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Ripple is also more easily converted than other cryptocurrencies with an in-house currency exchange that can convert Ripple units into U.S. dollars, yen, euros, and other common currencies.
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"The U.S. historically has made very clear regulations, so we hope that will clear up," he said. "At the same time, some early adopters in this space will be better rewarded. There are uncertainties in the regulatory space, but we're willing to try."
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:
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When Covid numbers goes up, Bitcoin goes up. Based on this analysis I am issuing a BUY order on Bitcoin with a price target of $1 million by September. Attached is my analysis with the Bitcoin chart just above the Covid chart. All thoughts welcome. pic.twitter.com/AeMAEAixn9
And while the cryptocurrency has since dipped slightly on Tuesday afternoon, it is still up by a whopping 350% on Bitcoin’s price at 7 November 2020 after nearing the new $70,000 threshold.
Technically, it broke out of its descending triangle consolidation zone in the first week of November, followed by two important resistances at $62,500 and also at $63,500. This makes it bullish for the short term as well & these resistances will now act as support, above which one may enter long positions in BTC.
Even though the current downside move is sure to shock some investors, slight corrections after reaching new all-time highs are a customary practice for Bitcoin.
Some cryptocurrencies, like Bitcoin, have a finite number of coins that help to generate demand and reinforce their perceived worth. For example, the maximum supply of Bitcoin is capped at 21 million, as determined by the Bitcoin's creator(s).
Cryptocurrency is a type of currency that’s digital and decentralized. Cryptocurrencies can be used to buy and sell things, and their potential to store and grow value has also caught the eye of many investors.
The team announced a few days back that Safemoon whales had joined the coin. Since then, there has been an influx of new crypto members joining Bitrise coin. All these factors have significantly driven the market cap up by +$200 at the time of writing. But what are the underlying factors driving the huge number of investors joining Bitrise crypto coins every day?
For more breaking news and information on cryptocurrency markets and various other tech-centric avenues of interest, make sure to check in regularly here with us at Shacknews. We also provide a wide assortment of video game coverage, including news, previews, reviews, and some of the most comprehensive guide content available online.
A Sesame Street special titled "The ABCs of COVID Vaccines" shows muppet Rosita getting her first COVID-19 shot.
From the rise of meme stocks to the increasing mainstream adoption of crypto, Wall Street has embraced once-fringe areas of investing and finance.
“It was almost like you just gave a 21-year-old a million dollars,” Harrison said. “I get it -- they were excited to be so popular.”
But it wasn’t just outside pessimism that led to the slump, but infighting as well. Blockchains are decentralized, and democratic systems require buy-in from participants in order to keep the engines running. When there’s a schism that can’t be decided by the majority, all hell breaks loose.