Although bitcoin may be the most popular cryptocurrency, many crypto traders want to build a diversified portfolio comprised of projects across many facets of the crypto space. In fact, diversification is so important that our team has been building an index trader, which will allow our customers to easily trade a basket of cryptos that align with their specific goals. This will be released shortly.
Elon Musk’s announcement that Tesla would no longer be accepting Bitcoin as payment on environmental concerns was followed by China issuing a crypto crackdown.
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Twitter is launching a dedicated crypto team to work on blockchain applications and Web3
The overall market cap of cryptocurrencies hit $3.3 trillion on Monday, according to CoinGecko pricing.
Danial says there have been plenty of huge spikes followed by pullbacks in Bitcoin’s price since 2011. “What I expect from Bitcoin is volatility short-term and growth long-term.”
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For many people, crypto is a type of alternative investment. Just as you can buy and trade stock in public companies, you can buy cryptocurrency with the hope that it will increase in value over time, allowing you to cash out for a profit at a later date. Some people invest in crypto less for the belief that it will become a popular currency and more as a bet on the blockchain technology behind it.
SafeMoon is one among the handful of cryptocurrencies that made it to the top 100 crypto-list on its own. SafeMoon did not have the backing of top trading platforms and managed to gain investors’ attention by its projects alone.
While fluctuations are expected, Noble says this swing is a bit out of the ordinary. “I thought the market was maturing and these things would be less frequent and severe. Boy was I wrong,” he says.
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JPMorgan CEO Jamie Dimon, for instance, made multiple comments throughout the year expressing his general antipathy for cryptocurrency. Dimon’s thoughts could most easily be summed with this quote: “I don’t really give a shit about bitcoin.” Warren Buffett also didn’t have kind words–calling it “probably rat poison squared”–which almost certainly sent a clear message to curious investors.
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