According to CNBC International’s forecast, SafeMoon crypto fans say it’s trading down to the unprecedented wave of stimulus from governments and central banks around the world to tackle the coronavirus crisis would only make investing in SafeMoon trade rise. Such measures, they say, devalue fiat currencies, making SafeMoon a profitable investment in the cryptocurrency market.
Bitcoin was trading 1.5% lower Thursday morning. The price was around $59,000 per coin.
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Why is crypto down today? Cryptocurrency market crash, China ban - prices of Bitcoin, Shiba Inu and Ethereum
Online factors exhibit stronger relationships in the long term, and such relationships were found to be consistently positive. The long term positive relationships suggest long term price trends are linked with online activity. This is an intuitive result, given that successful cryptocurrencies are likely to have active communities; as the community grows, so does belief in the cryptocurrency, and vice versa.
With all of these shortcomings facing most of the competition, Safemoon is definitely in trouble. The Safemoon team has to do a lot to make the play competitive. Otherwise, not many people will be interested in this Safemoon. This means low demand, and this is how the value of Safemoon’s coin will plummet.
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Now, to be fair to the bitcoin bros (not great) and XRP army (worse), even the World Health Organisation had around that time started pushing the idea that Covid could be being spread by banknotes (while simultaneously recommending that people should not wear masks), now thought to be “very unlikely”. Even if banknotes were a key transmission vector, however, we are not sure that “dirty fiat” itself could be held responsible, given that the vast majority of it only exists in digital form. Why would you use bitcoin, or XRP, or any other crypto token when you can transact digitally using fiat currencies?
According to reports on Tuesday 26 October, US regulators are looking for new ways and strategies for banks to hold crypto assets and address their current rise.
SafeMoon stands from "Safely to the Moon", a phrase that was adopted by Redditors about DogeCoin which refers to the price flying upwards "as high as the Moon".
Although Binance.US is growing fast and is now considered to be one of the top exchanges in the United States, it doesn’t measure up to its parent company, Binance.
GURA: Davidson also fears too much regulation could harm investors and entrepreneurs, but he thinks inaction is also a risk. Davidson says when he goes back to his district in Ohio, his constituents ask him when Congress is going to get around to setting ground rules.
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While it shares characteristics of both currency and investments, there’s still debate among experts about whether cryptocurrency is clearly one or the other.
It may be a 2019 product, but it's still a premium streamer at an unbeatable price.
Fig 4. Wavelet coherence scalograms between online factors and price (with GSADF test bubble overlay) for Ethereum and Monero.