The long tail on Solana’s (SOL) Nov. 8 candlestick shows buying at the centerline of the ascending channel. However, the bulls could not build on this advantage as strong selling at higher levels pulled the price below the centerline on Nov. 9.
But it wasn’t just outside pessimism that led to the slump, but infighting as well. Blockchains are decentralized, and democratic systems require buy-in from participants in order to keep the engines running. When there’s a schism that can’t be decided by the majority, all hell breaks loose.
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“We are concerned about rapid increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel,” Musk said on Twitter...
Bitwise’s chief investment officer explained why the firm has decided to drop its Bitcoin futures ETF and focus on the spot Bitcoin ETF.
Early cryptocurrency proponents shared the goal of applying cutting-edge mathematical and computer science principles to solve what they perceived as practical and political shortcomings of “traditional” fiat currencies.
Crypto Chase referred to the implications of sudden erratic price movements on exchanges, these serving to liquidate traders who should have retained their positions.
Yet some crypto watchers have raised red flags over SafeMoon’s unusual structure. It charges a 10% fee to buy tokens and another 10% to sell -- almost unheard of in the digital currency world. Half of these fees are paid to owners as an incentive to keep holding and the other half goes into a liquidity pool controlled by the developers. SafeMoon calls itself a DeFi token, or one that uses decentralized finance to govern functions through software, but it has a chief executive officer and chief operating officer. Critics also worry about the discretionary nature of the “manual” coin burns used to adjust its circulation.
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It is also important to mention that Bitrise is one of the coins that Safemoon lost whales to some time ago. This is just one sign that Safemoon is in deep trouble.
This cryptocurrency is also available and is traded on Coinbase – one of the world’s largest crypto exchange platforms. This accessibility is another reason why it’s an appealing investment option.
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There is also a list of businesses not registered. If they are on this list then they may be operating illegally.
Just like you shouldn’t let a price drop influence your decision to buy crypto, don’t let a sudden price increase alter your long-term investment strategy. Even more importantly, don’t start buying more crypto just because the price is rising. Always make sure your financial bases are covered — from your retirement accounts to emergency savings — before putting any extra cash into a speculative asset like Bitcoin.
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(Bloomberg) -- To investors hunting for the next Dogecoin, the more than 19,000% price gain that cryptocurrency SafeMoon posted in its early weeks was like catnip. Though the price of the four-month-old token has dropped since then, more than 2.4 million investors have bought it, according to its developers.
Traders can choose strategies such as day trading, where positions are opened and closed within a day for quick profits, or go for a scalping strategy, taking small profits from a large number of trades. Other strategies include trend trading, swing trading, and position trading.