Cryptocurrencies do not exist as a stack of notes or coins. Instead, they live only on the internet. Consider them virtual tokens, the value of which is decided by market forces created by those seeking to purchase or sell them.
After a year of gains and record highs, crypto currencies are enduring a turbulent time with unpredictable price changes.
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Bitcoin price has been consolidating for more than ten days and shows no signs of a directional bias. BTC collected liquidity and could be primed for a move lower. For now, the altcoins are showing strength as BTC coils up. If BTC crashes, altcoins are bound to take a hit.
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SafeMoon captured attention from the get-go. Its name evokes a prudent form of the “to the moon” mantra embraced by crypto crowds looking for prices to burst straight up.
The growth of SafeMoon, coupled with its online slogan, has drawn comparisons to the surge in popularity of another cryptocurrency Dogecoin. (Pic: Shutterstock)
In early November, FTM formed an inverse head and shoulder pattern, eventually breaking the neckline with a steep rise close to $3.2. However, it is now recovering from the steep drop it experienced overnight along with the market. On its way down, it broke through several local support levels.
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The scope of the Binance.US error, however, was in a league of its own and did not go unnoticed by market participants.
Business News › Markets › Cryptocurrency › Top cryptocurrency prices today: Cardano, Polkadot, Dogecoin shed up to 5%
Lustig, H. N. and S. G. Van Nieuwerburgh (2005), “Housing collateral, consumption insurance, and risk premia: An empirical perspective”, Journal of Finance 60 (3), 1167–1219.
SAFEMOON launched earlier this year - and it's already attracting attention from cryptocurrency investors.