The market has been quite bullish on Bitcoin. Despite more than 13,000 cryptocurrencies listed on CoinMarketCap, Bitcoin remains the dominant digital currency.
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Watching the trading patterns is key. Observe the market for a few weeks to get a feel of how the coin reacts to certain times of the day and week, and how it responds to market news and key events. This will help you work out patterns of trading, and how to limit losses and maximize gains.
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.
In the last 24 hours, Bitcoin has gained around 3 percent and is trading above $67,000. The crypto has added over 10 percent in the past week.
This week, Binance announced it is pairing up with BAM Trading Services — which Coindesk notes is FinCEN-registered and has links to Koi Compliance, which counts Binance as an investor — to launch a U.S. exchange “soon.” That will mean, however a level of disruption for some U.S. customers in the meantime.
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Bitcoin (BTC) crashed to just $8,100 on Oct. 21 — but only if you were trading on Binance’s dedicated United States exchange, Binance.US.
Bitcoin (BTC) plummeted 2.18% to $66k at the time of writing. Bitcoin’s dominance is currently 43.35%, a decrease of 0.34% over the day.
US cryptocurrency exchange Coinbase Global Inc on Tuesday reported a nearly 30% fall in third-quarter trading volumes on a sequential basis, hit by lower volatility and declining prices of Bitcoin and other cryptocurrencies.
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This positive view will invalidate if the price turns down from the current level or the overhead resistance and plummets below the support line of the wedge.
Before this latest surge for the top two cryptos, recent sudden drops followed a ban on cryptocurrency transactions and mining from China’s central bank, which declared all cryptocurrencies illegal in the country. After previously topping $52,000 in early September, Bitcoin’s price had dropped and struggled to get back over $50,000 until this month.
As this platform does business as a separate entity from Binance, the users’ digital assets will be stored in Binance.US wallets only.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. Cryptos feed Dogecoin price provides perfect buy opportunity for a 50% breakout
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Each addition is known as a block. Blocks consist of all transactions executed since the last new copy of the blockchain was created.