Corbet, S., B. Lucey, and L. Yarovaya (2018), “Datestamping the Bitcoin and Ethereum bubbles”, Finance Research Letters 26, 81–88.
Under the new law, El Salvador will “promote necessary training and mechanisms so that the population can access [Bitcoin] transactions.”
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Facebook’s closely guarded Libra project could be the first true cryptocurrency alternative to fiat currencies, although its growing pains suggest that true parity remains well in the future.
It follows recent crashes brought on by Tesla making a u-turn on accepting Bitcoin as payment for its products and China clamping down on initial coin offerings, block exchanges and warned against speculative trading.
However, cryptocurrency experts had warned of several tell-tale signs that it was likely to be a scam.
Posts per day and new authors can be retrieved from each subreddit programmatically; each post is timestamped, so historical time series can be generated by iterating through the posts. Posts per day are used here rather than comments per day. Each post on Reddit can have a number of associated comments in a one-to-many type relationship. However, examples exist where huge numbers of comments are generated that are unrelated to market activity; for example, sometimes people give away small amounts of cryptocurrency to everyone who comments with their public blockchain wallet address; this causes a huge spike in comments (wavelet coherence between comments per day and price were also generated, but as was expected showed less significant relationships than posts per day and price).
Whilst demonstrating a respectable return, especially for a meme token, SafeMoon has the potential to spike again in the future. With expert, or lucky, timing you may be able to catch another huge market spike and benefit from the volatility of the cryptocurrency market.
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If you don’t currently have a wallet, you can download the MetaMask or Trust Wallet browser extensions to get started. These browser extensions give you password-protected access and control over all your tokens.
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If the price turns down from the resistance line of the channel, the pair could drop to the support line. This is an important level to keep an eye on because a break below it will suggest a possible change in the short-term trend.
We set the stage for our formal econometric analysis by providing some graphical evidence. For example, in Figure 1, we see a close mapping of the prices of Bitcoin and Ethereum with their respective computing power values. Moreover, in Figure 2, we observe an even stronger mapping of the prices of Bitcoin and Ethereum with their respective network values. Interestingly, these graphs also show that when prices significantly exceed the trend in computing power or network (as was the case in late 2017), prices eventually fall and trace the trend in fundamentals. The convergence of prices to the trend with fundamentals suggests that fundamentals are the ultimate, long-run determinants of prices.
One finding based on the CivicScience study showed that around 11% said they or someone they know have resigned from their jobs due to crypto trading.
Among the cryptocurrencies that could disrupt Safemoon is the Bitrise coin, which is the fastest growing crypto at the time of writing. The coin was launched at the end of July. Shiba Inu is another piece that has been doing very well since its launch in August. However, experts have pitted Safemoon against Bitrise, which is now billed as the next “Safemoon”.
"Some of the NFT collections had bounced by 50-60% in the past few days, which indicates a possible reversal in the coming weeks," he added.
Disclosure: At the time of writing, the author of this feature owned BTC and ETH.