Musk has been a long-time advocate of cryptocurrencies and the Tesla decision was felt across the market, with other digital tokens going down in price.
You can't ever determine how long or how far up a speculative investment can go, and you tend to be very shocked at how much it falls
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Meanwhile, concerns were also mounting on Oct. 21 that leveraged traders have taken on more risk than they can chew.
An NFT marketplace is used to list NFTs and ensure they are accessible for trading.
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The difference between a digital currency and a cryptocurrency is that the latter is decentralised, meaning it is not issued or backed by a central authority such as a central bank or government. Instead, cryptocurrencies run across a network of computers. Digital currencies have all the characteristics of traditional currencies but exist only in the digital world. They are issued by a central authority.
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The Fibonacci retracement indicator, measured from the Oct. 17 swing low at $3,640 to the Oct. 21 swing high at $4,375, suggests that Ethereum is sitting on stable support. The combination of the 50% Fibonacci retracement level with the 50 four-hour moving average at $3,922 is the most significant interest area underneath ETH.
Should the Metaverse ever come into existence, blockchain technology and decentralization must be at the core of this innovation. University of Cambridge to launch decentralized carbon credit marketplace on the Tezos blockchain
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.
Marketplaces allow users to promote their NFTs, where buyers can browse through and bid on what they would like to purchase.
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.
Perhaps a bit odd, then, to decide to chart crypto prices against US Covid cases rather than global cases, given crypto is traded globally.
Unlike traditional payment processors, such as PayPal and credit cards, most cryptocurrencies have no built-in refund or chargeback functions, although some newer cryptocurrencies have rudimentary refund features.