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JERUSALEM (AP) — Israel said Thursday it will begin seizing cryptocurrency accounts used by the Palestinian Hamas group to raise money for its armed wing.
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On the other hand, if the price turns down from the overhead resistance, it will suggest that traders are defending the level aggressively. The bears will then make one more attempt to pull the price down to the 20-day exponential moving average (EMA) ($566).
FTM has outdone the market in terms of price actions ever since Fantom Foundation announced a 370 million FTM incentive program for developers in August. FTM is currently trading close to $2.6 - up more than 17x from a low of $0.15 in August.
Mikhael Karkhalev, financial analyst at currency.com, said: “Growing concerns around inflation and global rate hikes are clearly on investors’ minds.
If current trends continue, observers predict that the last Bitcoin unit will be mined sometime in the mid-22nd century, for instance — not exactly around the corner.
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We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.
The value of cryptocurrency is also driven by scarcity. This alludes to the cryptocurrency’s finite mechanism. The Bitcoin protocol sets the maximum amount of BTC that can be mined at 21 million. Therefore, as more people enter the crypto space, Bitcoin’s scarcity will inevitably increase, causing its price to increase. Some coins also use the burning mechanism to increase their value by destroying a portion of the supply.
In this eventuality, BTC could drop toward the 100 or 200 four-hour moving average. These demand zones sit at $59,000 and $52,000 respectively.
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Additionally, cryptocurrencies are frequently used to facilitate gray and black market transactions, so many countries view them with distrust or outright animosity.
Cryptocurrencies are an alternative to traditional money. Today, some outlets accept cryptocurrencies as a form of payment. However, they bear little resemblance to other asset classes because they are intangible and extremely volatile. They are mainly used by traders for speculating on rises and falls in value.
Gold has historically always held value. The precious metal isn’t just used as a component of decorative jewellery: it has often been used as a currency and as an investment. Gold-backed cryptocurrencies essentially bring gold to the blockchain.
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