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Despite the new record high, Bitcoin is still a highly volatile and speculative investment. In fact, the last time the crypto saw a record high in mid-April, it abruptly lost over half of its value and plunged to around $30,000 by mid-July.
CFDs trading are derivatives, which enable you to speculate on cryptocurrency price movements without taking ownership of the underlying coins. You can go long (‘buy’) if you think a cryptocurrency will rise in value, or short (‘sell’) if you think it will fall.
Speculation is a prominent influence on cryptocurrency prices. As seen with the collapse of Bitcoin’s price in 2018, following a bull run from around $1,000 to just shy of $20,000 in 2017, experienced and inexperienced traders alike can go long for too long – expecting the price to keep rising and fearing missing out on the party.
SafeMoon is still a relatively new cryptocurrency compared to others, having only launched in March 2021.
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Find out more about how we can help your cryptocurrency trading, allowing you to take advantage without needing to own a wallet.
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.
There's a huge new pool of money that could be about to juice the bitcoin market, crypto ETF expert says
"My advice to mainstream investors is to wait for the Certik audit (Q4 of 2021) and improvements in the liquidity pool before proceeding."
Typically valued for less than one dollar, Loopring prices are now over $3 a share.
Results were generated a few mins ago. Pricing data is updated frequently. Currency in USD
The SOL/USDT pair could now drop to the support line of the channel. A strong rebound off this support will indicate that the up-move remains intact. Both moving averages are sloping up and the RSI is in the positive territory, signaling that bulls have the upper hand.
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Shortly after achieving these astronomical new heights, Bitcoin’s price fell back toward $62,700 before recovering slightly to around $64,500, while most altcoins endured near double-digit losses.