Ethereum has increased by 1.8 percent to $4,806. Like Bitcoin, over the last week, Ethereum too has surged more than 10 percent.
Currently, the global crypto market cap stands at $2.87 trillion, an increase of 4.70%. Other cryptocurrencies were also trading in the green.
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Cryptocurrencies’ supply and value are controlled by the activities of their users and highly complex protocols built into their governing codes, not the conscious decisions of central banks or other regulatory authorities.
Li, Q. L., J.-Y. Ma, and Y. X. Chang (2018), “Blockchain queue theory”, in International Conference on Computational Social Networks, 25–40. Springer.
A blockchain is spread across many computers that manages and records transactions.
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Dow, at the time, simply could not come up with a good reason for the crypto’s insane performance. The only logical explanation: It’s a bubble. His views were especially prescient. He told Bloomberg this month that he made a profit twice due to this canny call.
The worldwide crypto market capitalization is currently $2.90 trillion, decreasing 1.25% over the last day. (Shutterstock)
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It seems all too fitting that Facebook’s plans to launch a digital coin were leaked in the second-to-last week of a year that saw the tech giant’s reputation pummeled and cryptocurrencies crash and burn. It’s like grilling a shit sandwich over a dumpster fire.
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JPMorgan CEO Jamie Dimon, for instance, made multiple comments throughout the year expressing his general antipathy for cryptocurrency. Dimon’s thoughts could most easily be summed with this quote: “I don’t really give a shit about bitcoin.” Warren Buffett also didn’t have kind words–calling it “probably rat poison squared”–which almost certainly sent a clear message to curious investors.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. Cryptos feed Dogecoin price provides perfect buy opportunity for a 50% breakout
Overall, Coinmarketcap estimates the global crypto market has shrunk around 10% in the past 24 hours.
But how high will Bitcoin go? Bitcoin’s past may provide some clues, according to Kiana Danial, author of “Cryptocurrency Investing for Dummies.”