“Don’t check on it. That’s 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.
If you’re a Robinhood user, you should definitely be changing your password and make sure it’s a unique one.
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The program offers the following benefits and is limited to personal account owners on the platform:
And while the cryptocurrency has since dipped slightly on Tuesday afternoon, it is still up by a whopping 350% on Bitcoin’s price at 7 November 2020 after nearing the new $70,000 threshold.
Before coming to POLITICO, Caitlin worked on the social desk for ABC News’ D.C. Bureau, where she used social media to monitor coverage areas, curated images and videos for broadcasts, pitched and reported out stories and collaborated on breaking news.
In the meantime, if you’re looking to invest in alternative cryptocurrencies, then we’d recommend eToro. eToro is one of the world’s largest online brokers and has over 20 million users globally. What’s more, eToro is regulated by the FCA, ASIC, and CySEC, allowing you to trade safely.
New short-term investors who are selling their holdings in reaction to the drop may be influencing the continued dip in Bitcoin’s value, according to a recent report from Glassnode Insights, a blockchain analysis firm.
Yield farming involves lending cryptocurrency in exchange for interest payments and other rewards - but it comes with a high degree of risk.
“I know these things are super volatile, like some days they can go down 80%,” Humphrey Yang, the personal finance expert behind Humphrey Talks, previously told NextAdvisor. “But if you believe in the long-term potential of [Bitcoin], just don’t check on it. That’s the best thing you can do.”
Metals fund manager laments ‘zero interest in our strategy’ while bitcoin hits new record
If you’re a Robinhood user, you should definitely be changing your password and make sure it’s a unique one.
But one of these sessions caused SafeMoon’s price to plummet by more than 50 per cent.
“It’s easy to get carried away, but such aggressive growth is highly unlikely to continue forever.”
Mr Karkhalev added: "The growth in the capitalisation of the Bitcoin crypto market has also aided confidence.