Bitcoin plunged to as low as $8,200 on Binances U.S. exchange from around $65,000.
Ricardo Salinas Pliego, a magnate with large operations in retail, banking and television who has been seen as President Andrés Manuel López Obrador’s closest business ally, wrote in his social media accounts Sunday that Bitcoin is a good investment.
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The company has grown to become one of the biggest names in crypto by allowing anyone to use its service to trade myriad tokens, many of which are unavailable or limited on other exchanges. But over the past year, Binance has matured and begun to offer more formalized services. Following fiat currency exchange launches in the U.K., Uganda and Singapore, Binance is opening a dedicated U.S. exchange to avoid uncertainty around its legality.
The blockchain thus prevents double-spending, or the manipulation of cryptocurrency code to allow the same currency units to be duplicated and sent to multiple recipients.
Fig 5. Wavelet coherence scalograms between online factors and price (with GSADF test bubble overlay) for Litecoin and Bitcoin.
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Brian Brooks, chief executive of the US arm of global cryptocurrency exchange Binance, said on Friday he had resigned just three months after taking up the role.
The U.S. firm shares a name with Binance Holdings Ltd., the world’s biggest crypto exchange -- and Changpeng Zhao, the CEO of Binance Holdings, is chairman of the board at Binance.US. Binance Holdings faces a U.S. Justice Department investigation into whether its platform has facilitated money laundering and tax evasion. Numerous countries have also announced probes and demanded that Binance curtail or amend operations within their borders.
Even with its usual ups and downs, Bitcoin has mostly been on the rise following a drop under $30,000 in July.
Shortly after achieving these astronomical new heights, Bitcoin’s price fell back toward $62,700 before recovering slightly to around $64,500, while most altcoins endured near double-digit losses.
3% Strategic Buy-Back Reserve: 3% of every transaction is sent to the strategic buyback reserve. After converting to BNB, these tokens are locked and stored in the EverGrow contract. The contract is designed so that the BNB in the Strategic Reserves cannot be withdrawn and can only be used to purchase and burn EverGrow COIN. The contract for the project contains two distinct BuyBack provisions:
The pair could first drop to $4,146.30 but if this support also gives way, the correction could reach the psychological support at $4,000.
Very generously our tweeter credits another crypto fanatic for the remarkable analysis, who had drawn up his own chart just days earlier:
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In The NewsIn May 2021, the Government began banning the sale of coal and wet wood for use in home fires
DLA PIPER REGISTERS TO REPRESENT KING OF JORDAN: In the days before Jordan’s King Abdullah was alleged in a report from the International Consortium of Investigative Journalists to have funneled $100 million through offshore companies to buy more than a dozen luxury homes in the U.S. and U.K., the monarch, a close U.S. ally, was in the midst of hiring the law firm DLA Piper to provide “legal advice related to potential defamation and other legal remedies associated with inquiries” or reports involving the king, according to documents filed with the Justice Department last week.
Bitcoin’s price has taken a wild ride so far in 2021, and in November set another new all-time high price when it went over $68,000. This latest record high follows previous high points over $60,000 in April and October, as well as a summer drop to less than $30,000 in July. This volatility is a big part of why experts recommend keeping your crypto investments to less than 5% of your portfolio to begin with.