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.
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CryptocurrenciesAsia crypto sector stays confident despite China regulatory curbs
One of the key principles of smart investing is: Never invest in anything you don't understand.
BEIJING (AP) — China’s central bank on Friday declared all transactions involving Bitcoin and other virtual currencies illegal, stepping up a campaign to block use of unofficial digital money.
The SafeMoon price is not joining in the broader market rally today and is down about 4%. Over a longer term view, however, SafeMoon is doing just fine. Since October, the SafeMoon price has rallied over 160%. The recent declines could be investors taking some profits off the table in a broader market that is trading at all-time highs.
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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.
However, in the wake of the technical issues, the DeFi protocol has met its share of criticisms and FUD. Some Twitter users have even accused SafeMoon of scamming its users.
Bitcoin is the world’s most widely used cryptocurrency and is generally credited with bringing the movement into the mainstream.
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DAVIDSON: Maybe the best answer is slowly at first and then all of a sudden, which is the same way people go bankrupt, by the way.
“You can’t ever determine how long or how far up a speculative investment can go, and you tend to be very shocked at how much it falls,” she said.
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The liquidity pool of a crypto exchange is important because it determines what kind of crypto can be exchanged or traded and how much each trade will change the price. The liquidity pool is the total of all of the currency deposited on the exchange by every trader. If this pool is small, then every transaction can have a noticeable effect on the price of the crypto in the exchange. This instability makes it very difficult for a trader to predict how much of each currency they can get at any given time.