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CryptoTV by CoinSwitch Kuber | Kavita Gupta, Founder - Delta Blockchain Fund, FINTECH.TV
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Bitcoin price action shows its weekly Ichimoku chart to be in the most bullish position it has been in since the week of July 31st, 2021. Thus, bulls are positioned perfectly to see Bitcoin rally to $77,000 and beyond. Bitcoin price is locked and loaded for a monster move higher.
ETF approval has been in consideration by the SEC multiple times over the past few years, but BITO is the first to gain approval.
Long-term holders, who have held their Bitcoin for more than 12 months, are reluctant to spend their coins, according to Glassnode’s “The Week On-Chain” report. Another positive is that investors continue to withdraw coins from centralized exchanges whose share of supply has dropped to a new record low at 12.9%.
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.
The sudden spike in selling pressure pushed the flagship cryptocurrency to a low of $62,050, easing nearly 5,000 points in market value. Although prices have bounced back above $63,000 in the last few hours, it remains to be seen whether BTC can hold above support.
“If you were to wake one morning to find that crypto has been banned by the developed nations and it became worthless, would you be OK?” Frederick Stanield, a CFP with Lifewater Wealth Management in Atlanta, Georgia, told NextAdvisor recently.
Early cryptocurrency proponents shared the goal of applying cutting-edge mathematical and computer science principles to solve what they perceived as practical and political shortcomings of “traditional” fiat currencies.
Anyway, SafeMoon has been under the eyes of skepticism. Professionals say that it is an unpredictable business to put money into SafeMoon as it isn’t directed by using any particular means. It has been compared with a Ponzi Scheme as most liquidity is claimed by the group. SafeMoon has excused these cynics and has declared its precise path for the coming years. The group intends to coordinate SafeMoon with African Markets, investigate different trades like Binance, and even begin its own trade.
Community-driven DeFi token SafeMoon has made it to the top 100 cryptocurrencies by market capitalization. SafeMoon prepares for a comeback with the upcoming V2 upgrade.
SafeMoon burst on to the cryptocurrency market place earlier this year – and now the digital coin is seeing further gains.
While it shares characteristics of both currency and investments, there’s still debate among experts about whether cryptocurrency is clearly one or the other.
Verdict: When it comes to the number of cryptocurrencies available for trading, Binance.US is relatively in line with other U.S. based crypto exchanges such as Coinbase, Kraken, and Gemini. However, it certainly cannot compete with its parent company, Binance.
He was referring to the stringent regulation that forced most cryptocurrency exchanges to deploy separate trading platforms for U.S. customers only. Consequently, American crypto traders tend to operate on less liquid cryptocurrency exchanges.
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