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SafeMoon at the time of publishing was trading at $$0.00000397 and is down -3.6% in the 24-hours day trade. Saitama Kitty Spikes 155% on the First Day of its Launch, Doubles Investors Money in 24-Hours Elon Musk Offloads More Than $1.1 Billion in Teslaâs Stock After Controversial Twitter Poll This Country Has the Highest Number of Crypto Investors, Breached the 100 Million Investors Mark
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Potential investors looking to buy the dip should understand that fluctuations are par for the course, and be prepared for this kind of volatility going forward. Even if you invest now, with prices relatively low, be prepared for them to fall even more. Again, only put in what youâre comfortable with losing â after youâve covered other financial priorities, like emergency savings and more traditional retirement funds.
How tech beyond Wall Street's control pushed big money to embrace once-fringe crowds, from crypto to meme stocks
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The market has been quite bullish on Bitcoin. Despite more than 13,000 cryptocurrencies listed on CoinMarketCap, Bitcoin remains the dominant digital currency.
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.
"Nowadays new coins can be listed on decentralised exchanges on the first day they are created, without any regulation or due diligence," said Jinnan Ouyang from Singapore-based crypto company Openmining.
Ricardo Salinas Pliego, a magnate with large operations in retail, banking and television who has been seen as President AndrĂ©s Manuel LĂłpez Obradorâs closest business ally, wrote in his social media accounts Sunday that Bitcoin is a good investment.
"With more participants in Bitcoin, there is perhaps less volatility, which is in turn attracting more institutional investors and further promoting the stability of the popular cryptocurrency.â
Bitcoin wasnât the only cryptocurrency to feel the initial effects, with most of the top 10 all experiencing dips in value.
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In many ways, 2021 has been a âbreakthrough,â says Dave Abner, head of global development at Gemini, a popular cryptocurrency exchange. âThereâs tremendous focus and attention being paid to [the crypto industry].â
(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)