Cryptocurrency price news – Shiba Inu down today as Bitcoin up after Biden ‘executive order’ reported
SHIBA Inu is down today but Bitcoin is up after President Biden’s statement drawing attention to potential pitfalls of the currency such as ransomware and other cyber threats.
The statement from Joe Biden read: “Cyber threats can affect every American, every business regardless of size, and every community.
“That’s why my administration is marshalling a whole-of-nation effort to confront cyber threats.”
The White House also signaled that the US will gather 30 other countries, including NATO and G7 allies, to discuss responses to cybercrime.
“This month, the United States will bring together 30 countries to accelerate our cooperation in combatting cybercrime, improving law enforcement collaboration, stemming the illicit use of cryptocurrency, and engaging on these issues diplomatically,” it read.
Federal Reserve chair Jerome Powell also announced that there are no plans to ban cryptocurrency in the US, and prices soared 10 percent.
Read our cryptocurrency live blog for the latest news and updates…
NEW CRYPTOCURRENCIES IN 2021
EverGrow is expected to be the next cryptocurrency to explode in 2021.
With every transaction, it distributes eight per cent of the transaction to all token holders directly to their wallets.
The process is fully automatic and each holder will get a share in proportion to the amount of coins they own.
An additional one per cent is applied to all the sales to lower the volume of swing trading.
DOW JONES EXPERT ON TRADING CRYPTO ON WALL STREET
Some cryptocurrencies will be brought to the trading floors of Wall Street, Money Control reported.
“Traditional financial markets and digital assets are no longer mutually exclusive markets,” said Peter Roffman, global head of innovation and strategy at S&P Dow Jones Indices.
WHAT WILL MEASURE THE PERFORMANCE OF BITCOIN ON WALL STREET?
S&P Bitcoin Index, S&P Ethereum Index, and S&P Crypto Mega Cap Index will measure the performance of digital assets linked to them now that digital currencies including Bitcoin and Ethereum will be traded on Wall Street, according to Money Control.
COINBASE LETS USERS DEPOSIT PAYCHECKS INTO ONLINE ACCOUNTS
Coinbase will let users deposit their paychecks directly into their online accounts, according to CNBC.
“With direct deposit, customers can more easily access our crypto-first financial services and be ready for any trade or purchase,” Max Branzburg, vice president of product at Coinbase, revealed in a blog post.
“We’re determined to deliver the most trusted full suite of crypto-first financial services to our 68 million users.”
SWISS REGULATOR APPROVES FIRST CRYPTO FUND
Switzerland’s Financial Market Supervisory Authority has approved the first Swiss crypto fund, Bitcoin.com reported.
FINMA revealed the fund is called “Crypto Market Index Fund.”
It noted that it is “an investment fund according to Swiss law belonging to the category ‘other funds for alternative investments’ with particular risks.”
HOW HAS THE PRICE OF SHIBA INU CHANGED?
In the past month, Shiba has skyrocketed more than 300 percent.
Elon Musk, the billionaire entrepreneur behind Tesla has a Shibu Inu puppy and posted a picture of it on the social media site.
But what does the future has in store for the dog meme cryptocurrency?
The Sun spoke to experts to find out what lies ahead — and what the cryptocurrency could be worth in 2022.
Shibu Inu is a cryptocurrency token that allows users to hold trillions of them.
Tokens of Shiba Inu feature the same dog as Dogecoin, which has become one of the most popular cryptocurrencies this year.
WHEN WILL SHIBA INU RELEASE SHIBOSHI NFTs?
On October 5, 2021, the company announced it will release 10,000 digitalized “lovable creatures” for sale, 10,000 digitalized “lovable creatures.”
The post explained that the 10,000 digitalized “lovable creatures” will be set for sale 10,000 digitalized “lovable creatures.”
The company vowed to provide a “heads up” before the official launch.
WHAT ARE SHIBOSHI NFTs?
Shiboshi NFTs are non-fungible tokens representing various “lovable creatures.”
The NFT holders will also be able to name the Shiboshis for an additional $100.
The Shiboshis will come with generic names like 00001.
The post states: “It’s important to name your Shiboshi because names are unique and can only exist once in the Shib Oshiverse.
“With the expansions, we are planning, this could potentially make your Shiboshi more valuable.”
WHAT ARE ALTCOINS?
Altcoin stands for alternative coin, a type of virtual currency that uses the so-called blockchain to allow secure transactions.
Altcoin is a category of cryptocurrency rather than a currency itself, and there are more than 900 different altcoins available.
Simon Peters, crypto-asset analyst at eToro, said: “They build on the success of bitcoin by slightly changing the rules, economics or use cases to appeal to different users.”
“Altcoins vary greatly in their use cases and practical application. They typically have a form of technology they underpin or provide a liquidity solution to a product or service.”
WHAT IS BITCOIN?
Bitcoin was established in 2009 by an unknown computer expert using the alias Satoshi Nakamoto.
The cryptocurrency uses a mining procedure that involves a computer solving a difficult mathematical problem with a 64-digit solution.
For each problem solved, one block of Bitcoin is processed. In addition, the miner is rewarded with new Bitcoin.
But the reason why it gets criticism from environmentalists is that Bitcoin currently uses roughly 99.10terawatt-hours annually, according to the Cambridge Center for Alternative Finance.
Currently, are about 21million Bitcoin tokens in existence.
CAN BITCOIN HIT $70,000, CONTINUED
A year from now, Wallet Investor sees the price of Bitcoin surpassing $86,000.
In five years, the price is expected to skyrocket to $209,033.
Meanwhile, Economy Watch predicts the price of Bitcoin will return to its heights in April of $64,000 at the end of the year.
Then, at the beginning of 2022, Economy Watch notes Bitcoin will “be heading towards the $70,000 mark.”
CAN BITCOIN HIT $70,000?
To reach $70,000, Bitcoin would have to climb by 23 percent in the remaining days of the year.
And the way things are trending, Bitcoin might break $70,000 at the end of the year.
At the end of 2021, Coin Price Forecast sees the price surging to $79,576. By mid-2023, it is expected to hit $71,386.
WHAT ARE THE RISKS OF INVESTING IN BITCOIN?
Although the returns have been favorable in the past year – a potential investment can turn out poorly if bought too high.
But then the billionaire caused a big sell-off on Bitcoin when he said Tesla would stop accepting payments of the cryptocurrency.
Although Musk has said he thinks there’s a future with Bitcoin and Tesla, he has expressed environmental concerns over the cryptocurrency.
Since April 13, Bitcoin has dropped 10 percent to date.
HOW MUCH HAS THE VALUE OF BITCOIN CHANGED, CONTINUED
“We believe the turnaround in sentiment towards bitcoin is due to constructive statements from SEC Chair Gary Gensler, potentially allowing a Bitcoin ETF in the US,” digital assets fund manager CoinShares wrote in a report on Monday.
“Our recent survey data also highlights greater institutional participation in the asset class.”
But keep in mind that September wasn’t the greatest month for Bitcoin.
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.
WHAT IS LITECOIN?
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.
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.
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.
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.
On Robinhood, you can do limit orders, which are only executed at your specific limit price or cheaper.
Users can also buy or sell cryptocurrencies at fractional amounts, meaning they don’t buy a full coin, and place orders on their watch lists.
You can see the estimated buy or sell price for a cryptocurrency online or through the app.
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.
Unlike many discounted brokers, the company does not offer individual retirement accounts.
The bulk of Robinhood’s revenue comes from order flow.
HOW TO BUY SHIBOSHI NFTs
Shiba Inu explained that initially, the NFTs will only be available through the subdomain ShibaSwap, where users will be able to trade, make offers, and buy.
The company said buying and trading will be “completely free (except for the gas fee).”
Users will only be able to purchase them using LEASH in the first 24 hours.
After that time period, ETH purchases will also be available.
The first 3,000 Shiboshis will cost 0.1 ETH but must be purchased in LEASH.
The next 5,000 will cost 0.2 ETH, and the final will be for 0.3 ETH.
Each wallet can buy a maximum of 10 NFTs.
POSITIVES OF ADOPTING BITCOIN
Maggie Wu, the CEO of blockchain venture capital firm Krypital Group, says challenges in Bitcoin adoption do exist, however told Forbes she’s optimistic about its future.
“I believe that Bitcoin adoption is conceivable, especially in the relatively small developing countries with inadequate monetary systems where the recognition of digital currencies there is relatively high,” she said.
“The blockchain-related infrastructure that can carry digital currencies in most Central and South American countries and regions is not complete, including wallets, exchanges, etc. This is also the direction of our investment focus.”
“We think there is huge potential and value here for fostering crypto adoption throughout the region.”
WHAT IS LOGAN PAUL’S CRYPTOZOO PROJECT?
Logan Paul has described his new project, Cryptozoo, as an autonomous ecosystem where zoo owners can breed, collect, and trade exotic hybrid animals as NFTs (non-fungible tokens).
Cryptozoo claims that it will allow its users to make hybrid NFT animals that can yield tokens and in return, yield them profit.
Users can use the crytocurrency’s native token, $ZOO, and wETH to purchase “NFT eggs” needed for breeding new animals, which would be considered the NFts.
Paul says he and his team have invested $1million to ensure its success.
Crypto commentator Jonathan Marriott said NFTs provide a legitimate way of verifying ownership and tracking the origins of an item.
He said: “An NFT lets you record where and when something is made and track the whole process to verify that it is legitimate.
“The public blockchain element makes it irrefutable. No-one can fake it.”