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SafeMoon is a newly added cryptocurrency that has seen a rise in its rates since its launch in March 2021.
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At the time of writing, Bitcoin’s value was fluctuating at around $67,921.67, or £50,107 according to Coinbase.
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What is SafeMoon? The new cryptocurrency and how it compares to DogeCoin and Bitcoin
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This year we saw a similar fight break out–this time over bitcoin cash. This coin, mind you, is not bitcoin, though it is built on the same architecture. It was created by a group of miners who disagreed with some of the fundamentals of the initial bitcoin system, and so they forked a new blockchain and went their own way. In terms of market capitalization, bitcoin cash has always been one of the top cryptocurrencies–in the ranks of Ethereum and XRP.
But how high will Bitcoin go? Bitcoin’s past may provide some clues, according to Kiana Danial, author of “Cryptocurrency Investing for Dummies.”
“I’ve been through the 2017 cycle, too,” Yang says, referencing the ‘crypto crash’ of 2017 that saw many major cryptocurrencies, including Bitcoin, lose major value. “I know that these things are super volatile, like some days they can go down 80%.”
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The cryptocurrency’s price began to surge on Sunday night (7 November) as investors pumped the price from $62,319.98 at 8pm to $66,101.46 by 10am on Monday morning.
It comes after the cryptocurrency dipped by approximately after surging to $67,700 in late October as traders appeared to pull back in anticipation of another price pump.
Blockchain technology. Enables the electronic payment system for virtual currencies, but not tied to any specific currency. Companies are using blockchains to create a permanent record of transactions of such things as sales of investments, corporate records, and legal documents.