Plus, a short seller’s $1m ‘bounty’ on Tether, more outflows from unloved UK stocks and Tom Stoppard’s Leopoldstadt
Brits are being warned they risk losing all of their money if they invest in bitcoin and other cryptocurrencies.
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Though both assets posted a quick recovery, the event has made a significant impact on the market. Bitcoin retraced by 7.4% a few hours after making a new all-time high at $67,000.
We’ve invested $13 billion in teams and technology over the last 5 years to enhance safety.
Its website carries the slogan ‘Safely to the Moon’ - a play on the phrase first mooted by WallStreetBets on Reddit in an attempt to hype up the price of Dogecoin.
Wavelet coherence plots between (a) Bitcoin and Litecoin prices; (b) Bitcoin and Monero prices; (c) Bitcoin and Ethereum.
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Bitcoin (BTC) -5.11% (£48,199.49)Ethereum (ETH) -2.38% (£3,502.32)Binance Coin (BNB) -5.15% (£463.07)Tether (USDT) +0.91% (£0.75)Solana (SOL) -1.38% (£178.60)Cardano (ADA) -7.61% (£1.55)XRP (XRP) -7.29% (£0.90)Polkadot (DOT) -5.50% (£35.69)Dogecoin (DOGE) -5.65% (£0.19)SHIBA INU (SHIB) +8.29% (£0.00004094)Terra (LUNA) -1.43% (£37.61)
The growth of SafeMoon, coupled with its online slogan, has drawn comparisons to the surge in popularity of another cryptocurrency Dogecoin.
We’ve done price predictions for Bitcoin, Ethereum, Dogecoin, Shiba Inu, dYdX, EOS, Saitama, Loopring, Decentraland, and Ethereum Name Service.
The demand for a cryptocurrency depends on many factors. Demand will be increased based on how useful it is to own the coins. This means if the crypto monetary system works well (i.e. fast transactions and low fees), if smart contracts become more commonplace, and if more businesses start to accept crypto, the demand for crypto will increase. Additionally, there is an increased demand for cryptocurrencies as a store of value investment.
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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.
Lamont, O. A. (2001), “Economic tracking portfolios”, Journal of Econometrics 105 (1), 161–184.
What is SafeMoon? The new cryptocurrency and how it compares to DogeCoin and Bitcoin