Since then “the group has had a decidedly low profile. It has an active online fundraising page, but its website is offline. A Facebook page is ‘liked’ by only nine people. Its Twitter account has zero followers and only one tweet from April, soliciting input for a survey on veterans’ concerns. A search of media databases shows no instance of the group being mentioned in news stories.”
Although Coinye’s peer-to-peer network remains active and it’s still technically possible to mine the currency, person-to-person transfers and mining activity have collapsed to the point that Coinye is basically worthless.
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Bitcoin made a new life high at $66,998 on 20th Oct and since then it entered into a retracement phase and subsequently prices dipped below $59,000 in the following days.
This positive view will invalidate if the price turns down from the current level or the overhead resistance and plummets below the support line of the wedge.
ETF approval has been in consideration by the SEC multiple times over the past few years, but BITO is the first to gain approval.
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Nevertheless, a decisive four-hour candlestick close below the $3,922 level could lead to a steeper correction. Ethereum could then dive to look for support around the 100 four-hour moving average at $3,700 or even test the 200 four-hour moving average at $3,400.
Steep rises and unexpected dives in the price of cryptocurrencies are relatively common. As the market stabilises, the volatility has slowly decreased, but irrationality will always be part of the trading game.
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It is also important to mention that Bitrise is one of the coins that Safemoon lost whales to some time ago. This is just one sign that Safemoon is in deep trouble.
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Since crypto is a relatively new industry compared with others, legal clarity does not yet exist in terms of requirements for all areas of the space. Part of such clarity includes asset classification. Bitcoin and Ether are viewed as commodities, although categorization for numerous other assets remains unclear.
As acting Comptroller of the Currency, he presided over the leading regulator for national banks in the U.S. In that role, he pushed out a number of new authorizations for the integration of cryptocurrency in the banking system, including several fintech charters for banking firms.
ELIZABETH WARREN: Right now, our regulators and frankly our Congress is an hour late and a dollar short, and we need to catch up with where these cryptocurrencies are going.
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Regulatory announcements can also affect the price of cryptocurrency in already volatile markets. Market volatility is why investing experts recommend keeping any cryptocurrency investments to less than 5% of your total portfolio and never invest anything you’re not OK with losing.