Nevertheless, a decisive four-hour candlestick close below the $3,922 level could lead to a steeper correction. Ethereum could then dive to look for support around the 100 four-hour moving average at $3,700 or even test the 200 four-hour moving average at $3,400.
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“Expect very high volatility in crypto over the next few months,” he tweeted on Oct. 21.
In fairness, this is not due to any failing from Binance.US specifically, but rather, is due to the regulatory hurdles it must contend with. That being said, Binance.US currently has 53 cryptocurrencies (including stablecoins) available for trading.
An obstacle to large-scale bitcoin mining is finding enough cheap energy to run the huge, power-gobbling computer arrays that create and transact cryptocurrency. One mining operation in central New York came up with a novel solution that has alarmed environmentalists.
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But whatever new products are produced, they will now have a harder time struggling with acceptance. Whether we like it or not, message and image are important.
Of late, crypto prices have risen on the back of comments from billionaire Elon Musk and Ark Investment Management LLC's Cathie Wood.
Some experts predict bigger, global corporations could jumpstart this adoption even more in the latter half of this year. “What we’re looking at is institutions getting involved in crypto, whether it’s Amazon or the big banks,” says Weiss. A huge retailer like Amazon could “create a chain reaction of others accepting it,” and would “add a lot of credibility.”
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Binance Smart Chains to introduce gas burning mechanism like Ethereum for increasing value of tokens
Plenty of altcoins have also taken a beating. Dogecoin erased the breakneck gains of the week and then some, nearly halving its price after a meteoric climb last weekend. XRP is down 35% week-over-week, Stellar is down 30% and Polkadot is down 25% since last week.
Harrison, who still owns SafeMoon, said that the developers have become more professional since the AMA incident: “They’re a bit more scripted, they sit down, they’re in suits.”
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The hype surrounding popular memecoin Dogecoin had appeared to diminish recently as new altcoins took centre stage.
4JNET once again takes an interesting path with this. The performance of the presale will not affect the scheduled December 1st launch. 4JNET will proceed with the token launch regardless of whether the presale goal is met.
A cryptocurrency analyst at the YouTube channel “Broke Man Finance” has analyzed the SafeMoon price trend and predicted that the token would likely hit a new all-time high soon.