OK perhaps that’s a little far-fetched. But what is behind crypto’s crazy climb over the past 18 months, we hear you ask? We don’t mean to suggest that the pandemic hasn’t been involved, because we think it has, but not in the way that this chart criminal implies — not, in other words, because it’s some kind of safe haven that traders flock to when they are worried about Covid cases rising; the data don’t bear that idea out.
And while the cryptocurrency has since dipped slightly on Tuesday afternoon, it is still up by a whopping 350% on Bitcoin’s price at 7 November 2020 after nearing the new $70,000 threshold.
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The bears tried to pull Bitcoin below the breakout level at $67,000 on Nov. 9 but they could not sustain the lower levels. The modest pullback indicates that bulls are buying on every minor dip.
It’s unclear if the company will reach out to everyone but it’s important to remain vigilant.
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The former US banking regulator and crypto enthusiast is resigning at a time when regulators in Hong Kong, Britain, Germany, Japan, Italy and Thailand have cracked down on Binance due to worries over investor protection. Watchdogs globally also fret that the boom in cryptocurrencies is aiding money laundering and increasing systemic risks.
Brooks admitted that “bitcoin miners appear to be causing environmental problems.” However, he said Bitfury has taken steps to reduce the industry’s climate impact. For example, Bitfury has designed technology that makes cooling computers and data centers more efficient and reduces the environmental footprint of activities.
If you are worried about possible scams – funny enough DogeZilla claims it aims to make the crypto space safer for users.
One of the most valuable assets a cryptocurrency can have is an active, engaged community which is fully on board with the team’s vision.
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Different types of cryptocurrencies can be classified into the following two groups:
Precious MetalsSilver MicroGold MGoldSilver MGold PetalGold GuineaSilverOthersMentha Oil
So what happened? And is there any hope for a recovery? To answer both, you have to look at quite a few factors.