Bhambhwani, S., S. Delikouras, and G. M. Korniotis (2019). “Do fundamentals drive cryptocurrency prices?”, Working paper .
Although exact active currency numbers fluctuate and individual currencies’ values are highly volatile, the overall market value of all active cryptocurrencies is generally trending upward. At any given time, hundreds of cryptocurrencies trade actively.
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Safemoon members are now joining competing crypto coins, like Bitrise, in thousands, and this could continue if Safemoon team does not address the fundamental issues. However, Safemoon remains as one of the strong crypto coins, but the dominance might be short-lived.
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Bitcoin wasn’t the only cryptocurrency to feel the effects of Tesla’s decision. (Pic: Shutterstock)
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Most price prediction websites unfortunately do not have price predictions for the DogeZilla – given how new and the fractional number of tokens it trades.
The worldwide crypto market capitalization is currently $2.90 trillion, decreasing 1.25% over the last day. (Shutterstock)
Despite the new record high, Bitcoin is still a highly volatile and speculative investment. In fact, the last time the crypto saw a record high in mid-April, it abruptly lost over half of its value and plunged to around $30,000 by mid-July.
In June, the Chinese Government cracked down on considerable crypto mining operations taking place in the Sichuan province and demanded that Chinese banks and payment channels stop supporting decentralised and anonymous crypto transactions.
Metals fund manager laments ‘zero interest in our strategy’ while bitcoin hits new record
Brian Brooks, incoming CEO of crypto exchange Binance.US, tells CNN's Julia Chatterley that "at a certain point, finance will have migrated out of the analog age and into the digital age." He weighs in on Dogecoin, Coinbase, and regulation.
Some teams have no issue with leveraging the power of social media by paying influencers to promote their coins. With a few heavy hitters on your side, you can spread rumours nearly instantly. If people are talking about your project, you win.