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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.
In this eventuality, BTC could drop toward the 100 or 200 four-hour moving average. These demand zones sit at $59,000 and $52,000 respectively.
Get daily crypto briefings and weekly Bitcoin market reports delivered right to your inbox. Key Takeaways Bitcoin and Ethereum are holding above crucial support levels. Both assets could face significant losses if they lose these key interest areas. BTC could dive to $58,000 and ETH toward $3,700. This Exchange News was brought to you by OKCoin, our preferred Exchange Partner.
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In conclusion, our Safemoon forecast has covered what this token is and how it functions. As you can imagine, Safemoon’s small size combined with the media attention it has received has meant that many retail investors believe it could reach dizzying heights. Although this could be true, the fact that Safemoon doesn’t have any real-world uses as of yet could be an issue; however, if this changes, we could see some significant moves in the months and years ahead.
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Regarding regulatory attention, in late June, the UK’s regulator, the FCA, issued a statement that “Binance Markets Limited is not permitted to undertake any regulated activity in the UK.”
Six out of the top-10 cryptocurrencies were trading higher at 9.30 hours IST. Binance Coin and Solana witnessed profit booking whereas XRP gained 9 per cent.
The former US banking regulator and crypto enthusiast is resigning at a time when regulators in Hong Kong, Britain, Germany, Japan, Italy and Thailand have cracked down on Binance due to worries over investor protection. Watchdogs globally also fret that the boom in cryptocurrencies is aiding money laundering and increasing systemic risks.
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The flag-wavers point to these and other concerns to warn that SafeMoon may not, in fact, be safe.
While, theoretically, U.K. users are still able to fully use the platform, responding to the ruling, a number of U.K. banks, including Barclays and HSBC, have since banned their customers from depositing into Binance.
Released in 2011, Litecoin (LTC) uses the same basic structure as Bitcoin. Key differences include a higher programmed supply limit (84 million units) and a shorter target blockchain creation time (2.5 minutes).
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