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.
Bitcoin hit another new all-time high above $68,000 Wednesday, two days after its previous all-time high when it went over $68,000 for the first time on Monday.
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Satoshi Nakamoto. A pseudonym for an individual or group that introduced Bitcoin in late 2008 in a white paper published via a mailing list for cryptography. To facilitate transactions, bitcoins can be divided into miniscule units. For example, there are units as tiny as a millionth of bitcoin, or even a hundred-millionth of a bitcoin, which is called a satoshi.
Now that Bitcoin has reached the channel’s lower trendline, an upswing toward its middle or upper trendline could be underway. These crucial areas of resistance sit at $66,000 and $70,000 respectively.
Worth noting: Once upon a time, cryptocurrency mining was a potentially lucrative side business for those with the resources to invest in power- and hardware-intensive mining operations.
BTC to BITO: the original cryptocurrency, and the promise and limitations of Bitcoin ETFs
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Ethereum has increased by 1.8 percent to $4,806. Like Bitcoin, over the last week, Ethereum too has surged more than 10 percent.
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But the hacks didn’t stop. In 2016, the DAO–a blockchain organization that was based on Ethereum–lost what was worth $50 million at the time, due to a technical error someone seized upon. This, once again, sent shockwaves through the community–but also had the unfortunate impact of normalizing these types of hacks for some people.
The hyper deflation payment network token has caused ripples in the crypto world and continues doing well on top of all this.
While the cryptocurrency market is known for its volatility—and this volatility is often linked to the ever-changing regulatory environment of the industry—the entire cryptocurrency market is expected to reach a total value of $1 trillion this year. If you want to get in on the action, this book shows you how.
Some are curious if this meme coin will ever truly see a full Shiba and Dogecoin-like impact, although it’s already off to an impressive start.
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