And that, we regret to inform you, has led to some rather silly thinking (highly unusual in the crypto community, we know), specifically of the chart-crime variety:
The SafeMoon price is not joining in the broader market rally today and is down about 4%. Over a longer term view, however, SafeMoon is doing just fine. Since October, the SafeMoon price has rallied over 160%. The recent declines could be investors taking some profits off the table in a broader market that is trading at all-time highs.
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Ethereum’s previous all time high of $4,379.11 was reached in May’s cryptocurrency boom, but the cryptocurrency is now trading at roughly $4,832 (£3,562.31) as of 2.43pm on Tuesday afternoon.
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It remains to be seen if Decentraland turns into the next meme coin of choice for retail investors, but it has lately picked up some traction from Reddit users via threads.
Experts warn that these can sometimes be a sign of a scam and make it a very high risk investment.
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Holders earn passive rewards through static reflection as they watch their balance of SafeMoon grow indefinitely.
The latest new SafeMoon wallet listings announced on Nov. 5 include Shiba Inu, Chainlink and Aave.
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Cryptocurrency prices today: Bitcoin rises over 4%; Ethereum, Dogecoin & Litecoin gain up to 18.7% The price of Bitcoin rose 4.63% to $68,351 on Coinmarketcap. Market cap of the cryptocurrency reached $1,288.07 billion. Currently, the global crypto market cap stands at $2.94 trillion, an increase of 3.21%. Other cryptocurrencies were also trading in the green. BusinessToday.In Nov 09, 2021, Updated Nov 09, 2021, 10:09 AM IST
Miners serve as record-keepers for cryptocurrency communities, and indirect arbiters of the currencies’ value.
That can mean serious savings for investors, especially compared to some other exchanges. For example, if you want to buy $100 worth of Bitcoin on Coinbase, you’d actually end up with about $96.51 in Bitcoin, after fees. On Binance.US, you’d still have $99.99 to purchase Bitcoin after accounting for the 0.1% fee.
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Shiller, R. (1981), “Do stock prices move too much to be justified by subsequent changes in dividends?”, American Economic Review 71 (3), 421–36.
From the perspective of technical analysis, profit-taking near all-time highs and the need for a retest of lower support levels are normal processes for most cryptocurrencies. In fact, a quick glance over discussions by many analysts and traders on Twitter shows that most expected BTC to revisit lower support levels at $64,000 and below before recapturing bullish momentum and moving higher.