“Squid Game Dev does not want to continue running the project,” the developers wrote on their Telegram channel Monday, saying they were “depressed” by scammers and “overwhelmed with stress.”
Were bears in SafeMoon able to defend the baseline of the triangle at $0.00000233, expect a break of the triangle’s bottom and a break down of price, quickly towards $0.00000103. SafeMoon bears will try to retrace the rally from the bulls entirely and possibly even try to break below it.
.
Between Oct. 26 and Monday, the value of a Squid coin rose by more than 23 million percent, from a little more than a mere cent to $2,861.80.
Cheah, E. T. and J. Fry (2015), “Speculative bubbles in Bitcoin markets? An empirical investigation into the fundamental value of Bitcoin”, Economics Letters 130, 32–36.
Nevertheless, a decisive four-hour candlestick close below the $3,922 level could lead to a steeper correction. Ethereum could then dive to look for support around the 100 four-hour moving average at $3,700 or even test the 200 four-hour moving average at $3,400.
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China announced in September that all cryptocurrency transactions in the country are illegal, effectively putting the brakes on any crypto-related activities within Chinese borders. In the U.S., things are less clear. Federal Reserve Chair Jerome Powell said recently that he has “no intention” of banning cryptocurrency in the U.S while Security and Exchange Commission Chairman Gary Gensler has consistently commented on both his own agency’s and the Commodity Futures Trading Commission’s role in policing the industry.
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All forms of investment and trading involve risk, including the possibility of losing the entirety of your invested capital. Such activities are not suitable for everyone and should only be carried out by individuals who understand and accept the associated risk factors.
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Binance, the original platform, despite its many outages in recent months, stands out from its U.S. counterpart. The range of cryptocurrencies, features, and ease of use far out does Binance.US. Many hope that the number of faults and outages will reduce going forward.
Ricardo Salinas Pliego, a magnate with large operations in retail, banking and television who has been seen as President Andrés Manuel López Obrador’s closest business ally, wrote in his social media accounts Sunday that Bitcoin is a good investment.
The fast-food giant is creating non-fungible tokens in celebration of the McRib sandwich’s 40th anniversary.
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A look at funding rates across exchanges hints at excessive optimism, with traders going long on BTC en masse — a classic indicator of a correction.
The above prices are as of 12.30.pm IST on October 26 (Data courtesy: coinmarketcap.com).