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US futures linger at all-time highs while cryptos hit new records, as Fed rings alarm on market risks
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SafeMoon burst on to the cryptocurrency market place earlier this year – and now the digital coin is seeing further gains.
Dogecoin price slump continues after Doge co-founder slams cryptocurrencies as 'scam' and China clamps down on crypto mining
In conclusion, our Safemoon forecast has covered what this token is and how it functions. As you can imagine, Safemoon’s small size combined with the media attention it has received has meant that many retail investors believe it could reach dizzying heights. Although this could be true, the fact that Safemoon doesn’t have any real-world uses as of yet could be an issue; however, if this changes, we could see some significant moves in the months and years ahead.
Last year, a California man pleaded guilty to a mining fraud of at least $722 million through the BitClub Network. In February, a New York man pleaded guilty to running a Ponzi-like hedge crypto fund that stole about $90 million from more than 100 investors.
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In other words, if you're waiting for Safemoon to hit $1, you'll likely be waiting for a long time.
Within its first eight days of existence, DogeZilla has been said to have grown into a super microcap of $500million from just $50,000.
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But cryptoassets as commodities can be traded if they can exhibit clear benefits and can abide by the principles of Shariah, Bloomberg first reported.
All the signs, however, were there. Like previous bubbles, people were basing their belief in the cryptocurrency on their emotions, not any intrinsic value. Then there was the FOMO element, which only compounded things. Essentially, bitcoin became an international fever. Random companies were “pivoting to blockchain” for no apparent reason other than that it seemed like a way to create buzz. But when the bubble bursts, FOMO turns into fear of losing, which makes for an especially rapid plunge.
Some cryptocurrencies, like Bitcoin, have a finite number of coins that help to generate demand and reinforce their perceived worth. For example, the maximum supply of Bitcoin is capped at 21 million, as determined by the Bitcoin's creator(s).
Both ideas are about making a few people rich, not about building a decentralised paradise where everyone prospers
With its bullish structure now invalidated, those looking for long positions will need to eye support levels at $2.44 and $2.2. Should the crypto market remain bearish (with BTC having a probability of revisiting $60-62K), these levels are likely to come into play.