Steep rises and unexpected dives in the price of cryptocurrencies are relatively common. As the market stabilises, the volatility has slowly decreased, but irrationality will always be part of the trading game.
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The Basics of Bitcoins and Blockchains: An Introduction to Cryptocurrencies and the Technology that Powers Them (Cryptography, Crypto Trading, Digital Assets, NFT)
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.
After that, five percent of the tax is then allocated to people who still own SafeMoon currency. This is to prevent the price from dropping as people start selling the token.
Bitcoin wasn’t the only cryptocurrency to feel the initial effects, with most of the top 10 all experiencing dips in value.
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Moreover, Coinpedia projects the price could range between $0.00000957 at the low end and a peak of over 2x that amount or more ($0.0000192). new follow-up comments new replies to my comments Label Name* Email* Website News PlayStation Xbox Nintendo PC Guides Game Culture Film TV Tech Features Reviews Previews Twitch Discord Merch Best Products Shop
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Even if this were the case, and Safemoon coin was to increase in price dramatically before an instant fall, it would still represent a good investment for purely speculative investors. For example, if Safemoon were to simply return to the all-time high experienced on April 20th, then that would represent an incredible 921% return from today’s price!
So the product rewards people who hold onto it instead of trading it. By doing this, it implements a 10 percent penalty tax fee.
Safemoon offers a unique way of investing in cryptocurrency, as people who hold Safemoon and then sell it are subject to a 10% fee. This fee is halved, with 5% of it being given back to other Safemoon holders – the developers call this ‘reflection’. The additional 5% is split again, with 2.5% being used within the liquidity pools on exchanges such Pancake Swap, with the other portion being converted into BNB.
There is a lot of volatility in the cryptocurrency space due to the industry’s newness. Investors are seeking to experiment with their money to generate riches quickly and figure out how cryptocurrency prices vary and whether they can affect them.