Terra’s LUNA token has been trading inside a rising wedge pattern. The bulls attempted to push the price to the resistance line of the wedge on Nov. 8 but could not sustain the higher levels.
Following the Chinese state’s move, countries like South Korea also pledged to tackle the rise in money laundering taking place via cryptocurrency, while the Metropolitan Police announced that it had successfully closed in on a huge UK cryptocurrency money-laundering operation.
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Meanwhile, even the most enthusiastic bitcoin evangelists are realizing that a retooling is in order. Michael J. Casey, a senior adviser for blockchain research at MIT’s Digital Currency Initiative, recently wrote about how the crypto-winter has arrived, but it may lead to better things down the line:
Overall, we’d urge you to do your own research if you were to invest in Safemoon. Common investment advice states that the cryptocurrencies which perform the best over the longer term are those with real-world utility, which Safemoon doesn’t seem to have at present. Although the developers may improve the protocol and create some valuable use cases, there is still the chance that this coin could be a ‘memecoin’.
(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the asset/s mentioned.)
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The buyers will now attempt to push the price to the resistance line of the wedge. If bulls thrust the price above the wedge, the bullish momentum could pick up and the LUNA/USDT pair may reach $62.59.
An Instagram ad by the influencer was criticised in a speech by FCA chairman Charles Randell.
The image of two-year-old Chloe Clem making a disapproving face was auctioned in cryptocurrency.
The process of collecting cryptocurrency as a reward for solving complex functions and recording data to a blockchain is referred to as cryptocurrency mining.
People considering investing in Bitcoin or shares and stocks have also been warned over "risky" tips being shared on TikTok.
OK perhaps that’s a little far-fetched. But what is behind crypto’s crazy climb over the past 18 months, we hear you ask? We don’t mean to suggest that the pandemic hasn’t been involved, because we think it has, but not in the way that this chart criminal implies — not, in other words, because it’s some kind of safe haven that traders flock to when they are worried about Covid cases rising; the data don’t bear that idea out.
Can Bitcoin and altcoins sustain their bullish momentum or will profit-booking drag prices lower? Let’s study the charts of the top 10 cryptocurrencies to find out.
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A petition to 'Get Safemoon Listed On Coinbase' has currently gained 4,646 signatures.
Barberis, N., A. Shleifer, and R. Vishny (1998), “A model of investor sentiment”, Journal of Financial Economics 49, 307{343.
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