It comes after the cryptocurrency dipped by approximately after surging to $67,700 in late October as traders appeared to pull back in anticipation of another price pump.
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The price of Loopring has risen over 400 per cent since the initial rumors began to spread.
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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If the price rebounds off the current level, the bulls will again try to propel the DOGE/USDT pair above $0.30. If they can pull it off, the pair could challenge the overhead resistance at $0.34. A break and close above this level will signal that bulls have the upper hand.
Bitcoin’s surge to $69,000 took bears by surprise and cemented bulls expected $400 million profit at Friday’s $1.2 billion options expiry.
Additionally, EverGrow intends to launch Staking Pools or RBLOs (Reflection-Backed Liquidity Offerings). By using an innovative set of smart contracts for Staking Pools, EverGrow will be transferring liquidity to their Partnered Tokens by buying them on specific contract interactions. The purchased tokens are then distributed amongst participants of the Pool. This concept gives EGC token a sustainable utility in which staking X token to earn Y token makes economic and mathematical sense.
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Unlike other cryptocurrencies, SafeMoon claims it will reward people who buy its token and hold on to it rather than trade - for which there are penalties in place.
SafeMoon was created by Karony and two of his fellow developers from TANO, a Provo, Utah-based video game studio with a bare-bones website. It launched in March with a big social media push, including a giveaway of 100 billion tokens (then trading for less than $0.00000001 each) for “lucky winners” who followed @safemoon, liked and retweeted then tagged three friends.
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We also consider two additional factors that account for the finding that in some periods prices drift away from fundamentals. The first factor is the return of Bitcoin. We argue that Bitcoin, being the largest and most traded cryptocurrency, is the most perceptible to sentiment and speculative trading by investors. Thus, as a factor, it can capture periods when trading forces unrelated to fundamentals are the strongest. The second factor is a cryptocurrency price momentum factor that we construct following the seminal work of Jegadeesh and Titman (1993). Momentum effects have been linked to investor psychology (e.g. Barberis et al. 1998).
Both moving averages are sloping up and the relative strength index (RSI) is near the overbought territory, indicating that bulls are in control.