From the perspective of technical analysis, profit-taking near all-time highs and the need for a retest of lower support levels are normal processes for most cryptocurrencies. In fact, a quick glance over discussions by many analysts and traders on Twitter shows that most expected BTC to revisit lower support levels at $64,000 and below before recapturing bullish momentum and moving higher.
The first cryptocurrency was bitcoin. The bitcoin domain was registered in 2008, but the first transaction took place in 2009. It was developed by someone called ‘Satoshi Nakamoto’. However, there is speculation that Nakamoto is a pseudonym as the bitcoin creator is notoriously secretive, and no one knows whether ‘he’ is a person or a group.
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"Nevertheless, with central banks likely to begin raising rates and tapering its stimulus package, investors are looking for a store of value that is perhaps less susceptible to these changes.
The data affected by the leak includes email addresses for about 5 million users. The full names of 2 million users were also leaked.
US cryptocurrency exchange Coinbase Global Inc on Tuesday reported a nearly 30% fall in third-quarter trading volumes on a sequential basis, hit by lower volatility and declining prices of Bitcoin and other cryptocurrencies.
While its price had fallen slightly from a 24 hour high of $68,525 on Tuesday morning to $67,983.80 as of 2.10pm, Bitcoin’s price hike still represents a year-on-year increase of more than 300% on last November’s value.
Cryptocurrency is going mainstream — and becoming increasingly difficult for investors to ignore.
The world of cryptocurrencies can be a tricky field to navigate for the uninitiated.
Decentralized platforms that require a coin can be enabled via blockchains. The blockchain is the distributed ledger technology that allows a network to maintain consensus. The network can track transactions and transfer value and information due to distributed consensus.
Bitcoin (BTC) plummeted 2.18% to $66k at the time of writing. Bitcoin’s dominance is currently 43.35%, a decrease of 0.34% over the day.
Besides these broader differences, there are also some practical differences when comparing Binance vs Binance.US.
Additionally, cryptocurrencies are frequently used to facilitate gray and black market transactions, so many countries view them with distrust or outright animosity.
Crypto prices have been on a tear for the past several months, but the past week has been the clearest sign of a correction to climbing prices, though many see news of President Biden’s adjustment to the hikes on the capital gains tax as the most apparent reason for the market’s slide as investors cash out hoping their gains won’t be reached by a retroactive application of the rules.
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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.
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