- 15:30 ET, Nov 19 2021
- Updated: 15:30 ET, Nov 19 2021
FEARS for Bitcoin are mounting after the cryptocurrency plunged 20 percent from its all-time highs.
The warnings about Bitcoin come as experts warn that Shiba Inu could also be in danger after the cryptocurrency lost 50 percent in value in the past three weeks.
Its price dropped to as low as $0.00004251 on November 19, according to .
An independent market analyst told the publication that the ongoing price correction is a “topping signal.”
It comes as President Joe Biden signed a sweeping infrastructure bill into law that includes cryptocurrency tax regulations.
Read our cryptocurrency live blog for the latest news and updates…
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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.
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WILL SHIBA INU’S PRICE RISE, CONTINUED
In May, the value of Shiba Inu soared after Binance announced it would list the coins on the crypto platform.
Its value also rose in September, after it began trading on Coinbase.
It means the price could rise once again if it’s successful in listing on other recognized platforms such as eToro.
However, as we’ve seen in recent months, cryptocurrencies are highly volatile and their values can change in the blink of an eye.
Myron Jobson, personal finance campaigner of Interactive Investor, previously told The Sun: “It is difficult to predict the price of a something that has an intrinsic value of zero.”
“All it takes is a tweet from high-profile individuals who have significant influence on sentiment to cryptos to drive up demand.”
“But greater regulatory scrutiny on cryptos threatens to hamper the growth potential of the Shiba Inu.”
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WILL SHIBA INU’S PRICE RISE?
For Shiba in particular, there has been a fair share of volatility this year despite the surge in the past month.
For example, up until October 28, the token hit its last record high of $0.00003641 on May 11.
It’s difficult to predict how Shiba Inu’s price will change in future, due to a wide number of factors affecting it.
This includes regulatory crackdowns around the world, comments by high profile individuals such as Musk, and other developments.
For Shiba in particular, there has been a fair share of volatility this year despite the surge in the past month.
For example, up until October 28, the token hit its last record high of $0.00003641 on May 11.
It’s difficult to predict how Shiba Inu’s price will change in future, due to a wide number of factors affecting it.
This includes regulatory crackdowns around the world, comments by high profile individuals such as Musk, and other developments.
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CAN SHIBA IBU HIT $1?
Shiba Inu has soared in value recently, hitting several new all-time highs.
On November 12, 2021, cryptocurrency exchange CoinDCX listed Shiba Inu on its mobile trading app.
Up until then, it was only available on the platform in trade-only mode on CoinDCX Pro.
Shiba Inu being traded on CoinDCX follows the company announcing it is the first cryptocurrency firm in India to reach a valuation of over $1billion, giving it unicorn status.
On October 28, Shiba hit an all-time high of $0.00008845.
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WALGREENS TO OFFER COINSTAR KIOSKS
“Coinstar, in partnership with CoinMe, has launched a pilot that allows its customers to use cash to purchase Bitcoin,” a Walmart spokesperson told CBS MoneyWatch.
“There are 200 Coinstar kiosks located inside Walmart stores across the United States that are part of this pilot.”
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CRYPTO FANS TRY TO PREDICT SOLANA’S VALUE
Solana’s price could hit $427 by the year’s end, according to a prediction by website Coin Price Forecast.
Wallet Investor has a lower one-year forecast of $681.868 and a five-year forecast of $2,424.10.
Meanwhile, according to Finder’s panel of 50 fintech specialists, the price of Solana could hit $1,178 by the end of 2025 and then surge to $5,057 in 2030.
“We think that SOL is one of a few smart contract based blockchains that have the technical architecture that will be difficult for Ethereum to compete with on the basis of transaction speed and transaction cost,” crypto hedge fund general partner Gavin Smith said.
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SOME CRYPTO SCAMS USE DATING APPS TO TARGET VICTIMS
Some cryptocurrency scam operations have started using dating apps to reel in potential targets.
In some reports, scammers would pose as a long-distance love interest sharing a hot new cryptocurrency opportunity.
About 20 percent of the money reportedly lost through dating scams in around the last year involved cryptocurrency.
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SOLANA SEES OUTRAGEOUS MARKET SURGE
The cryptocurrency, Solana, is up a whopping 17,000 percent this year and is now the fifth-largest cryptocurrency on the market.
Solana is a form of cryptocurrency that allows business leaders to trade, lend and borrow currency quickly and efficiently.
It is a less expensive and more efficient form of Ethereum, which requires those who use it to solve a complex puzzle before validating a transaction.
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WHAT ARE THE MOST VALUABLE COINS?
Cryptocurrency prices 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 are Bitcoin and Ethereum but 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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RISKS OF ROBINHOOD, PART THREE
In July, the platform was 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.
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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.
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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.
