Bitcoin (BTC) plummeted 2.18% to $66k at the time of writing. Bitcoin’s dominance is currently 43.35%, a decrease of 0.34% over the day.
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Meanwhile, even the most enthusiastic bitcoin evangelists are realizing that a retooling is in order. Michael J. Casey, a senior adviser for blockchain research at MIT’s Digital Currency Initiative, recently wrote about how the crypto-winter has arrived, but it may lead to better things down the line:
SafeMoon burst on to the cryptocurrency market place earlier this year – and now the digital coin is seeing further gains.
Palantir's (NYSE: PLTR) stock price tumbled 9% on Tuesday after the data-mining firm posted its third-quarter earnings. The pullback was a bit surprising since its growth rates looked healthy and it offered rosy guidance for the full year.
The pair could first drop to $4,146.30 but if this support also gives way, the correction could reach the psychological support at $4,000.
Typically, meme coins don’t gain on fundamentals. Instead, they are usually driven by an internet-based joke.
Here are some cryptocurrencies that may be unworthy of a slot in your investment portfolio:
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.
In the case of cryptocurrencies, academia has barely scratched the surface with respect to identifying the determinants of their prices. For example, studies by Cheah and Fry (2015) and Corbet et al. (2018) claim that Bitcoin has no intrinsic value and that its price has persistently exhibited ‘bubble-like’ behaviour. Makarov and Schoar (2018) find that the prices of Bitcoin, Ethereum, and Ripple differ across exchanges for weeks. Outside of academia, the President of the United States recently tweeted that cryptocurrencies are based on “thin air”.1
Ripple (XRP) broke and closed above the overhead resistance at $1.24 on Nov. 8, signaling that bulls are attempting a comeback. The bears tried to pull the price back below $1.24 but failed to sustain the lower levels.
Cryptocurrencies use cryptographic protocols, or extremely complex code systems that encrypt sensitive data transfers, to secure their units of exchange.
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Voyager, a cryptocurrency brokerage platform, reached a 19-race deal to sponsor Cassill in the Xfinity Series in his JD Motorsports entry.
Buy Bitcoin, Ethereum, Cardano, Tezos, ChainLink, and more with USD. Link your bank account, add a debit card, or use wire transfer to buy and sell crypto instantly.
HAVANA (AP) — Cuba's government said Thursday it will recognize — and regulate — cryptocurrencies for payments on the island.