An early-morning error led to the value of Bitcoin dropping nearly 87 percent on Binance's crypto exchange.
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The price of Bitcoin rapidly plunged about 87% on Binance's U.S. exchange Thursday morning, sinking to as low as $8,200 from around $65,000. The price did nothing like that on other venues, and on Binance the level almost immediately snapped back to where it had been.
SAN SALVADOR, El Salvador (AP) — El Salvador’s bitcoin-pushing president apparently changed his Twitter profile description to “dictator” Monday, in what might be an ironic comment on last week’s protests against him.
The difference between a digital currency and a cryptocurrency is that the latter is decentralised, meaning it is not issued or backed by a central authority such as a central bank or government. Instead, cryptocurrencies run across a network of computers. Digital currencies have all the characteristics of traditional currencies but exist only in the digital world. They are issued by a central authority.
Musk’s decision signifies a sharp u-turn for Tesla who only started accepting Bitcoin as payment for its services in February 2021.
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The comparison of Binance vs Binance.US ultimately comes down to financial regulations in the United States.
There are quite a few speculations going forward for SafeMoon. Especially keeping in perspective the technological announcements and booming sectors of progress the corporate has designs on, there are assumptions its price may reach $0.0000171. The favor is done by majorly security and scalability features. The exciting promotional ventures may do the rest, making the buyers/sellers harvest the gains.
Bitcoin’s new all-time high at $69,000 and Ether’s slow climb toward $5,000 are clear signals that bulls are in control and a hint that altcoins intend to follow.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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.
As with most cryptocurrencies, there have been mixed reviews so far with one reddit user saying: “I completely agree that once they get listed on an exchange this could easily blow up.”
Recently, such platforms have come under increased scrutiny by lawmakers and regulators. Binance in particular is reportedly under review by regulators in the U.S., Britain, Germany, Japan, Hong Kong and elsewhere.
Polkadot has increased more than 9 percent in the last week. It is trading at $52.87.
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