BITCOIN plummeted on Wednesday even as Shiba Inu saw gains, and Ethereum and Solana also saw drops in value in what could be a sign of traders “hedging their bets.”
Bitcoin fell from a 24 hour high of $63,064 to $58,500 Wednesday morning, according to The Scotsman.
Ethereum, Ripple, Solana, and Cardano are also all trading down, the outlet reported.
However, Shiba Inu saw a nearly 40 percent price surge on Wednesday morning.
“The Bitcoin dip could be a sign of traders pulling back from new all-time highs for the cryptocurrency and hedging their bets as market analysts project that Bitcoin could reach a landmark $100,000 threshold in the near future,” the outlet suggested.
Meanwhile, the CEO of AMC said the company may issue its own coin, and plans to accept Bitcoin payments for movie tickets by the end of the year.
Payment options for the theater expanded in September, and now include Bitcoin Cash (BCH), Ether (ETH), and Litecoin (LTC). In October, the company added Dogecoin (DOGE) to the crypto payment options.
Read our cryptocurrency live blog for the latest news and updates…
-
WHAT IS NUCYPHER? CONTINUED
This allows users to share private data with a number of others in a secure way.
Holders of its token NU can stake their tokens through the network to run a node, which is responsible for creating and sending information.
Interestingly, NuCypher token is an ERC-20, which means it is built on Ethereum.
-
WHAT IS NUCYPHER?
NuCypher was founded by Michael Egorov MacLane Wilkison in 2015, but it wasn’t until 2019 when the public testnet for NuCypher’s network launched.
NuCypher specifically operates as a decentralized key management system that uses blockchain technology.
-
NUCYPHER
On October 15, NuCypher at one point exploded more than 1,100% to hit a new all-time high of $3.5819.
The gains cooled off a bit, but the cryptocurrency was still up 400% at $1.52, according to CoinMarketCap.
-
RISKS OF ROBINHOOD, PART THREE
In July, the platform was also ordered to pay nearly $70million in fines and compensation for misleading customers and outages.
If you are seeking a discount broker and are looking to open an IRA account, you can check out the following platforms: Vanguard, Fidelity, TD Ameritrade, Merrill Edge, among others.
-
RISKS OF ROBINHOOD, PART TWO
For investing individual stocks, make sure you check company reports, Securities and Exchange Commission (SEC) filings, broker notes, and press releases so you can make the best decisions for your money.
Another risk when choosing Robinhood along with other brokers is that they can restrict trading when there’s unusual activity.
In fact, Robinhood faced some outrage earlier this year when it restricted trading on meme stocks including GameStop and AMC.
-
RISKS OF ROBINHOOD
When it comes to risks, investing alone is one because you’re not guaranteed to generate a profit and the value of your assets could fall.
If you’re choosing Robinhood so you can trade stocks and cryptocurrencies – then the game gets even riskier.
Cryptocurrencies are not only difficult to understand but even tougher to predict when bearish trends in the market will take place.
For example, cryptocurrency was thriving this year up until Elon Musk said that Tesla was halting the acceptance of payments in Bitcoin.
Since then, the crypto spaced has endured volatility.
-
WHAT IS ROBINHOOD? CONTINUED
Unlike many discounted brokers, the company does not offer individual retirement accounts.
The bulk of Robinhood’s revenue comes from order flow.
-
WHAT IS ROBINHOOD?
The Robinhood platform operates as a discounted brokerage that offers commission-free trading.
Specifically, users can trade exchange-traded funds (ETFs), individual stocks (including American depositary shares), and options.
You can also trade Robinhood’s stock thanks to the company recently going public at a $1.2billion valuation.
-
SOLANA SCALABILITY, CONTINUED
Myron Jobson, personal finance campaigner at Interactive Investor, told The Sun: “The collection of 10,000 artworks reported sold out in under 10 minutes. Each piece was ‘minted’ using the SOL token.”
He added that “there’s a sentiment among crypto evangelist that Solana has strengthened its status as credible challenger to Ethereum as the blockchain of choice for building decentralized applications.”
-
‘MILESTONE SCABILITY TEST’
Solana is on the rise following a “milestone scalability test” last month.
It hosted the “Degenerate Ape Academy”, a collection of digital artworks (NFT) on Solanart, a marketplace on the Solana network.
-
CRYPTO AUDIO STREAMING, CONTINUED
According to Audius, over 5.3million people have used the platform this month.
Audio has been listed on CoinMarketCap since October 2020, and has rocketed in value following a deal with Chinese-owned social media giant TikTok.
-
CRYPTO AUDIO STREAMING
Audius is a crypto-powered music streaming platform.
It’s owned and controlled by token holders – and tokens are called Audio.
-
NEW CRYPTOCURRENCIES RELEASED IN 2021 (part 4)
Red Shiba is a BSC token available on PancakeSwap.
It is described as “a token of the Red universe, it aims to strengthen the ecosystem that the Red Team is designing, a universe without Rug, Fair-play and beneficial to all fans of memes tokens”.
It was inspired by the highly successful Shiba Inu Token.
-
NEW CRYPTOCURRENCIES RELEASED IN 2021 (part 3)
Landshare coin premiered on August 2, 2021.
It was initially priced just over £2.60, rising to £4.10 on August 14.
The market cap is now more than £1million.
Landshare is a DeFi platform on the Binance Smart Chain.
It offers a hassle-free alternative to traditional real estate investments.
-
NEW CRYPTOCURRENCIES RELEASED IN 2021 (part 2)
As their website states: “Orica is built for first-time cryptocurrency users.
“Orica is built for those who have a personal appreciation for creativity and are on the lookout for great art.”
The current CoinMarketCap ranking is #4186.
-
NEW CRYPTOCURRENCIES RELEASED IN 2021
BitClout is an open-source cryptocurrency project and social media platform.
Users are able to buy and sell “creator coins” – based on their reputation.
For example, when they do something positive, the coin gains value.
When the coin hit the market in June, it started trading at £129 but this plunged to £50 in August.
-
COULD BITCOIN REPLACE THE DOLLAR?
Bitcoin could be poised to overtake the dollar by 2030 as the world’s reserve currency, some experts in the soaring cryptocurrency believe.
The digital money hit its all-time high against the US dollar on Wednesday when a single Bitcoin was trading for nearly $67,000.
Leading lights in the Bitcoin community say it is not far from overtaking the value of all the silver in the world and will “easily” have over a billion users within the next five years.
With national currencies currently being devalued by central banks through money printing and Bitcoin’s inbuilt cap of 21 million coins, they argue we may be on the cusp of “hyperbitcoinization”.
-
HOW MUCH HAS THE VALUE OF BITCOIN CHANGED?
Bitcoin has jumped 26 percent in the past month.
Some of gains can be attributed to Gary Gensler, chair of the US Securities and Exchange Commission, repeating his support for Bitcoin exchange-traded funds (ETFs).
Instead of buying Bitcoin directly, the move means you invest in futures contracts.
-
LITECOIN VS. BITCOIN, CONTINUED
Like most cryptocurrencies, Litecoin uses blockchain technology for processing and recording transactions.
While Litecoin is smaller, it is a quicker and cheaper alternative when compared to Bitcoin.
-
LITECOIN VS. BITCOIN
Litecoin, which was established in 2011 by Google engineer Charlie Lee, operates similarly to Bitcoin.
Mr Lee on occasions refers to Litecoin as the “silver to Bitcoin’s gold.”
The two cryptocurrencies act similarly in how their global payment operations are set up. Both are not controlled by financial institutions.
-
WILL LITECOIN HIT $500? CONTINUED
Odds are this helped give Litecoin a boost as well.
In 12 months’ time, the price of Litecoin could exceed $255, according to Wallet Investor.
But near the end of 2026, Wallet Investor sees Litecoin exceeding $557.
-
WILL LITECOIN HIT $500?
Litecoin exploded to $412.96 in early – the closest it has ever gotten to the $500 mark.
Now, however, Litecoin trades at $194.31.
While China has banned all cryptocurrency transactions, big brother Bitcoin has gained on recent favorable news coming from the U.S.
-
WHAT IS LITECOIN?
As the name indicates, the cryptocurrency is small.
But Litecoin, which was established in 2011 by Google engineer Charlie Lee, operates similarly to Bitcoin.
Mr Lee on occasions refers to Litecoin as the “silver to Bitcoin’s gold.”
The two cryptocurrencies act similarly in how their global payment operations are set up. Both are not controlled by financial institutions.
-
DIGITAL WALLET, CONTINUED
As with other cryptocurrencies, people will be able to buy and sell libras on exchanges for traditional currencies.
Facebook said that its alternative currency paves the way for smoother transactions and payments online.
The project however faced regulatory resistance over concerns about security and reliability.
In December 2020, Libra changed its name to Diem and moved its operations from Switzerland to the US as part of a “strategic shift.”
-
WHAT IS A DIGITAL WALLET?
A digital wallet is a gadget or piece of software that securely stores users’ payment information and passwords for numerous payment methods.
They allow users to store cryptocurrencies, make online or in-store purchases, and track their finances.
In 2019 Facebook said it plans to introduce a cryptocurrency that at the time was called Libra.
The tecg titan said it wanted to create a separate, private currency system to allow users to make cross-border payments more easily.