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.
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Yang’s set it and forget it approach to crypto reflects his philosophy for investing in the traditional stock market, but some experts feel cryptocurrency is too different from traditional investments to draw any historical comparisons. That’s why A’Shira Nelson of Savvy Girl Money is staying well away.
Cryptocurrency prices can move in spectacular fashion, and there are a variety of triggers for such volatility. Here are a few of them:
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While still on the tokenomics, Safemoon does not offer investors better returns than competing companies like Bitrise. That's the reason why over the last few weeks, there has been a mass movement of Safemoon community members joining Bitrise. This includes Safemoon whales. One of the reasons for this movement is better ROI from Safemoon competing coins.
Steep rises and unexpected dives in the price of cryptocurrencies are relatively common. As the market stabilises, the volatility has slowly decreased, but irrationality will always be part of the trading game.
Currently, the global crypto market cap stands at $2.94 trillion, an increase of 3.21%. Other cryptocurrencies were also trading in the green.
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China is one market to impose strict regulation that impacted prices. In February 2018, the country blocked its citizens from accessing websites that offer cryptocurrency trading services, prompting a 15% fall in Bitcoin and 20% plunge for Ether. Similarly, in January 2018, Bitcoin’s price was hit by new South Korean legislation requiring traders to reveal their identity.
Millions of Salvadorians are expected to download a digital wallet app with $30 of free Bitcoin.
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.”
CryptoTV by CoinSwitch Kuber | Anirudh Rastogi-Founding and Managing Partner - Ikigai Law
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Stratford Strategies, LLC Formerly Known As Cb Anderson Partners, LLC: City Of Santa Monica, Ca Caitlin Oprysko covers lobbying for POLITICO and writes the Influence newsletter. She was previously a breaking news reporter for POLITICO, covering the 2018 midterms, 2020 election and everything (seriously) in between. She joined POLITICO Pro in 2016 as a web producer and also worked on Pro’s Legislative Compass team, covering an omnibus spending bill, the farm bill and several appropriations bills from their introduction to the president’s desk.
LUMMIS: So the concept of mining bitcoin and its great store of value was something that resonated with me, coming from a mining state.
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