Disclosure: At the time of writing, the author of this feature owned BTC and ETH.
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But how high will Bitcoin go? Bitcoin’s past may provide some clues, according to Kiana Danial, author of “Cryptocurrency Investing for Dummies.”
WASHINGTON (AP) — The Biden administration is calling on Congress to pass legislation that would strengthen government regulation of stablecoins, a form of cryptocurrency that has soared in popularity in the past year.
Even if this were the case, and Safemoon coin was to increase in price dramatically before an instant fall, it would still represent a good investment for purely speculative investors. For example, if Safemoon were to simply return to the all-time high experienced on April 20th, then that would represent an incredible 921% return from today’s price!
The original cryptocurrency, Bitcoin, is a capped cryptocurrency. This means after 21 million Bitcoins are mined, no more will be mined.
The network’s miners then check the hash to see if the unconfirmed block is valid. This is a time for celebration among crypto miners because the proof of work has finally been completed. From the user's perspective, this essentially implies that the sender's cryptocurrency transfer to the receiver has been confirmed and will be added to the blockchain as part of the block.
The electric carmaker said in May that it would no longer accept the cryptocurrency for purchases. It's been a wild ride for bitcoin the last three years.
Additionally, crypto regulation outside the U.S. has changed over time, based on evolving regulatory guidelines. The fifth Anti-Money Laundering Directive from the European Union, for example, entails that crypto buying, selling and other operations must comply with certain guidelines in certain regions.
Latest Crypto News: Bitcoin and Ethereum Hit New All-Time Highs, Biden Administration Releases Report on Stablecoins
GURA: A HODLer is crypto-speak for someone who bought cryptocurrency and who's held on to it, despite its extreme volatility. Lummis paid $330 for her first bitcoin back in 2013, and today it's worth around $60,000. She's bought more of it since, which means Lummis stands to gain or lose from the policy she's helping to shape. Lummis wants Wyoming to become one of the world's crypto capitals.
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When that time of reckoning arrives, only the early investors would have enormous profits. If you want to be one among the lucky ones, now is the chance to get on board and hold on for the important day. Every coin has its day and SafeMoon is yet to bask in the limelight. Its day to shine in the sun would arrive soon and early investors would hold on to fistful of dollars.
Investing is not a guaranteed way to make money, so make sure you know the risks and can afford to lose the money.