In the last 24 hours, Bitcoin peaked at a new record high price of $68,568.85 according to Coinbase.
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Despite this incident, crypto industry experts keep speculating about where Bitcoin's price is headed next with some suggesting it will soon hit $80,000. This past Friday, Bloomberg reported Bitcoin was headed for $80,000 to $85,000, while a crypto data expert said resistance at $60,000 would have provided the last buying opportunity before the coin would head for new all-time highs.
“It was almost like you just gave a 21-year-old a million dollars,” Harrison said. “I get it -- they were excited to be so popular.”
We reached out to Binance and Binance.US in an attempt to confirm details about reported regulatory investigations, as well as to better understand the relationship between the international and U.S-based platforms. We didn’t hear back from officials at Binance or Binance.US, though a spokesperson contacted us on behalf of Binance.US after our review published to provide additional context on the relationship between Binance and Binance.US. They operate as separate companies, the spokesperson said in an email, with Binance.US licensing software, trademarks, and wallet technology from Binance.
It is also important to mention that Bitrise is one of the coins that Safemoon lost whales to a while back. This is just one of the signs that Safemoon is in deep trouble.
The cryptocurrency market is a vast and sometimes confusing place with different coins to choose from.
SafeMoon is one of the most popular new cryptocurrencies of 2021, but can you buy the currency on the Coinbase or Binance exchanges?
One investor who wasn’t deterred was Barstool Sports Inc. founder Dave Portnoy. In May, he announced to his 2.6 million followers on Twitter that he’d bought $40,000 worth, despite saying that SafeMoon could be a Ponzi scheme, a scam in which early investors’ returns are paid with funds coming from later buyers that collapses when new deposits dry up or too many people try to cash out.
The algorithm allowed for secure, unalterable information exchanges between parties, laying the groundwork for future electronic currency transfers.
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.
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.
Mr Musk has served as a key for driving up the prices for other major meme coins this year, including Dogecoin and Shiba Inu.
This may sound like an over-inflated number to many, however, Shiba Inu recently showed that this is within the possibility of the cryptocurrency market. With reasonable timings assumed, $1000 in Shiba Inu would have generated investors over three million dollars.
One of the key principles of smart investing is: Never invest in anything you don't understand.