On Oct. 21, Binance.US suddenly printed a one-minute candle that took BTC/USD from $65,815 to $8,200 — a drop of 87%.
There are hundreds of cryptocurrency exchanges already, and dozens based in the U.S. Trade volume on Binance is currently $1.2 billion compared to $660 million on Coinbase Pro, $355 million on Kraken, $75 million on Gemini and $47 million on Poloniex, according to CoinMarketCap as of publication. About 20 percent of traffic to Binance.com comes from the U.S., according to research from The Block.
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The flag-wavers point to these and other concerns to warn that SafeMoon may not, in fact, be safe.
Keeping abreast of cryptocurrency news and watching the patterns of trading is key to gain an understanding of each coin. For more information on how to do this effectively, look at our Guide to Day Trading Bitcoin and Other Cryptocurrencies.
It’s true that the source codes and technical controls that support and secure cryptocurrencies are highly complex. However, laypeople are more than capable of understanding the basic concepts and becoming informed cryptocurrency users.
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Now I'll turn the call over to Christine Greany of Blueshirt Group to begin. With us today on the call are Kosta Kartsotis, chairman and CEO; Jeff Boyer, chief operating officer; Sunil Doshi, chief financial officer; and Greg McKelvey, EVP and chief commercial officer. Cryptocurrencies Price Prediction: Litecoin, SafeMoon & Cardano — Asian Wrap 27 Oct Cryptos | 10/27/2021 12:46:50 AM GMT Litecoin favors a 20% upswing while LTC bulls remain elusive
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Another institutional hit for bitcoin–which probably had the most sustained effect–was the SEC’s refusal to approve a bitcoin exchange-traded fund (ETF). This would be a path for more mainstream people in finance to dabble with blockchain; it would allow investors to dip their toes in bitcoin without owning the actual asset. Not only that, but it would make bitcoin available on the most prominent financial markets. The U.S. Securities and Exchange Commission (SEC), however, has yet to allow such a fund to exist–mostly because it is unable to monitor crypto-transactions in order to avoid market manipulation.
This strategy is set up to restrict the selling of the tokens and instead support its ownerships. The initiative will make the merchants think before they sell the tokens, and it gives added benefit to the current coin proprietors. This technique means to lessen the abrupt declines brought about by the sale of cryptos that result in varying prices and market fall.
Bitcoin set another new all-time high Wednesday afternoon over $68,000. And then it promptly dropped down to below $65,000, where it remains Thursday morning.
While Bitcoin tumbled, Ethereum was heavily rejected on Oct. 21 as it approached its mid-May all-time high at $4,380.
CFDs are leveraged products, which means you can open a position for a just a fraction of the full value of the trade. Although leveraged products can magnify your profits, they can also magnify losses if the market moves against you.
Even though the current downside move is sure to shock some investors, slight corrections after reaching new all-time highs are a customary practice for Bitcoin.
These protocols also mask the identities of cryptocurrency users, making transactions and fund flows difficult to attribute to specific individuals or groups.
Cryptocurrencies’ supply and value are controlled by the activities of their users and highly complex protocols built into their governing codes, not the conscious decisions of central banks or other regulatory authorities.