BTC to BITO: the original cryptocurrency, and the promise and limitations of Bitcoin ETFs
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Once they have a key, they can obtain and spend cryptocurrency. Without the key, the holder can’t spend or convert their cryptocurrency — rendering their holdings worthless unless and until the key is recovered.
Profit-booking near the resistance line pulled the price back toward the critical level at $49.54 on Nov. 9. The strong rebound off this level on Nov. 10 suggests that bulls are defending this level with vigor.
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Exchange data from Bybt shows that roughly $46 million worth of long ETH positions were liquidated across the board due to the sudden pullback. Since the flash crash, ETH has also failed to hold above $4,000.
Explaining the digital assets designed to limit volatility but attracting regulators’ attention Previous page You are on page 1 Next page
Interestingly, the breakout was initiated right as a report from the United States Bureau of Labor Statistics (BLS) showed a sharp 6.2% annual rise in the Consumer Price Index (CPI), a figure that has hit its highest mark in 30 years.
July saw the Met seize a cryptocurrency operation valued at £180million in the UK’s largest cryptocurrency seizure to date.
Binance owns Binance.US’s name and intellectual property. However, Binance.US is managed independently. The main differences between the two relate to financial regulations in the United States. Binance.US cannot legally offer all the same crypto assets that the main Binance exchange can.
“We’ve seen a tremendous amount of inflow of attention, and that’s going to continue to drive the growth of the industry for a while now,” says Abner.
A break and close above the channel will indicate strength and the pair may rally to $300 and then to $321. Conversely, if bears sink the price below the channel and the $216 support, the decline could extend to the 50-day SMA ($179).
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Responding to regulatory pressure, Binance has curbed some services on cryptocurrency bets, highly leveraged positions and trading with tokens linked to shares, and has pledged to beef up its compliance staffing.
The price of Bitcoin was £48,199.49 after the latest drop in prices (11 November), according to Coinbase.
Now, to be fair to the bitcoin bros (not great) and XRP army (worse), even the World Health Organisation had around that time started pushing the idea that Covid could be being spread by banknotes (while simultaneously recommending that people should not wear masks), now thought to be “very unlikely”. Even if banknotes were a key transmission vector, however, we are not sure that “dirty fiat” itself could be held responsible, given that the vast majority of it only exists in digital form. Why would you use bitcoin, or XRP, or any other crypto token when you can transact digitally using fiat currencies?