The cryptocurrency market woke up to a shock in early trading on Thursday morning. On the Binance US cryptocurrency exchange, the value of Bitcoin (BTC) plummeted nearly 87 percent in value, settling around $8,200. The issue that caused the value spike was reportedly corrected swiftly and the Bitcoin value returned to its normal levels within a couple of minutes.
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Finally, the 4JNET team does not hold any 4JNET tokens. The funds raised from the presale will go towards advertising on social media platforms like Facebook, Twitter, YouTube, and KOLs in the industry.
The first thing to note is that Safemoon is not currently listed on any major cryptocurrency exchanges such as Binance or Coinbase. Due to this, the amount of liquidity is relatively low, meaning that technical analysis isn’t as accurate as digital coins with high liquidity. The low liquidity of Safemoon means that large buy orders tend to boost price significantly – which, in turn, leads more people to buy into the ‘hype’.
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Any close below the 50% Fibonacci ratio could trigger increased selling pressure for Safemoon price. The 161.8% Fibonacci expansion sits right on top of the 2021 Volume Point Of Control at $0.0000026 and above Senkou Span B at $0.0000024. If SafeMoon price can maintain support near the 50% Fibonacci retracement, the most likely scenario is a consolidative market.
Community Focused and fair launch. The dev team burned all of their tokens and participated with everyone else.
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Safemoon is a token on the Binance Smart Chain rather than a coin on its own blockchain. This fact makes purchasing Safemoon very easy. You can swap other tokens for Safemoon on a decentralized exchange (DEX) like PancakeSwap on the BSC.
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Luke Martin, a well-known cryptocurrency trader, described the price trend of SafeMoon as "unSAFEMOON" after it dropped 65% in a short period on April 22.
While leverage will magnify your profits, it also brings the risk of amplified losses – including losses that can exceed your margin on an individual trade. Leveraged trading therefore makes it extremely important to learn how to manage your risk.
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