It appears the coin became widely recognised on Twitter and many of its posts have thousands of likes by cryptocurrency watchers.
Overall, it appears from these results that cryptocurrencies may experience short term intervals of co-movement, caused by sector wide news or cross market contagion, though correlation is likely to change dependent on the nature of the causal event and market environment. In the medium and longer term Bitcoin and Litecoin are strongly related; it is believed this is due to their similarity.
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Bitcoin prices have surged 50% this month, from just under $44,000 at the end of September. Bitcoin is currently trading at almost $60,000.
For example, crypto website Wallet Investor expects a value of up to $0.000018 in a year’s time.
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.
This question does not have a plain vanilla answer in ‘yes’ or ‘no’, as the government and the central bank still look unsure as to how to deal with this new-age phenomenon. In 2018, The Reserve Bank of India (RBI) came out strongly and kind of banned these tokens in India. Then in 2020, the Supreme Court of India reversed the RBI ban. That move was welcomed by the crypto exchanges and investors throughout the country. After this, Indian banks have tried to curtail transactions with crypto-exchanges as, in their view, they are governed by RBI. But later, RBI mentioned that banks cannot quote its 2018 ban to customers as it was overruled by the Supreme Court, paving the way for crypto trading to continue in India.
SHIB is down about 25% over the past week and this might due to general fear that one of the largest holders is moving coins. Jefferies’ Chris Wood Boosts Bitcoin (BTC) Exposure to 10%, Trims Gold
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The most valuable coins are Bitcoin and Ethereum but there are lots of alternatives or altcoins aiming to benefit from crypto interest.
Signal vs noise is so important. Most people focus on the noise in investing and miss the signal.
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The long term positive coherence relationship observed between online metrics and price may be the result of another factor which we hypothesise could be technical progress. As a project makes technical progress, it is likely to have a community form around it over time, increasing online activity and also demand, and hence price, of the particular cryptocurrency. An interesting avenue of future work would be to consider the coherence between price and technical progress (via looking at each projects source code repository—these are available as cryptocurrency projects are generally open-source).
“Ethereum is struggling a bit right now under the amount of its network activity. Gas fees can vary drastically and there’s competition now with other blockchains that offer lower transaction costs,” said Matta.
Steering clear of the first mayor support level at $60,388, however, Bitcoin revisited $61,300 levels before easing back.
‘Wrapped’ XRP is coming to the Ethereum (ETH) blockchain Oluwapelumi Adejumo · 2 days ago · 2 min read
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