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KOHENOOR KEN
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Bitcoin has broken its major($63.6K) and minor($62.5K) support levels and is currently trading below $62.5K. It may mean collapse coming ahead. Don't panic unless $60.9K is the support. After that you are allowed to be scared to blow up your portfolios and get the hell out of markets for a few weeks. Futuristic fellows should hedge and DCA full duplex. Mark caution as the major sell orders are in line. Liquidity is a major concern as well because no fresh inflows have been seen around at all and finally, Whales are trying to snatch every last penny you've got. Suggestions: DCA if you can for long periods or you can leave the markets flying away with your capitals for some funny holidays 😜

Bitcoin has broken its major($63.6K) and minor($62.5K) support levels and is currently trading below $62.5K. It may mean collapse coming ahead. Don't panic unless $60.9K is the support. After that you are allowed to be scared to blow up your portfolios and get the hell out of markets for a few weeks.

Futuristic fellows should hedge and DCA full duplex.

Mark caution as the major sell orders are in line. Liquidity is a major concern as well because no fresh inflows have been seen around at all and finally, Whales are trying to snatch every last penny you've got.

Suggestions: DCA if you can for long periods or you can leave the markets flying away with your capitals for some funny holidays 😜

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There is confusion regarding cryptocurrencies and whether trading them is permissible in Islamic Shariah or not! We are a Mudharba based company and have access to multiple sources for getting the most authentic verdicts and research oriented opinions of scholars. References may be provided if someone needs. Based on that we respond to the two basic queries as follows: 1. Blockchain based Cryptocurrencies with DeFi as the base model to govern them is thoroughly permissible in Islam. Like all technologies, it is the use that defines the ends and not the technology itself. The decentralized model is rather preferred by Islam. There are dozens of verdicts (فتاویٰ) available on web including one from the Senior Saudi Jurist that cryptocurrencies as well as trading them in spot, with or without a broker, is permissible. 2. Trading in the spot markets is permissible whereas on leverage, the opinions are slightly different. The popular opinion rejects trading in margins and futures declaring both prohibited based on the ground that the two violate the fundamental principles. One is the principle of ownership prior to selling and the other is of course Riba-free trading. The less popular opinion upholds that the rules of the game in cryptocurrencies differ from stock exchanges and money markets. The rules that are applied to fiats cannot be applied to digital assets. As long as the interest (Riba) is not explicitly involved in financing for margins and futures, none can declare such trading as prohibited. The group of jurists upholds spot trading but dislikes margins and futures instead of tagging them as prohibited. #Islamic
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