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.
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.
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“Bitcoin has outperformed gold, the most widely regarded inflation hedge, by a considerable margin year-to-date, having gained over 130% compared with gold’s 4% decline.”BTC/USDT daily chart: Source: TradingView
The growth of SafeMoon, coupled with its online slogan, has drawn comparisons to the surge in popularity of another cryptocurrency Dogecoin.
The decision by Tesla, and announced by Musk, was seen by some as a slight on the credibility of cryptos to become a viable method of payment against physical currencies.
Fig 4. Wavelet coherence scalograms between online factors and price (with GSADF test bubble overlay) for Ethereum and Monero.
Ethereum’s previous all time high of $4,379.11 was reached in May’s cryptocurrency boom, but the cryptocurrency is now trading at roughly $4,832 (£3,562.31) as of 2.43pm on Tuesday afternoon.
The program offers the following benefits and is limited to personal account owners on the platform:
The network charges a 12% fee on every token sale transaction. The 5% of this fee, which is the largest percentage, is sent to the buyback contract. The buyback contract will automatically buy back tokens and burn them immediately. That's why the demand and price of the Bitrise crypto coin have been rising steadily.
A look at funding rates across exchanges hints at excessive optimism, with traders going long on BTC en masse — a classic indicator of a correction.
Blockchain technology has unique security features that normal computer files do not have.
Should the Metaverse ever come into existence, blockchain technology and decentralization must be at the core of this innovation. University of Cambridge to launch decentralized carbon credit marketplace on the Tezos blockchain
Long-term holders, who have held their Bitcoin for more than 12 months, are reluctant to spend their coins, according to Glassnode’s “The Week On-Chain” report. Another positive is that investors continue to withdraw coins from centralized exchanges whose share of supply has dropped to a new record low at 12.9%.
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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.
“You have a high chance of losing it all, but a small chance of winning it big,” says Nate Nieri, a CFP with Modern Money Management in San Diego, California. “Don’t gamble an amount that would burden your family or prevent you from achieving your goals” if you lost it all, he says.