From finding a solution to producing renewable energy and solar energy through turbines in Gambia, to upgrading the platform to V2 for enhanced security, SafeMoon has pulled the right cards at the right time in a short period.
He was referring to the stringent regulation that forced most cryptocurrency exchanges to deploy separate trading platforms for U.S. customers only. Consequently, American crypto traders tend to operate on less liquid cryptocurrency exchanges.
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How the price of Ethereum will change in the future is impossible to know for certain.
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Among those who called it, hedge fund manager Mark Dow wrote almost exactly a year ago about his decision to short bitcoin after future trading on it first began:
Potential investors looking to buy the dip should understand that fluctuations are par for the course, and be prepared for this kind of volatility going forward. Even if you invest now, with prices relatively low, be prepared for them to fall even more. Again, only put in what you’re comfortable with losing — after you’ve covered other financial priorities, like emergency savings and more traditional retirement funds.
Investing is not a guaranteed way to make money, so make sure you know the risks and can afford to lose the money.
One investor who wasn’t deterred was Barstool Sports Inc. founder Dave Portnoy. In May, he announced to his 2.6 million followers on Twitter that he’d bought $40,000 worth, despite saying that SafeMoon could be a Ponzi scheme, a scam in which early investors’ returns are paid with funds coming from later buyers that collapses when new deposits dry up or too many people try to cash out.
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”:
SafeMoon price has made some astounding progress in October, rallying over 145% from the lowest open in its history on the first day of October to its present new two-month high. After hitting the required $0.0000024 level above the Cloud, SafeMoon spiked on Monday for a gain of over 22%. And it is likely to continue a move higher before facing any resistance.
“You can’t ever determine how long or how far up a speculative investment can go, and you tend to be very shocked at how much it falls,” she said.
SafeMoon is still a relatively new cryptocurrency compared to others, having only launched in March 2021.