Before interacting with any given asset, it may be important to look up the asset’s type and function depending on your goals. Not all digital assets were created for investment purposes.
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When the hard fork arrived–and participants had to choose which path to take–the entire cryptocurrency market dropped. This is very likely what caused bitcoin to drop from the $6,000 range to around the $3,000-$4,000 range. Which brings us to today, with the cryptocurrency bottoming out at less than 80% of what it was a year ago.
Despite this incident, crypto industry experts keep speculating about where Bitcoin's price is headed next with some suggesting it will soon hit $80,000. This past Friday, Bloomberg reported Bitcoin was headed for $80,000 to $85,000, while a crypto data expert said resistance at $60,000 would have provided the last buying opportunity before the coin would head for new all-time highs.
Bitwise’s chief investment officer explained why the firm has decided to drop its Bitcoin futures ETF and focus on the spot Bitcoin ETF.
It is also important to mention that Bitrise is one of the coins that Safemoon lost whales to some time ago. This is just one sign that Safemoon is in deep trouble.
Yet some crypto watchers have raised red flags over SafeMoon’s unusual structure. It charges a 10% fee to buy tokens and another 10% to sell -- almost unheard of in the digital currency world. Half of these fees are paid to owners as an incentive to keep holding and the other half goes into a liquidity pool controlled by the developers. SafeMoon calls itself a DeFi token, or one that uses decentralized finance to govern functions through software, but it has a chief executive officer and chief operating officer. Critics also worry about the discretionary nature of the “manual” coin burns used to adjust its circulation.
Learn what crypto day trading is and how to participate in three steps: Select a platform, evaluate your investment options, and pick a trading strategy.
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Funding rates increased significantly in the hours after BTC/USD passed its recent all-time high and went on to hit $67,100. Bitcoin and Ethereum appear to have lost strength after Thursday's flash crash on Binance U.S.
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Critics also highlighted that its website contained many spelling mistakes and grammatical errors. The website is no longer online and social media accounts promoting the tokens have also vanished.
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Through crypto ETFs, investors can speculate on the future cost of cryptocurrencies without having to actually hold it themselves.
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PancakeSwap is Binance's Decentralized Exchange (DEX) and the largest Automated Market Maker (AMM) around.
The team, dubbed Twitter Crypto, will serve as a "center of excellence" for all things blockchain at the social media giant and will be "setting the strategy for the future of crypto at and on Twitter."