The bears tried to pull Bitcoin below the breakout level at $67,000 on Nov. 9 but they could not sustain the lower levels. The modest pullback indicates that bulls are buying on every minor dip.
The above prices are as of 01.09 pm IST on November 9 (Data courtesy: coinmarketcap.com).
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Nevertheless, a decisive four-hour candlestick close below the $3,922 level could lead to a steeper correction. Ethereum could then dive to look for support around the 100 four-hour moving average at $3,700 or even test the 200 four-hour moving average at $3,400.
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Explaining the digital assets designed to limit volatility but attracting regulators’ attention Previous page You are on page 1 Next page
BitTorrent lost its relevance ever since the decentralised media network, Tron, made sharing files easier and faster, and the TRON Foundation purchased BitTorrent. Later, BitTorrent purchased DLive, a blockchain content-sharing platform where creators can monetise content without having to share with the network.
But before you look further make sure you’re aware of the risks when it comes to cryptocurrencies in general.
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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Launched in 2015, Ethereum (ETH) is the second most popular cryptocurrency and, on most days, the second most valuable after Bitcoin.
The token is listed on over 12 crypto exchanges and posted a 3% drop in price over the past 24 hours.
We’ve attempted to list the most relevant factors involved in crypto price fluctuations, but in this fast-paced industry, it’s likely more will arise as the market develops. If you think we’ve missed any, feel free to let us know.
“Bitcoin appears to be pushing out of a bullish flag pattern, and Ether is likely to confirm a long-term breakout on a close above resistance this Friday,” said Katie Stockton, founder and managing partner of Fairlead Strategies, in a note.
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.
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It came after the electric car company bought $1.5b (£1.06b) of Bitcoin shares, which in turn sent the market price of both the crypto and Tesla soaring.