Cryptocurrency price LIVE Bitcoin CRASHES 10% and Shiba Inu coin plunges but Baby Doge up 71% as Solice price revealed
THE prices of several well-known cryptocurrencies NOSEDIVED this week, but Baby Doge has surged 71% as Solice hit $1.49.
Shiba Inu,Bitcoin, andEthereumhave all dipped by more than 10 percent in the last seven days, with Bitcoin sinking to its lowest level in over a month.
Bitcoin was down almost 12 percent over the last seven days as of 9:30am Friday morning, according to CoinBase.
At the same time, Shiba Inu was down almost 15 percent over seven days, and Ethereum was down about 14 percent, both according to CoinBase.
It comes as one finance expert thinks Bitcoin’s worth could tank as low $10,000 (7,400) per coin.
However, Goldman Sachspreviously suggested that Bitcoin could reach a staggering value of $100,000 (74,000) this year.
Read our cryptocurrency live blog for the latest news and updates…
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Trader on cryptocurrency losses, part two
The investor didnt give up on new coins and bought intoSHIBafter hearing rumors that it had been found inTeslas source code and would potentially be used as a payment option for the company.
The rumor turned out to be untrue, leaving the trader in the red again.
The third and last time was before the new coin Matic was announced. The trader said they bought up the coin too close to the announcement date.
Anyway, dont believe in rumours and hype, just stick to your usual crypto plan, the trader said.
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Trader details their cryptocurrency losses
An investor revealed online how theylost a fortuneafter buying cryptocurrency based on rumors three times.
The anonymous trader described the losses onReddit, saying their first loss on Cardano hurt the most.
Everything about the announcement seemed legit: Its not a sh**coin, Smart contracts are a thing and there was a lot of hype, the trader said.
The trader said as soon as Cardano went live, its price tanked leaving the trader at a huge loss.
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Why is Bitcoin bad for the environment?
The problem surrounds the amount of energy used to mine a singleBitcoin.
Computers are needed for complex mathematical calculations to put a new Bitcoin into circulation online.
This process is also known as mining.
A lot of energy is needed for Bitcoin mining and some experts are concerned that vast amounts of fossil fuels are being used to create this energy.
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What is the Metaverse? continued
Metas VR boss Andrew Bosworth said: Themetaverseis a set of virtual 3D spaces where you can share immersive experiences with each other when you cant be together.
What comes after the internet? Instead of looking at a screen, you get to be in the experiences.
You dont have to experience it in VR. Most people initially will experience it on screens they already have.
Facebooks Mark Zuckerberg called it the next version of the internet, and predicted the true metaverse will be ready within the decade.
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What is the Metaverse?
The Metaverse has abroad definition. It is an internet, but it is immersive so you live within it.
The platform will have games, social networks, videos, shopping, health and fitness and more.
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What are Altcoins, continued
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.
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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 cryptocurrencyrather than a currency itself, and there are more than 900 different altcoins available.
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Risks of investing in cryptos, part four
Another risk of investing are thecharges and fees.
Consumers should consider the impact of fees and charges on their investment which may be more than those for regulated investment products.
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Risks of investing in cryptos, part three
A third risk of investing in cryptocurrencies isproduct complexity.
The complexity of some products and services relating to cryptoassets can make it hard for consumers to understand the risks.
There is no guarantee that cryptoassets can be converted back into cash.
Converting a cryptoasset back to cash depends on demand and supply existing in the market.
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Risks of investing in cryptos, part two
Another risk of investing isprice volatility.
Significant price volatility in cryptoassets, combined with the inherent difficulties of valuing cryptoassets reliably, places consumers at a high risk of losses.
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Risks of investing in cryptocurrencies
Investing in cryptocurrencies means taking on a number of different risks.
The first isConsumer protection.
Some investments advertising high returns based on cryptoassets may not be subject to regulation beyond anti-money laundering requirements.
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The most valuable cryptocurrencies
Cryptocurrencyprices hit record highs earlier this year amid interest from high profile individuals such as Elon Musk and more institutional investment in the sector.
The most valuable coins areBitcoinandEthereumbut there are lots of alternatives or altcoins aiming to benefit from crypto interest.
Values can be volatile though and regulators have warned that investors could lose all their money.
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What is Hbar crypto?
Hashgraph is similar to a blockchain and was created in 2017 by American computer scientist Leemon Baird.
The Hedera Hashgraph system is a distributed ledger built on Hashgraph and was created by Baird along with Mance Harmon.
HBAR is the cryptocurrency of theHedera Hashgraph.
The company itself explains: HBAR is the native, energy-efficient cryptocurrency of the Hedera public network.
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Microstrategy spends $414 million on Bitcoin
The business intelligence company led by Michael Saylor revealed in a November 29 Securities and Exchange Commission filing that it bought 7,002 bitcoins between October 1 and November 29.
MicroStrategy reportedly spent $414million on the coins.
The company now has a reported stockpile of 121,044 bitcoin tokens.
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UK ASA cracks down on crypto
The United Kingdoms Advertising Standards Authority is placing an official ban on two mobile app advertisements from popular cryptocurrency platform Crypto.com.
The ASA flagged the material for breaching some financial watchdog rules, including not stating the risk potential of investment, abusing consumers lack of market understanding, and not specifying the limitations of purchasing crypto with credit cards.
The ASA advised Crypto.com that their future advertisements must be, sufficiently clear that the value of investments in cryptocurrency was variable and could go down as well as up and that cryptocurrency was unregulated.
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How to calculate tax bills with cryptocurrency
Becausecryptocurrencyis considered property, its subject to capital gains when exchanged or sold at a profit including exchanging digital coins, cashing out to US dollars, or making a purchase.
Form 1040, used to file an annual income tax return, has a question about virtual currency on the first page.
The Internal Revenue Code and regulations require taxpayers to maintain records that are sufficient to establish the positions taken on tax returns, it says on the IRS website. You should therefore maintain, for example, records documenting receipts, sales, exchanges, or other dispositions of virtual currency and the fair market value of the virtual currency.
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Fake websites and crypto
One fairly widespreadscamming techniqueinvolves websites that appear to be a new cryptocurrency mining operation or investment opportunity.
The sites encourage investors to wire in money, sometimes offering investment tiers and promising greater returns.
But when users attempt to withdraw their cash, they are unable to and told to input even morecryptocurrency.
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Crypto scammer caught in Spain
An unnamed scammer, supposedly Europes most wanted crypto scammer wasfound and arrestedby police in Spain on Saturday.
He has been charged with seven counts of fraud and money laundering.The scammer had assets worth over 2.5 million($2.83million) frozen by the authorities.
The man created a ponzi scheme as an online cryptocurrency investment platform that offered a minimum return of 2.5 per cent per week to investors depending on the contribution.
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Ohanian on Buterin, part three
Ive never been more excited about the potential of the Internet, Ohanianadded.
And thats largely thanks to Vitalik Buterin.
Buterin is the co-founder of Ethereum and also co-founded Bitcoin Magazine in 2011.
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Ohanian on Buterin, continued
No one person couldve possibly come up with all of the uses for Ethereum, but it did take one persons idea to get it started, Ohanian added about Buterin.
From there, a new world has opened up, and given rise to new ways of leveraging blockchain technologysome of which Ive invested in.
Whether its startups like Sorare reinventing fantasy sports or Rainbow users showing off their NFT collections, none of this wouldve existed without Vitaliks creation.
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Ohanian on Buterin
Thanks to Reddits r/Ethereum community, Ive had the privilege of following Vitalik Buterins career from early on, which is why Ive taken a certain pride in watching his legacy grow,Ohanian wrote of the programmer.
Sure, we can talk about the value hes created as the platforms co-founder, including Ethereums impressive market cap of around $400billion, the dazzling world of decentralized apps and this years boom in the trading of NFTs.
What makes Vitalik so special, though, is that he is a builders builder.
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Ethereum cofounder named Time influential person
One of the co-founders of Ethereum, Vitalik Buterin, was named one of Time magazines100 Most Influential People of 2021.
Former executive chair of RedditAlexis Ohanianpraised him in a write-up for the piece.
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Helium on the rise
Helium crypto price predictions have soared and may be the next cryptocurrency to explode in 2022.
Experts have predicted it will be a lucrative investment in the crypto space. as price predictions heated up before its big launch in 2021 because the network connects people through shared hot spots.
It was up over 9 percent in the past 7 days onCoinbaseas of Tuesday afternoon.
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Steven Seagals Bitcoin scandal
Under Siege and Half Past Dead hardmanSteven Seagalwas paid to promote Bitcoiin2Gen (B2G) which saw 500 investors left out of pocket in cash and other cryptocurrencies as he unwittingly ended up backing the scam.
Seagal reportedly had been offered $250,000 along with 750,000 worth of B2G for appearing in promotional materials for the con artists.
He appeared in a press release for them and wholeheartedly endorsed the scheme in a post to his 7million followers on Facebook.
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Shiba Inu Coin, continued
Whether youve already invested or not, keep in mind that making money through cryptocurrencies or other investments is never guaranteed, even with a popular one like Shiba Inu.
Cryptocurrencies are especially volatile, so their values can crash with little to no notice.
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