were generated a few mins ago. Pricing data is updated frequently. Currency in USD
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Karony likens SafeMoon’s holder payments to the beginnings of businesses like Amazon.com Inc., where “earlier investors receive higher returns and growth because the initial risk they took was higher than those who joined later.”
The Polkadot currency was created by some of the breakaway leaders at Ethereum to form a new cryptocurrency with a better network. So, rather than having a single lane for carrying out and completing transactions, Polkadot has several lanes.
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The teenager set up a fake gift voucher website and bought a haul of Bitcoins which soared in value.
BTC to BITO: the original cryptocurrency, and the promise and limitations of Bitcoin ETFs
As we don’t know exactly how to classify them, it’s difficult to attribute a direct causality to a specific factor and a crypto’s rise or dive in value.
The price of Loopring has risen over 400 per cent since the initial rumors began to spread.