With its bullish structure now invalidated, those looking for long positions will need to eye support levels at $2.44 and $2.2. Should the crypto market remain bearish (with BTC having a probability of revisiting $60-62K), these levels are likely to come into play.
The crypto prices today are trading in the red as Bitcoin, as well as the altcoins, have retreated after a strong week of rallies to new all-time highs.
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It’s always hard to know exactly what is driving crypto prices given the opacity of the market and a certain rather large player whose name rhymes with weather, but we think it’s probably partly related to the same market madness that drove GameStop to da moon, as well as to a desire for an alternative to central bank-issued money due to worries about the government overreach (by means of Covid restrictions), and also endorsements from chief executives at the likes of PayPal, Tesla and Twitter/Square.
The current Safemoon crypto price is $0.000002663, up more than 17% in the last 24 hour period.
Home / Markets / Cryptocurrency / This cryptocurrency zoomed over 70,000% in just 24 hours This cryptocurrency zoomed over 70,000% in just 24 hours Premium The crypto has been very volatile in the past week with huge price swings 2 min read . Updated: 11 Nov 2021, 05:31 PM IST Livemint
Ripple (XRP) broke and closed above the overhead resistance at $1.24 on Nov. 8, signaling that bulls are attempting a comeback. The bears tried to pull the price back below $1.24 but failed to sustain the lower levels.
That’s the same crowd that has pumped up the prices this year for other crypto like Shiba Inu and Dogecoin.
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.
Of late, crypto prices have risen on the back of comments from billionaire Elon Musk and Ark Investment Management LLC's Cathie Wood.
Consumers could easily assume the advertising of unregulated cryptos has cleared tough hurdles More Cryptocurrencies
Additionally, cryptocurrencies are frequently used to facilitate gray and black market transactions, so many countries view them with distrust or outright animosity.
Open a free, no-risk demo account to practise trading on our full range of cryptocurrencies.
View: A digital rupee and cryptocurrencies can (and should) co-existAnirudh Rastogi & Amol Kulkarni
This past autumn, the bitcoin cash community–which was created due to a technical disagreement with the larger bitcoin sector–started a civil war. Essentially, bitcoin cash developers had diverging views on the software update for the system, and so they decided to implement another hard fork. This created two new bitcoin cash sects. Internally, the fork caused a lot of strife; one of the most popular bitcoin alternatives was unable to reach a consensus, and instead had to create two different paths that would essentially go to war with each other.
The U.S. firm shares a name with Binance Holdings Ltd., the world’s biggest crypto exchange -- and Changpeng Zhao, the CEO of Binance Holdings, is chairman of the board at Binance.US. Binance Holdings faces a U.S. Justice Department investigation into whether its platform has facilitated money laundering and tax evasion. Numerous countries have also announced probes and demanded that Binance curtail or amend operations within their borders.
The late 1990s and early 2000s saw the rise of more conventional digital finance intermediaries.