In a recent report from Kraken exchange, analysts said that the current quarter’s price action has a correlation of 0.88 with the fourth quarter of 2017.
Dogecoin, which was initially set up as a joke in 2012 before seeing its shares skyrocket, has also dropped while Solana has seen its market price rise by more than 8%.
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Musk’s influence cannot be underestimated as, even though the likes of PayPal, Mastercard and Facebook have backed cryptos, the Tesla announcement still rocked the market.
Safemoon members are now joining in the thousands with competing cryptocurrencies, like Bitrise, and this could continue if the Safemoon team does not address the fundamental issues. However, Safemoon remains one of the most powerful crypto coins out there, but dominance may be short-lived.
The majority of the crypto currency market saw prices crash once more on the morning of 22 June following China’s clampdown on digital currencies.
Campbell, J. Y. and R. J. Shiller (1988), “Stock prices, earnings, and expected dividends”, The Journal of Finance 43 (3), 661–676
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Pa´stor, L. and P. Veronesi (2006), “Was there a NASDAQ bubble in the late 1990s?”, Journal of Financial Economics 81 (1), 61–100.
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.
Musk’s decision signifies a sharp u-turn for Tesla who only started accepting Bitcoin as payment for its services in February 2021.
And, while it has big ambitions, its current market value is someway below the $1 dollar threshold - but has experienced a steady increase in price since its launch.
Cardano reveals the extent of progress on its plans to digitally connect Zanzibar Samuel Wan · 2 days ago · 2 min read
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One of the key principles of smart investing is: Never invest in anything you don't understand.
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