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But even this kind of pullback could not kill the inherent uptrend and in one of our previous reports, we mentioned that a breakout above $62,500 was required for BTC to resume strength.
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As its name suggests, you can use cryptocurrency to make purchases. But your purchasing power is limited; crypto isn’t yet widely accepted among retailers and other businesses.
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Cryptocurrency prices can move in spectacular fashion, and there are a variety of triggers for such volatility. Here are a few of them:
Safemoon is a cryptocurrency token that was launched in March 2021. The token is housed on the Binance Smart Chain (BSC), a blockchain developed by Binance that runs parallel to the traditional Binance Chain (BC). The difference between the two is that Binance Smart Chain has smart contract functionality, opening up many avenues for decentralised applications (dApps) to be constructed.
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The breach occurred on November 3 when an “unauthorized third party” gained access to information from a number of users.
CFDs trading are derivatives, which enable you to speculate on cryptocurrency price movements without taking ownership of the underlying coins. You can go long (‘buy’) if you think a cryptocurrency will rise in value, or short (‘sell’) if you think it will fall.
Before you trade money for crypto, you’ll need to deposit — and when you sell, withdraw — U.S. dollars into and out of your Binance.US account. The fees for this are minimal, especially if you transfer from your bank account using ACH.
The SafeMoon exchange is a revolutionary new idea that will bring tokenomics to all of crypto on its platform. We call this Cryptonomics.
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Although “smart contracts” represent an important move toward addressing the lack of chargebacks and refunds in cryptocurrencies, it remains to be seen whether they’re enough to solve the problem completely. Still, they’re at least partly responsible for Ethereum’s success.
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Bitcoin’s current rally has been fueled by the U.S. trading debut of a Bitcoin-linked ETF as well as Elon Musk’s weekend Twitter poll, said Ben Caselin, head of research and strategy at crypto exchange AAX. “With Shiba and other memecoins having surged recently, and Facebook’s rebranding to Meta, interest in altcoins continues to rise.”
It hasn’t been plain sailing — the firm lost $40 million and briefly paused trading last month following a “large scale” hack. Search x Dive Brief Binance.US CEO resigns By Robin Bradley Associate Editor Jack Taylor / Stringer via Getty Images
The pair could first drop to $4,146.30 but if this support also gives way, the correction could reach the psychological support at $4,000.