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Some investors have predicted even bigger gains for Bitcoin, despite continued criticism of the cryptocurrency by JPMorgan Chase (JPM)CEO Jamie Dimon, who has called the coin "worthless."
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But one of these sessions caused SafeMoon’s price to plummet by more than 50 per cent.
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Time will tell whether this is the case, but right now, the Safemoon price is trading pretty close to where it was in April 2021, right before the massive price increase. Since the all-time high of $0.00001094 back in May, the Safemoon price live dropped over 87%. Furthermore, the trading volume is extremely low, with CoinGecko reporting that just over $3.5 million worth of Safemoon was traded in the last 24 hours.
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“Volatility is as old as the hills, and it’s not going anywhere,” Noble says. “It’s something you have to deal with.”
Find out more about how we can help your cryptocurrency trading, allowing you to take advantage without needing to own a wallet.
Makarov, I. and A. Schoar (2018), “Trading and arbitrage in cryptocurrency markets”, Journal of Financial Economics, forthcoming .
Even if this were the case, and Safemoon coin was to increase in price dramatically before an instant fall, it would still represent a good investment for purely speculative investors. For example, if Safemoon were to simply return to the all-time high experienced on April 20th, then that would represent an incredible 921% return from today’s price!
CFDs trading are derivatives, which enable you to speculate on cryptocurrency price movements without taking ownership of the underlying coins. You can go long (‘buy’) if you think a cryptocurrency will rise in value, or short (‘sell’) if you think it will fall.
About 15 years later, an accomplished software engineer named Wei Dai published a white paper on b-money, a virtual currency architecture that included many of the basic components of modern cryptocurrencies, such as complex anonymity protections and decentralization.
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