Now that you’ve got an idea of what Safemoon is and its background, we can focus on the coin’s long-term outlook. Most beginner crypto investors simply buy Bitcoin (BTC) or Ethereum (ETH), although lesser-known coins such as Safemoon can be better options if you are looking for quick returns. However, that being said, these options tend to be much riskier, so this will depend on your risk tolerance.
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The decision to buy cryptocurrency should always have a long-term outlook, as crypto prices can be particularly volatile. Safemoon is no different, as in its short lifespan, the price has already exhibited some significant price swings. To get a better sense of Safemoon’s outlook, let’s take a look at the technical and fundamental factors that could shape price in the future.
The debacle was tinged with irony, coming just as Binance CEO Changpeng Zhao, also known as CZ, warned about incoming volatility.
Kroger says it was hit with a fake press release falsely claiming the nationwide grocer would be accepting Bitcoin Cash
A look at the recent charts shows that Safemoon has been on a downward trend since the start of November. Safemoon has also not been doing very well since its last all-time high around 21st April 2021. Despite a surge in mid-May, the next time Safemoon experienced bullish growth was the end of October.
From finding a solution to producing renewable energy and solar energy through turbines in Gambia, to upgrading the platform to V2 for enhanced security, SafeMoon has pulled the right cards at the right time in a short period.
According to reports on Tuesday 26 October, US regulators are looking for new ways and strategies for banks to hold crypto assets and address their current rise.
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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.
While fluctuations are expected, Noble says this swing is a bit out of the ordinary. “I thought the market was maturing and these things would be less frequent and severe. Boy was I wrong,” he says.
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Through instructions in their source codes, cryptocurrencies automatically adjust to the amount of mining power working to create new blockchain copies — copies become more difficult to create as mining power increases and easier to create as mining power decreases.