The Safemoon price today is hovering around the $0.0000014 level, so you can immediately see how cheap this coin is relative to others. Price is slowly turning bearish, with the last real spike occurring in late August. As such, it’s hard to make any accurate predictions about the token’s future price in this Safemoon forecast that are rooted in technical analysis.
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If there is one thing we all know about cryptocurrencies, it is that they are volatile. The stories about people making millions during a crypto upswing make the headlines frequently – but so do the stories of people who lose everything during the downswings.
On Oct. 21, Binance.US suddenly printed a one-minute candle that took BTC/USD from $65,815 to $8,200 — a drop of 87%.
More popular cryptocurrencies, such as Bitcoin and Ripple, trade on special secondary exchanges similar to forex exchanges for fiat currencies. (The now-defunct Mt. Gox is one example of an exchange.)
The scope of the Binance.US error, however, was in a league of its own and did not go unnoticed by market participants.
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“You can’t ever determine how long or how far up a speculative investment can go, and you tend to be very shocked at how much it falls,” she said.
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"Brian's work for Binance.US has been invaluable and we hope he will continue to be an integral part of the crypto industry’s growth, advocating for regulations that move our industry forward," Zhao Tweeted on Friday.
But while it’s based on sound, democratic principles, cryptocurrency remains a technological and practical work in progress. For the foreseeable future, nation-states’ near-monopoly on currency production and monetary policy appears secure.
This is mainly because of the extreme volatility that takes place in the industry. If you’re not careful – you could lose a lot of money quickly.
If you outright buy Bitcoin with USD, you will pay a 0.5% fee on Binance.US. If you want to spend $100 to buy Bitcoin using this option, you’d end up trading about $99.50 after fees.
@thebearablebull it’s time to switch to a digital currency. Fiat is dirty and is cause for the spread of the corona virus. Could this be the catalyst that advances utility of XRP???
To avoid legal action, the creators dropped “West” from the name, changed the logo to a “half man, half fish hybrid” that resembles West — a biting reference to a “South Park” episode that pokes fun at West’s massive ego — and released Coinye as planned.