Category Archives: Cryptocurrency
Cryptocurrency takes off in Yellow Springs, gives back to community – WDTN.com
YELLOW SPRINGS, Ohio (WDTN) A new form of cryptocurrency has entered the market in Yellow Springs and has taken off.
Carma Coin is a type of cryptocurrency developed on the premise of charitable donations.
Its not a matter of if, its a matter of when cryptocurrency takes over, says Brad Butcher, founder and CEO of Carma Coin by day, and traveling poker player by night.
Brad and his brother David got the idea to make their own cryptocurrency after investing in others. Using $800,000 they made on those investments, they launched Carma Coin on May 29, 2021.
Easiest way to explain it were kind of like a baseball card. People are buying into Carma Coin for what it can be more than what it is now, says Scott Morin, Carma Coins Chief Operations Officer.
Scott says it took off almost immediately after launching.
Carma Coin launched with a 90-day plan to market in Dayton and then leave Dayton and go to the crypto-community. And it became a nine hour plan, describes Scott.
The team works out of an office inside Coactive in Yellow Springs.
One of the things that really helped us succeed in the beginning was the personal aspect. Everybody knew Brad. Everybody knew David. Everyday believed in Brad and David. And thats what they bought into, says Scott.
That initially drove up volume with more than 12,000 holders to date.
Their mission is one of giving back.
In the two months Carma Coin has been active, theyve given away six cars.
The sense of joy that you feel from these people when theyre picking up their new vehicle its better than anything that you could ever imagine, smiles Brad. Im giving away super cars to try to make dreams come true. Its just who we are and what were about. Its what my father instilled in me and my little brother when we were growing up.
They say to be eligible for the car giveaway, you dont have to own Carma Coin, you only have to register on the website.
Theyve already planned another big car giveaway in September.
Theyve also given roughly $200,000 to organizations and causes the team believes in.
Mental Health America was definitely huge for me. I struggle with anxiety, admits Brad.
The moment with Carma Coin that resonates the most for me is calling my friend Matt the one that got a working dog from Working Dogs for Vets and letting him know were going to donate $25,000 to that organization, and he started crying on the phone because thats the largest donation theyve ever gotten, recalls Scott.
To own Carma Coin, you have to have a wallet like Trust Wallet or MetaMask. Click here for a guide on how to buy Carma Coin.
Theres a 10 percent transaction fee for every buy or sell with Carma Coin. Three percent of that goes toward the car giveaways and charitable donations.
There is no gimmick. This is who we are. Any person that knows me thats what I do I give, says Brad. I find it amazing that what I am doing is so magical that it is literally unbelievable.
I get a lot of those you know when you guys going to rug-pull us? When you guys going to steal all of the liquidity? For one, we cannot steal the liquidity because its locked until May of 2023. So that means we cant access it until then, says Scott.
As their volume goes up and as they get more holders, they say thats how they eventually make money.
To learn more about Carma Coin, click here.
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Cryptocurrency takes off in Yellow Springs, gives back to community - WDTN.com
Top 50 Cryptocurrency Prices, Coin Market Cap, Price …
Top 50 Cryptocurrency Prices, Coin Market Cap, Price Charts And Historical Data | Crypto.com
#
PRICE
24H CHANGE
24 VOLUME
MARKET CAP
$32,182.58
-0.37%
$2,017.74
-0.46%
$1.00
+0.18%
$283.91
-3.53%
$1.15
-3.18%
$1.00
-0.01%
$0.582316
-2.11%
$0.186333
-2.68%
$12.56
-4.67%
$1.00
+0.02%
$17.28
-1.19%
$436.33
-1.18%
$118.36
-2.08%
$26.65
-4.30%
$15.37
-4.09%
$32,197.00
-0.33%
$0.253695
-3.46%
$43.85
+0.99%
$0.875227
-2.45%
$1.00
+0.00%
$4.59
-2.98%
$32.39
-5.97%
$0.065140
-4.33%
$45.32
-1.21%
$0.054270
-1.60%
$196.14
-2.15%
$273.03
-1.67%
$3.48
-2.03%
$7.07
-3.96%
$0.109741
-0.16%
$28.33
-1.60%
$2.76
+8.76%
$12.92
-1.28%
$0.000006
-4.13%
$0.774217
-1.24%
$10.89
-4.84%
$2,411.19
-2.07%
$32,261.18
+0.04%
$0.939340
-1.50%
$122.90
-0.66%
$2.55
+2.77%
$391.16
-3.08%
$0.049583
+17.43%
$1.00
+0.01%
$28.31
-3.44%
$30.29
+21.99%
$10.61
-2.46%
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Top 50 Cryptocurrency Prices, Coin Market Cap, Price ...
Thomas Peterffy says he owns some cryptocurrency because ‘you have to play the odds’ – CNBC
Online brokerage pioneer Thomas Peterffy told CNBC on Wednesday he's invested in cryptocurrencies, while still expressing skepticism over the long-term future of the digital asset class.
"Even I myself have put a little bit of money into crypto, because even though chances are, I think, that this is not going to be a viable market, I think that there's a small chance that this will be a dominant currency, so you have to play the odds," the billionaire founder and chairman ofInteractive Brokers said on "Closing Bell." He did not specify which cryptocurrency or cryptocurrencies he owns.
The remarks come as Interactive Brokers prepares to launch cryptocurrency trading by the end of summer, a move seen as noteworthy due to the e-broker's reputation for serving more sophisticated clients.
Peterffy has previously been skeptical of bitcoin, the world's largest cryptocurrency by market value, at previous points, particularly in 2017 as the CME prepared to launch bitcoin futures.
At that time, Peterffy told CNBC he had no problem with people who wanted to trade bitcoin and other cryptocurrencies, but he warned of "linking bitcoin and other cryptocurrencies by federal regulations to the real economy."
Regarding Interactive Brokers' upcoming launch of crypto trading, Peterffy said "several of our clients expressed an interest" in being able to invest in the digital assets. "And I completely understand it," he said.
Many in the crypto community see bitcoin as a long-term store of value and express optimism about its ability, along with blockchain-based digital assets, to disrupt the traditional financial system.Jack Dorsey, the billionaire CEO of Twitter and fintech firm Square, said earlier Wednesday he hopes bitcoin "helps create world peace."
Bitcoin was up nearly 7% Wednesday afternoon, trading around $31,800 per token. The historically volatile cryptocurrency traded as high as $32,765 on the day, according to Coin Metrics. The move higher came one day after bitcoin fell below $30,000 for the first time since June 22.
Bitcoin remains down about 50% from its all-time high near $65,000 in mid-April, around the time of cryptocurrency exchange Coinbase's public markets debut.
Further adoption of bitcoin by high-profile investors and institutions was seen as one reason for bitcoin's massive rally that began last year and peaked in April. While bitcoin is slightly positive year to date, at this point in 2020, it traded below $10,000 per token.
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Thomas Peterffy says he owns some cryptocurrency because 'you have to play the odds' - CNBC
Update On Planning For Bitcoin And Other Cryptocurrency – Forbes
So, who will be watching you?
A virtual currency guidance and advisory issued by the U.S. Treasury Departments anti-money laundering (AML) unit on June 30, 2021 clarified regulatory expectations, riled some cryptocurrency players and signaled a potential new global standard for combating financial crime.
The statement added that the guidance does not establish any new regulatory expectations and consolidates current FinCEN regulations, guidance and administrative rulings. FinCEN has broad international reach to any business doing substantive business with U.S. persons and therefore international businesses need to be paying attention if they source cryptocurrency from U.S. exchanges or interact with U.S. consumers.
Any time FinCEN issues an advisory, compliance officers in both banks and virtual currency companies will spend a fair amount of time over the next few days reviewing the advisory in the context of their businesses and customers.Concerns include another round of bank account closures, not because customers are engaging in illegal activity, but because compliance officers and managers lack an understanding of the technology underlying cryptocurrencies as the easy way out rather than invest the time and effort to learn more about the space.
Although owners of blockchain based investments most commonly hold cryptocurrency, blockchain technology is expanding into non-currency areas.In both, however, there are risks mainly because 1) estate planners and family members are ill-informed about the presence and nature of blockchain assets, 2) clients fail to realize that wills and trusts must have specific language to allow Personal Representatives and Trustees to manage those assets after incapacity or death, and 3) the regulatory environment, taxation, reporting, application if intestacy laws and other issues have yet to be resolved.
Traditional planning entities also have a hard time owning cryptocurrency, especially if there is a fiduciary duty owed to beneficiaries to prudently invest assets. Without specific language, a trust or other entity will not be able to hold cryptocurrency, but if that language is written too broadly, the fiduciary may be exempt from damages due to willful neglect. Also, cryptocurrency is treated as property rather than as currency by tax authorities for tax purposes meaning that the fair market value is set by conversion into the taxing authoritys currently, that is U.S. dollars for the IRS, at a reasonable exchange rate and transactions involving cryptocurrency are subject to the capital gains tax regulations. This can result in the cryptocurrency being taxed at one value in one country and another value in another country.
On top of all this, care needs to be taken to preserve the benefits of cryptocurrency. Cryptocurrency is highly secure, but that security is in jeopardy if the private key or seed phrase is carelessly recorded.With the right private key or seed phrase, anyone can access the cryptocurrency, so planning and procedures have to include how to secure this information. Like cash, cryptocurrency is not traceable. There is no electronic or paper trail linking the parties together in a transaction involving cryptocurrency.To preserve that privacy, you will need to plan that other documentation in the transaction does not reveal these identities, or at least that information is privileged. Shorter transfer delay and lower costs.Unlike hard currency, transferring cryptocurrency takes only moments and there are few, if any, transfer costs.
So, what to do? First, educate your estate planner and family about any blockchain based assets, especially cryptocurrency, you own. If the value of those assets exceeds $10,000, and the assets are in custody with a fiduciary or institution that is offshore Make sure that you are also reporting that investment annually and that the custodian that holds the assets has the capacity to invest the time and effort required to comply with the myriad changes as they occur.
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Update On Planning For Bitcoin And Other Cryptocurrency - Forbes
Revealed: the people who signed up to the Magacoin Trump cryptocurrency – The Guardian
More than 1,000 people have so far signed up to the pro-Trump cryptocurrency magacoin, including conservative media personalities and Republican figures, the Guardian can reveal.
The news comes after poor security configuration in a website associated with magacoin exposed the email addresses, passwords, cryptocurrency wallet addresses and IP addresses of users who have bought in to what its promoters describe as the digital currency for the MAGA community.
The data also reveals that the lions share of the cryptocurrency so far produced has been allocated to the self-described creator of magacoin, a pro-Trump consultant who owns an LLC associated with the cryptocurrency, and a Super Pac associated with the same consultant.
The information, provided to the Guardian by a self-described hacktivist, unveils the reality around the cryptocurrency whose creators say it is made by America First Conservatives out of frustration with Losing the Election and a desire to fight back by supporting MAGA candidates.
The vast majority of those sign-ups have only 100 magacoins, the amount offered free in initial publicity to early sign-ups who can claim their share of 75 million MAGACOINS. The website, echoing widespread rightwing falsehoods about the 2020 election result, says it chose that number to represent the 75 million voters who were disenfranchised on November 3rd, 2020.
Other users, however, have greater holdings, and at least some of them may have taken advantage of the cryptocurrencys Ambassador Program, in which promoters are offering 1,000 free magacoins to approved radio hosts, media personalities, bloggers and grassroots groups who sign up to help promote the currency to their audience.
One account with 1,500 magacoins is associated with the email address of the rightwing broadcaster John Rush, whose Rush To Reason program airs on Denvers KXL conservative talk station.
Rush recently played host on his program to Marc Zelinka, whose Littleton, Colorado-based used car company, Carmart Inc, applied in April for a trademark for magacoin. Zelinka also administers the magacoin Facebook page, and is credited in conservative social media and on Rushs show as the creator of magacoin.
Another email address is associated with the Youth Federalist Initiative, a Colorado Republican party-associated effort at youth engagement. The email suggests that the cryptocurrency is in the possession of Evan Underwood, a Colorado Republican activist, podcaster and chair of the Colorado Federation of College Republicans.
Magacoin has been connected in reporting by the Daily Dot with a North Carolina-based Trumpist political operative, Reilly ONeal, who is the principal of a North Carolina LLC, Magacoin Inc, which was registered last April.
In a telephone conversation, Zelinka, the self-described creator of the cryptocurrency, said that I dont control it any more, and that he had passed the cryptocurrency project entirely to ONeal.
The Guardian has discovered more extensive connections between ONeal and the cryptocurrency.
Last month, a Super Pac called Magacoin Victory Fund was registered with the Federal Election Commission. The Super Pacs main mailing address is a post office box in Raleigh, North Carolina, which is also associated with several other ONeal-controlled companies and political entities.
According to North Carolina state records, other companies headquartered at the PO box and solely controlled by ONeal include Rightside Lists LLC and Mustard Seed Media LLC part owner of Big League Politics.
On magacoins front page and in promotional emails it announces that 10 Million MAGACOINS have been donated to the MAGACOIN Victory Fund, a SuperPAC created to support MAGA candidates across the country who will fight for individual rights, religious liberty, protecting the unborn, the 2nd amendment, freedom of speech and the entire America First Agenda.
The records reflect this gift, with 10 million magacoins associated with an email hosted at the domain of ONeals political consultancy, Tidewater Strategies. Another Tidewater email address is associated with holdings of just over 2m magacoins.
Another 2m magacoins are associated with Zelinkas phone number and an old email address of Zelinkas which alludes to his used car dealing.
Previously, ONeal worked on several North Carolina and national political campaigns, including the campaign of the pro-Trump former judge and accused paedophile Roy Moore.
His political consultancy, Tidewater Strategies, received large sums from mostly Trumpist Republican candidates in the last election cycle, many of whom failed to win office.
ONeal also reportedly has a stake in the far-right conspiracy-minded website Big League Politics (BLP) through another of his companies, Mustard Seed Media.
That publications editor, Patrick Howley, was discredited on the witness stand in the trial of leftwing activists about whom Howley and others fomented conspiracy theories, in order to shift blame from James Fields after he murdered Heather Heyer after the Unite the Right rally in Charlottesville.
BLP recently ran a major story on magacoin, promising that the cryptocurrency would create an ecosystem where pro-Trump individuals can support pro-Trump businesses and candidates without using a financial instrument that benefits the globalists.
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Revealed: the people who signed up to the Magacoin Trump cryptocurrency - The Guardian
Ethereum price rises after Elon Musk confirms he owns the cryptocurrency – CNBC
The price of ethereum rose Wednesday afternoon after Tesla and SpaceX CEO Elon Musk said he owns the cryptocurrency at The B Word conference, an event hosted by the Crypto Council for Innovation.
Ethereum, which was already rallying on the day, touched its high of the session after Musk's mention. It was last up more than 12% and near the highs of the day.
Musk also repeated his support for cryptocurrency in general, despite potential environmental risks, saying, "One thing you do need to watch out for with crypto, especially bitcoin, using proof of work, using energy that's a bit too much and not necessarily good for the environment."
As bitcoin mining is increasingly powered by renewable energy,Musk said, Tesla will likely move to accept bitcoin for transactions once again.
Musk also said that at this time, the only publicly traded stock he owns is Tesla's, and that he personally owns some bitcoin, dogecoin and ethereum. "The only significant thing I own outside ofTeslais SpaceX," he noted, having helped create both companies.
He also said he has been holding his bitcoin long term.
"If the price of bitcoin goes down I lose money. I might pump but I don't dump," Musk said. "I definitely do not believe in getting the price high and selling or anything like that. I would like to see bitcoin succeed."
Musk also confirmed that both Tesla and SpaceX own bitcoin, and no other cryptocurrency at this time.
The B Word conference was established to "demystify," "de-stigmatize" and "correct the mainstream narrative" around the cryptocurrency bitcoin and promote its institutional acceptance and use.
Musk spoke on a panel alongside Jack Dorsey, CEO of payments company Square and Musk's favorite social media platform Twitter, along with Ark Invest founder and CEO Cathie Wood, who answered questions from moderator and Square Crypto lead Steve Lee.
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Ethereum price rises after Elon Musk confirms he owns the cryptocurrency - CNBC
Cryptocurrency Prices Today on July 20: Bitcoin, Ethereum in red, Polkadot plunges over 9% – Moneycontrol.com
Cryptocurrency Prices on July 20: Bitcoin's price is currently $31,413.42 and its dominance is currently 46.79 percent, an increase of 0.63 percent over the day
July 20, 2021 / 07:45 AM IST
Cryptocurrency prices continued to be in the red on July 20. The global cryptocurrency market capwas $1.23 trillion, a 4.34 percent decrease over thepreviousday, while the total crypto market volume over the last 24 hourswas $57.25 billion, which makes a 16.38 percent increase.
The volume of all stable coins was $47.23 billion 82.49 percent of the total crypto market 24-hour volume. Bitcoin's price was $31,413.42 and its dominance is currently 46.79 percent, an increase of 0.63 percent over the day.
Days after Ethereum co-founder Jackson Palmer slammed the cryptocurrency industry in a series of tweets, another crypto entrepreneur and co-founder of Ethereum Anthony Di lorio has said that he is quitting the industry. The reason? Partially due topersonal safety concernsamong other things, Bloomberg reported.
The 48-year-old Canadian has had a security team since 2017. Di lorio said the crypto industry has a risk profile I am not too enthused about, adding: I dont feel necessarily safe in this space. If I was focused on larger problems, I think Id be safer.
A Cryptocurrency that merges the worlds of blockchain and real estate is here – Livemint
A breakthrough crypto-coin called FOHO Coin that converges the worlds of Blockchain, Real Estate and Technology is here. FOHO aims to build a blockchain-based transparent and trust- incentivizing system. FOHO is on a mission to democratize the real estate space. The platform uses the wisdom of crowds to uncover deals, while holding sellers, sponsors, organisers, realtors, lenders and other market participants accountable. The ecosystem is based on fractional sharing of real estate rentals and experiences with fractional ownership of residential and commercial real estate coming soon. The 4 pillars of the FOHO Ecosystem include FOHO Coin, FOHO Haus, FOHO Work, and FOHO Club. FOHO participants can now access world- class properties at a fraction of the price.
FOHO Haus is a blockchain-based residential real estate marketplace wherein people can buy and sell fractions of residential property. FOHO Work is like FOHO Haus with the only difference being, while FOHO Haus is involved with residential properties, FOHO Work deals with commercial properties like office spaces, warehouses, plantations etc. It enables people to own fractional commercial real estate assets through cryptocurrency. FOHO Club is where people come together to share usage of an asset or experience. Lastly, FOHO Coin is a utility token and enables participation in the FOHO ecosystem. Jason Fernandes, a renowned personality in the crypto space and a member of the FOHO advisory board says FOHO is to the crypto space, what Uber is to the car-rentals industry. FOHO is enabling the fractional real estate ecosystem of the future and FOHO Coin is the first step to entering this shared economy."
FOHO Holdings is promoted by globally successful companies Tangential and the Tripvillas Group. Tangentia has been part of the Profit 500 list of the fastest growing companies in Canada for 6 years in a row and Tangentia America, the US arm of the company has been listed on the INC 5000 fastest growing companies in the USA. Tripvillas Group is one of Asias largest holiday homes rental companies headquartered in Singapore. Given their extensive experience that spans over 20 years as well as their well-demonstrated potential, Tangentia and Tripvillas are well-equipped to launch and develop FOHO Coin.
FOHO Coin provides the foundation of the FOHO sharing economy. It is, as the founders describe, the Lifeblood of the FOHO Ecosystem. FOHO is well poised to draw on the expertise of its founders and the businesses they control. FOHO also has a dream team advisory board that includes prominent figures from the fintech, crypto and marketing space.
Jason Fernandes is an entrepreneur, speaker, well-known blockchain industry figure and advisor to FOHO Coin. He founded FinTech media outlet TokenJay.com, internet portal ZeoCities.com and co-invented the worlds first Internet-based DVR, RecordTV. Fernandes has featured in international outlets like the BBC, LA Times, Associated Press, MTV, Channel NewsAsia, and national outlets like India Today, ZeeTV and the Times of India.
Chandan Kumar has been a professional financial markets trader for over 15 years and runs an algorithmic trading consultancy. He is a consultant with Bitbns - one of the largest crypto exchanges in the world.
Floyd Tavares is an award-winning marketer. He co-founded Dranding Consulting and is an MBA in marketing with over 10 years of experience in building brands; both online and on-ground. He was recently voted Iconic Hospitality Marketer by Times Hospitality Icons and also is the recipient of the Most Influential Young Leader by the World Marketing Congress. Dranding Consulting has successfully transformed many brands in the Gaming, Hospitality, Technology, Education & Engineering space.
With a strong backing and advisory board, FOHO Coin, which will run on the Ethereum blockchain, is set to launch soon on the Ascent, by Bitbns Launchpad. While already making waves, it is set to democratize real estate ownership and usage worldwide.
Disclaimer: This is a company press release. No HT journalist is involved in the creation of this content.
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A Cryptocurrency that merges the worlds of blockchain and real estate is here - Livemint
Why is crypto down today? Cryptocurrency market crash – price of Bitcoin, Ethereum, Cardano and XRP explained – The Scotsman
Cryptocurrency market is down 7.13% in the last 24 hours (20 July).
After a year of gains and record highs, crypto currencies are enduring a turbulent time with unpredictable price changes.
Bitcoin and other leading crypto coins experienced a significant drop in share price after investors began dumping mining equipment as China announced fresh regulations.
Bitcoin (BTC) was down -5.18% at 10.40am on 20 July, followed by Ethereum (ETH) -7.17%, Tether (USDT) +0.49%, Binance Coin (BNB) -11.66%, Cardano (ADA) -10.77%, XRP (XRP) -8.18%, Dogecoin (DOGE) -7.33%, Polkadot (DOT) -13.32%, Uniswap (UNI) -10.09%, Bitcoin Cash (BCH) -10.49%, Litecoin -10.32%.
It follows recent crashes brought on by Tesla making a u-turn on accepting Bitcoin as payment for its products and China clamping down on initial coin offerings, block exchanges and warned against speculative trading.
A further blow was dealt when China ordered Bitcoin mining in its Sichuan province to shut down completely and furthermore told banks to stop supporting crypto transactions, in a latest wave of restrictions on cryptos.
Why is the crypto market down?
Chinas crackdown on cryptos comes days after Musks shock announcement.
Musks decision signifies a sharp u-turn for Tesla who only started accepting Bitcoin as payment for its services in February 2021.
It came after the electric car company bought $1.5b (1.06b) of Bitcoin shares, which in turn sent the market price of both the crypto and Tesla soaring.
The billionaire entrepreneur said: We are concerned about rapidly increasing use of fossil fuel for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.
Musk reaffirmed his belief that cryptocurrency has a promising future but that it cannot come at great cost to the environment, in his Twitter post.
Musk has been a long-time advocate of cryptocurrencies and the Tesla decision was felt across the market, with other digital tokens going down in price.
What is the price of Bitcoin and Ethereum?
The price of Bitcoin was 21,719.56 after the latest drop in prices (20 July), according to Coinbase.
In the last 24 hours, Ethereum had dropped to a value of 1,270.81.
Cryptocurrencies are seen as an alternative to traditional banking methods, cheaper to move money around due to not being regulated by the government or its banks.
The decision by Tesla, and announced by Musk, was seen by some as a slight on the credibility of cryptos to become a viable method of payment against physical currencies.
Which crypto prices are down?
Bitcoin wasnt the only cryptocurrency to feel the initial effects, with the rest of the top 10 all experiencing dips in value.
Dogecoin, which was initially set up as a joke in 2012 before seeing its shares skyrocket, has faced the worst of it with significant double digit drops due to Chinas crackdown.
Musks influence cannot be underestimated as, even though the likes of PayPal, Mastercard and Facebook have backed cryptos, the Tesla announcement still rocked the market.
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Why is crypto down today? Cryptocurrency market crash - price of Bitcoin, Ethereum, Cardano and XRP explained - The Scotsman
This Week in Crypto: Bitcoin Swings, the Fed Talks U.S. Crypto Regulation, Square Goes In on DeFi, and More – NextAdvisor
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Crypto caught international attention this week as the United States Federal Reserve Chair made statements on possible regulation and the Italian government banned a popular cryptocurrency exchange.
Heres a rundown of this weeks big crypto news:
At the same time, the price of Bitcoin experienced its usual swings this week, falling from a high of about $34,463 to around $31,108, according to Coindesk.
Bitcoin is the largest cryptocurrency by market cap, and a good indicator of the crypto market in general, since other coins like Ethereum (and smaller altcoins) tend to follow its trends. While an almost 10% decrease in value would be notable for normal investments, its a normal swing for Bitcoin, which saw more than a 50% decrease in value in past months. Thats not to say a 10% fall is anything to take lightly, and this is also why investing experts recommend only investing in crypto whatever youre OK with losing.
The cryptocurrency space is still very new, and everything from innovation to regulation can have outsize impact for investors. Heres how you can invest smartly, regardless of whats making news or Bitcoins price swings.
Cryptocurrency volatility is nothing new, and you should be comfortable with this if you decide to invest.
Volatility can be attributed to an immature market, says Ollie Leech, learn editor at Coindesk, a cryptocurrency news outlet. Anything from a celebrity tweet to new federal regulation can send prices spiraling.
If Elon Musk puts hashtag Bitcoin in his Twitter bio, it sends Bitcoin up 10%, says Leech.
This unpredictability is part of the reason why investing experts warn against investing huge amounts of your portfolio into a risky asset like crypto. Many recommend keeping your crypto holdings to less than 5% of your total portfolio.
For new investors, day-to-day swings can seem frightening. But if youve invested with a buy-and-hold strategy, dips are nothing to panic about, says Huymphrey Yang the personal finance expert behind Humphrey Talks. Yang recommends a simple solution: dont look at your investment.
Dont check on it. Thats the best thing you can do. If you let your emotions get too much into it then you might sell at the wrong time, make the wrong decision, says Yang.
This is the traditional set it and forget it advice that many traditional long-term investors follow. If you cant get on board, and the extreme dips continue to cause you worry, then you might have too much riding on your cryptocurrency investments.
Excerpt from:
This Week in Crypto: Bitcoin Swings, the Fed Talks U.S. Crypto Regulation, Square Goes In on DeFi, and More - NextAdvisor