Meanwhile, Cardano (ADA) prices are fluctuating around $2.37 (£1.75) in a 16% increase on the last 24 hours, XRP Ripple was up 2.39% at $1.27 (£0.937129) and Solana at $244.80 (£180.39) as of 2.50pm on Tuesday.
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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.
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Bitcoin price has spent roughly two weeks consolidating around a psychological barrier and shows no affinity to move higher or lower. This indecision indicates reduced volatility and that an explosive move is on its way. Read full analysis Pulse Bomber Launched with a Low Market Cap and Big Future Potential Bybit - Could remittances be the next major use-case for cryptocurrencies?
Many investors see Bitcoin’s price swings as part of the game, but “volatility is tough for individual investors to deal with,” Noble says. Like Yang, he warns against selling too fast.
Earlier today, Bitcoin (CRYPTO: BTC) flash crashed to $8,000 on Binance U.S., the American trading platform of the world's top crypto exchange Binance.
SafeMoon burst on to the cryptocurrency market place earlier this year – and now the digital coin is seeing further gains.
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The new team, called Twitter Crypto, is aimed at being the center of excellence for "all things blockchain and web3," Financial Times reported.
Bitcoin’s bullish price rise to near $70,000 in value comes as investors hope to see the $1 trillion market cap remain firmly in place ahead of a volatile trading period.
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Popular Twitter trader Crypto Chase said "well done Binance U.S." and sarcastically commented that it's a "good thing Americans are forced on to these dogs**t exchanges where they can get completely scammed on unreasonably thin books."
A recent statement from President Joe Biden read: “Cyber threats can affect every American, every business regardless of size, and every community.”
In conclusion, our Safemoon forecast has covered what this token is and how it functions. As you can imagine, Safemoon’s small size combined with the media attention it has received has meant that many retail investors believe it could reach dizzying heights. Although this could be true, the fact that Safemoon doesn’t have any real-world uses as of yet could be an issue; however, if this changes, we could see some significant moves in the months and years ahead.