LifestyleMoneyWhy is crypto down today? Cryptocurrency market crash, China ban - prices of Bitcoin, Shiba Inu and Ethereum
Even with its usual ups and downs, Bitcoin has mostly been on the rise following a drop under $30,000 in July.
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Now that Bitcoin has reached the channel’s lower trendline, an upswing toward its middle or upper trendline could be underway. These crucial areas of resistance sit at $66,000 and $70,000 respectively.
The electric carmaker said in May that it would no longer accept the cryptocurrency for purchases. It's been a wild ride for bitcoin the last three years.
Binance.US formed in 2019 after Binance stopped accepting U.S. investors. The interface and many features are the same, but there are differences such as the amount of cryptocurrencies available to trade in the U.S. vs. elsewhere, as well as which states Binance.US is allowed to operate in. United States users cannot buy crypto using the international Binance platform.
ArrowArtboardCreated with Sketch.ArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter Log out Your Account Log In Sign Up Cayman Islands-domiciled Binance is trying to beef up compliance as oversight of the cryptocurrency sector increases. © Reuters
Indians' investments in crypto grew from about $200 million to nearly $40 billion in the past year
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LUMMIS: So the concept of mining bitcoin and its great store of value was something that resonated with me, coming from a mining state.
But while it’s based on sound, democratic principles, cryptocurrency remains a technological and practical work in progress. For the foreseeable future, nation-states’ near-monopoly on currency production and monetary policy appears secure.
More broadly, the U.S. has been slow to issue regulatory guidance for cryptocurrency businesses. The industry has generally appreciated regulators' care and caution to avoid hampering innovation or overregulating something so misunderstood, but the lack of clarity has also become restrictive for many looking to operate, develop, and grow their products and services. But Zhao appears to be undaunted by that.
As with most cryptocurrencies, there have been mixed reviews so far with one reddit user saying: “I completely agree that once they get listed on an exchange this could easily blow up.”
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Our Safemoon price prediction for 2022 sees the coin reach a valuation of $0.0000060, which is around the same as it was in late May 2021.
Cryptocurrencies, or virtual currencies, are digital means of exchange created and used by private individuals or groups.
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