On Oct. 21, Binance.US suddenly printed a one-minute candle that took BTC/USD from $65,815 to $8,200 — a drop of 87%.
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Home / Markets / Cryptocurrency / Bitcoin, dogecoin fall, Shiba Inu plunges 11%, Check cryptocurrency prices today Bitcoin, dogecoin fall, Shiba Inu plunges 11%, Check cryptocurrency prices today Premium Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, Litecoin are placed on PC motherboard in this illustration (REUTERS) 1 min read . Updated: 11 Nov 2021, 07:54 AM IST Livemint
Although this may seem like a negative, it actually means that if the Safemoon cryptocurrency were to showcase extreme growth, then any investments right now would be in at the ground level. Right now, the attention surrounding Safemoon is mainly negative, as many cryptocurrency market commentators are claiming that the token has no actual use except to make the development team and certain investors rich.
Due to their political independence and essentially impenetrable data security, cryptocurrency users enjoy benefits not available to users of traditional fiat currencies, such as the U.S. dollar, and the financial systems that those currencies support.
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Crypto prices have been on a tear for the past several months, but the past week has been the clearest sign of a correction to climbing prices, though many see news of President Biden’s adjustment to the hikes on the capital gains tax as the most apparent reason for the market’s slide as investors cash out hoping their gains won’t be reached by a retroactive application of the rules.
Coinbase falls 11% after the crypto exchange misses Wall Street's 3rd-quarter earnings expectations
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It is also important to mention that Bitrise is one of the coins that Safemoon lost whales to some time ago. This is just one sign that Safemoon is in deep trouble.
And while proponents tout cryptocurrencies as potentially lucrative alternative investments, few serious financial professionals view most coins — with the important exception of Bitcoin and a few others — as suitable for anything other than pure speculation.
Earlier today, Bitcoin (CRYPTO: BTC) flash crashed to $8,000 on Binance U.S., the American trading platform of the world's top crypto exchange Binance.
Several factors explain why Binance.US launched a separate platform. Changes in regulations and Binance’s own rules reaction to external changes stand out as a large driver.
Mikhael Karkhalev, financial analyst at currency.com, said: “Growing concerns around inflation and global rate hikes are clearly on investors’ minds.
A digital token inspired by the popular South Korean Netflix series Squid Game has lost almost all of its value as it was revealed to be an apparent scam.
Binance may be the top choice for crypto traders across the world but it appears regulators are getting fed up. On June 27, 2021, the Financial Conduct Authority (the U.K.'s financial watchdog), banned Binance Markets Ltd., an affiliate of Binance, from operating in the United Kingdom. As countries around the world continue to take steps toward further regulating cryptocurrency, Binance may have to make some hard choices.
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