Can Bitcoin and altcoins sustain their bullish momentum or will profit-booking drag prices lower? Let’s study the charts of the top 10 cryptocurrencies to find out.
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Cryptocurrency prices continued to tumble Friday with Bitcoin leading the charge, with prices for the internet currency dipping below $50,000 for the first time since early March.
As of 9:54 a.m. in New York, the overall market cap of cryptocurrencies hit $3.3 trillion, according to CoinGecko pricing. The third- and fourth-biggest tokens, Binance Coin and Solana, have added more than 20% in the past seven days; all of the seven biggest coins are up over the last week.
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Dogecoin is thus notable as an experiment in “inflationary cryptocurrency,” and experts are watching it closely to see how its long-term value trajectory differs from that of other cryptocurrencies.
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DeFi and NFT expert Rio Rocket told The Sun that he is hearing "rumblings" from investors noting that they are "unable to take large-scale profits."
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FTM has outdone the market in terms of price actions ever since Fantom Foundation announced a 370 million FTM incentive program for developers in August. FTM is currently trading close to $2.6 - up more than 17x from a low of $0.15 in August.
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Fast fact, altcoins games and metaverse tokens are showing user-driven, huge popularity, and their continued presence in the crypto industry these days. In fact, their presence has been well-felt since the beginning of this year.
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The token is set to pick up the pace with other tokens on the exchange to clearly arrive at a price of $0.0000218. A jaw-dropping optimism is also predicted for SafeMoon mainly due to its consistent performance over the years.
For many people, crypto is a type of alternative investment. Just as you can buy and trade stock in public companies, you can buy cryptocurrency with the hope that it will increase in value over time, allowing you to cash out for a profit at a later date. Some people invest in crypto less for the belief that it will become a popular currency and more as a bet on the blockchain technology behind it.
However, exchange pricing can still be extremely volatile. For example, Bitcoin’s U.S. dollar exchange rate fell by more than 50% in the wake of Mt. Gox’s collapse, then increased roughly tenfold during 2017 as cryptocurrency demand exploded.
The start of the Bitrise exchange development has also excited investors and increased new members. The centralized exchange is said to be a game-changer, considering the functionalities that the Bitrise wallet comes with.