Cryptocurrency is a good investment if you want to gain direct exposure to the demand for digital currency, while a safer but potentially less lucrative alternative is to buy the stocks of companies with exposure to cryptocurrencies.
You might recall that back in the very early days of Covid-19 (or just “coronavirus” as it was then known), some crypto nutters enthusiasts started getting excited about the idea that the virus would be good for bitcoin because “paper money” “might be the source of #CORONAVIRUS #SARS2 infection”. After all, “fiat is dirty”:
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Despite those benefits, Binance.US is much less transparent than many competitor exchanges when it comes to security, storage options, and customer assistance. For most long-term, retirement-minded investors, we’d recommend sticking with exchanges such as Coinbase or Gemini, which are much more transparent about these key operations.
Buying interest in options tracking cryptocurrency ‘exploded’ after launch of bitcoin exchange traded fund
Bitcoin’s surge to $69,000 took bears by surprise and cemented bulls expected $400 million profit at Friday’s $1.2 billion options expiry.
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Ricardo Salinas Pliego, a magnate with large operations in retail, banking and television who has been seen as President Andrés Manuel López Obrador’s closest business ally, wrote in his social media accounts Sunday that Bitcoin is a good investment.
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.
Investing is not a guaranteed way to make money, so make sure you know the risks and can afford to lose the money.
Meanwhile, Ethereum also hit a record — rising to $4,837.59, according to CoinMarketCap.
If buyers sustain the price above $67,000, the BTC/USDT pair could pick up momentum and accelerate to the next target objective at $75,000. A break and close above this resistance may open the doors for a possible rally to $89,476.12.
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Binance and Coinbase listings remain a coveted goal for new cryptocurrencies such as SafeMoon. However, it can take some time to achieve this. For example, Coinbase only listed Shiba Inu Coin in mid-June.
Shiba Inu coin is trading up at approximately $0.00005580 (£0.00004113) as of 2.45pm today after smashing through multiple record highs in late October.
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SafeMoon may have some investors concerned that it will not return to its prior glory. Despite a very promising starting performance, SafeMoon has settled far below the hopes of the investors that held onto the token.
Crypto Mode is an independent news source founded in April 2018. We strive to bring you the latest Crypto news. Our goal is to produce interesting and valuable content to our readers and educate you about cryptocurrency.