Launch of crypto-linked investment fund lends ‘professional’ edge to swashbuckling asset class
Bitcoin wasn’t the only cryptocurrency to feel the effects of Tesla’s decision. (Pic: Shutterstock)
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The surge in Bitcoin’s value in recent weeks follows the much anticipated first Bitcoin ETF debuting on the New York Stock Exchange, and a record-breaking October for the stock market in general.
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 cryptocurrency market is a vast and sometimes confusing place with different coins to choose from.
Binance U.S.’ trading algorithm suffered from a bug that resulted in a Bitcoin flash crash on Oct. 21. Although prices recovered quickly, both cryptocurrencies are now trying to hold support to avoid further losses.
SafeMoon exists on the blockchain and doesn’t use any monetary foundations or trades as mediators. According to the whitepaper published, it expects to elevate distributed trade and has an absolute stock of 1 quadrillion tokens. Their launch supply was 777 trillion tokens, and 223 trillion is the measure of Burned Dev Tokens. SafeMoon is navigated by CEO John Karoly, who had been appointed as an All-Source Analyst under the U.S. Department of Defense. The CTO of SafeMoon is Thomas Smith, who recently filled in as the CIO of Goldsmith Blockchain Consulting. Jack Haines-Davies is the COO of this currency who previously served in LikeAndShare LTD, and Ben Philips is hired as a Manager, as indicated by the LinkedIn profile.
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The SafeMoon community also has their sights set on a “cool exchange listing” that according to SafeMoon CEO John Karony cited by the SafeMoonWarrior Twitter account will be coming soon. In addition, SafeMoon investors are anticipating a couple of key events, including an expanded crypto wallet and the launch of a crypto exchange.
The SADF test finds the largest ADF statistic from all the windows considered. If this value exceeds a critical value, the null hypothesis can be rejected, and it is deemed the series displays explosive behaviour in at least one of the windows (taken as indication of a bubble occurring).
There is a lot of volatility in the cryptocurrency space due to the industry’s newness. Investors are seeking to experiment with their money to generate riches quickly and figure out how cryptocurrency prices vary and whether they can affect them.
With a year-long spike in the community, Safemoon could trade up to $0.0000089 at the end of next year and peak near an impressive price point for 2022.
Meanwhile, Cardano (ADA) prices are fluctuating around $2.37 (£1.75) in a 16% increase on the last 24 hours, XRP Ripple was up 2.39% at $1.27 (£0.937129) and Solana at $244.80 (£180.39) as of 2.50pm on Tuesday.
Baker, M. and J. Wurgler (2006), “Investor sentiment and the cross-section of stock returns”, The Journal of Finance 61 (4), 1645–1680.
Bitcoin hit an all-time high of $68,530.34 early Tuesday, according to CoinMarketCap. That's just a few weeks after it hit a previous high of nearly $67,000 before sliding as much as 12%.
"We are LIVE and BOOMING!," said the community behind the newly launched Lorde Edge coin.
SAN SALVADOR, El Salvador (AP) — El Salvador’s bitcoin-pushing president apparently changed his Twitter profile description to “dictator” Monday, in what might be an ironic comment on last week’s protests against him.