Traders have flocked to the new currency and it has seen a 910 per cent increase in price since April 16 to April 20.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. Cryptos feed Dogecoin price provides perfect buy opportunity for a 50% breakout
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Mr Karkhalev added: "The growth in the capitalisation of the Bitcoin crypto market has also aided confidence.
According to an article in yesterday’s New York Times (NYT), Brian Brooks departed the CEO position at Binance.US when a $100 million venture capital funding fell through. He’d been in the position for just over three months.
But, why do individuals mine cryptocurrency? The most obvious answer is that some people seek a second source of income and others want more financial freedom without the interference of governments or banks. For instance, crypto miners verify the legitimacy of transactions in exchange for Bitcoin as a reward for their efforts.
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“This is a legitimate technology–it’s going to expand,” he says, “My longer-term view is nowhere near where some of [my current] views are.” It could even perhaps hit $10,000 again, he says. But that will probably take a few years. For now, we wait and see.
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But whether that growth is sustainable, and what it means long-term, is still in question. “This crypto, blockchain technology, the public interest in it right now is being driven by a kind of speculative fever,” says Dr. Richard Smith, executive director of the Foundation for the Study of Cycles, a nonprofit organization dedicated to studying recurring patterns throughout economies and cultures.
Strictly Come DancingThe BBC Strictly contestant has left the Walford soap to focus on her dancing with Giovanni Pernice.
UK crypto asset businesses must register with the Financial Conduct Authority - and you can check to see if they are on the Financial Services Register or if they are on a list of firms with temporary registration.
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