The world of cryptocurrencies can be a tricky field to navigate for the uninitiated.
It comes after the cryptocurrency dipped by approximately after surging to $67,700 in late October as traders appeared to pull back in anticipation of another price pump.
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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.
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GURA: Their market cap worldwide is now close to $2.5 trillion, which is almost as large as the GDP of France. Even the big Wall Street banks now trade bitcoin. And Gary Gensler, the head of the Securities and Exchange Commission, shares Warren's concerns. Here's what he said in a recent speech.
Cryptocurrencies are an alternative to traditional money. Today, some outlets accept cryptocurrencies as a form of payment. However, they bear little resemblance to other asset classes because they are intangible and extremely volatile. They are mainly used by traders for speculating on rises and falls in value.
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“I think it’s really important to keep your eyes open,” Johnson says. “Don’t get the FOMO at a fever, because it’s very volatile. No one should invest anything that they can’t afford to lose, and that’s the same advice I give for any kind of an investment.”
One of the key principles of smart investing is: Never invest in anything you don't understand.
Bitcoin plunged to as low as $8,200 on Binances U.S. exchange from around $65,000.
Income tax: Profits and losses from cryptocurrency transactions must be shown in a non-incorporated business’s accounts and are taxable/allowable under conventional income tax laws.
The BOBA token is a governance token by OMG Foundation to support the BOBA network. It can be staked for rewards. The airdrop will happen possibly one week after the snapshot. The Boba network will confirm the participating networks later. This is a move to incentivize the use of the Boba network just so the customers know they are being adequately rewarded. This is in alignment with Boba’s network goal of becoming a community-driven, dece-bobantralized project. David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.
Safemoon protocol aims to create a self-regenerating automatic liquidity providing protocol that would pay out static rewards to holders and penalize sellers.
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His tweet Friday said: "Letting you all know I have resigned as CEO of @BinanceUS. Despite differences over strategic direction, I wish my former colleagues much success. Exciting new things to come!"