— Ivelisse Porroa-Garcia is now director of government affairs at Ferox Strategies. She previously was policy director for the Congressional Hispanic Caucus.
This positive view will invalidate if the price turns down from the current level or the overhead resistance and plummets below the support line of the wedge.
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The bears tried to pull Bitcoin below the breakout level at $67,000 on Nov. 9 but they could not sustain the lower levels. The modest pullback indicates that bulls are buying on every minor dip.
The cryptocurrency market woke up to a shock in early trading on Thursday morning. On the Binance US cryptocurrency exchange, the value of Bitcoin (BTC) plummeted nearly 87 percent in value, settling around $8,200. The issue that caused the value spike was reportedly corrected swiftly and the Bitcoin value returned to its normal levels within a couple of minutes.
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Bitcoin is down roughly 20% week-over-week, around 30% from its all-time high of nearly $65,000 early last week. The market cap of the coin has dipped below $1 trillion. The tumble has been less severe for Ethereum, which hit an all-time high just yesterday but has since dropped 13% as the broader market has crawled back.
Binance may be the top choice for crypto traders across the world but it appears regulators are getting fed up. On June 27, 2021, the Financial Conduct Authority (the U.K.'s financial watchdog), banned Binance Markets Ltd., an affiliate of Binance, from operating in the United Kingdom. As countries around the world continue to take steps toward further regulating cryptocurrency, Binance may have to make some hard choices.
According to Cointelegraph business editor Sam Bourgi, Bitcoin is viewed by many as the best “hard money” alternative to sovereign currencies and:
By hitting the $200m from a previous $150m market cap, Bitrise has again proven the pessimists wrong. The market cap shows that the coin is quickly gaining the confidence of the investors. There are many developments that have taken place in the last few days that have significantly driven such fast growth.
Other criticism of the founding team has come on the back of several promised developments of a Safemoon ‘ecosystem’ (including a bespoke wallet application) that have thus far fallen short of expectations.
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Exchange data from Bybt shows that roughly $46 million worth of long ETH positions were liquidated across the board due to the sudden pullback. Since the flash crash, ETH has also failed to hold above $4,000.
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The electric carmaker said in May that it would no longer accept the cryptocurrency for purchases. It's been a wild ride for bitcoin the last three years.
After that, five percent of the tax is then allocated to people who still own SafeMoon currency. This is to prevent the price from dropping as people start selling the token.
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