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Exchanges Long & Short in 5 min

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BTC Dominance 58% Nov 24, 2024

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BTC Updates Today Nov 22, 2024

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BTC/USDT Support: $92,000 and $85,000 Resistance: $100,000 BTC made a daily close at $98,000 and continues to rally, following the bullish structure of a bull flag. In a significant development, SEC Chair Gary Gensler has submitted his resignation, and there is an upcoming vote on December 10th by the Microsoft board to potentially invest in Bitcoin. The BTC rally has pushed prices to a new high of $99,400, edging closer to the historic $100,000 mark. A break beyond six figures would mark a monumental milestone, but be cautious of heightened sell pressure and profit-taking, which could lead to a retracement toward the support levels of $92,000 and $85,000. BTC dominance has started to decline, and a break below 59% would create an ideal environment for altcoins to rally, signaling a potential shift in market dynamics.

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Avoiding scammers in the cryptocurrency space requires vigilance and adhering to best practices. Here are key tips: 1. Use Reputable Platforms Only trade on well-known and established exchanges. Verify that the platform is secure (look for HTTPS and reviews). 2. Protect Your Private Keys Never share your private keys or seed phrases with anyone. Store them offline in a secure place, like a hardware wallet. 3. Beware of Phishing Scams Avoid clicking on links from unsolicited emails or messages. Double-check URLs of websites to ensure they’re legitimate. 4. Verify Offers and Projects Be cautious of investment schemes promising guaranteed returns. Research new coins or tokens thoroughly before investing. 5. Avoid Social Media Scams Ignore messages from strangers offering free crypto or investment opportunities. Verify the identities of people or companies claiming to represent legitimate projects. 6. Use Two-Factor Authentication (2FA) Enable 2FA on all accounts to add an extra layer of security. 7. Stay Updated Educate yourself about common scams and evolving threats. Follow updates from trusted cryptocurrency forums and communities. 8. Confirm Transactions Double-check recipient addresses before sending funds. Use small test transactions for large payments to ensure accuracy. By staying informed and cautious, you can significantly reduce the risk of falling victim to scams in cryptocurrency transactions.

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Cryptocurrency is a digital or virtual form of currency that uses cryptography for security. It operates on decentralized networks based on blockchain technology, which is a distributed ledger that records transactions across many computers. Key features include: Decentralization: No central authority (like a bank) controls it. Anonymity: Transactions can be semi-anonymous. Security: Cryptography secures the network. Transparency: Transactions are publicly recorded on the blockchain. Popular cryptocurrencies include Bitcoin, Ethereum, and Litecoin. Cryptocurrencies are used for online transactions, investments, and as a store of value, though they are often subject to high price volatility. $XRP

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