Just like you shouldn’t let a price drop influence your decision to buy crypto, don’t let a sudden price increase alter your long-term investment strategy. Even more importantly, don’t start buying more crypto just because the price is rising. Always make sure your financial bases are covered — from your retirement accounts to emergency savings — before putting any extra cash into a speculative asset like Bitcoin.
Very generously our tweeter credits another crypto fanatic for the remarkable analysis, who had drawn up his own chart just days earlier:
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Perhaps a bit odd, then, to decide to chart crypto prices against US Covid cases rather than global cases, given crypto is traded globally.
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"Over the past week, Ethereum scored another all-time high and Binance Coin traded strongly in the greens," it added. "Solana surpassed Tether and Cardano to be the fourth largest crypto."
SafeMoon V2 involves the launch of an upgraded contract that has a change to the coin’s consolidation formula. Consolidation is a DeFi feature that the SafeMoon teams likens to reverse stock splits with the added idea that it will be beneficial for investors. It is a way for the team to “tidy up the numbers” without changing the actual ownership percentages among investors.
Even though the current downside move is sure to shock some investors, slight corrections after reaching new all-time highs are a customary practice for Bitcoin.
"It is one of many schemes by which naïve retail investors are drawn in and exploited by malevolent crypto promoters," Cornell University economist Eswar Prasad told the BBC.
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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.
But whatever new products are produced, they will now have a harder time struggling with acceptance. Whether we like it or not, message and image are important.
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Given the pace of crypto adoption, there are a number of ways to buy cryptocurrency. Crypto-native exchanges offer a plethora of different digital assets for buying and selling. In the mainstream world, PayPal serves as one example platform on which participants can buy and sell certain digital assets. Crypto ATMs such as Bitcoin ATMs also exist in various parts of the world.
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Regulatory announcements can also affect the price of cryptocurrency in already volatile markets. Market volatility is why investing experts recommend keeping any cryptocurrency investments to less than 5% of your total portfolio and never invest anything you’re not OK with losing.
CYNTHIA LUMMIS: My son-in-law has a shirt that says friends don't let friends sell bitcoin. And that is my investment strategy for bitcoin.
The new team, called Twitter Crypto, is aimed at being the center of excellence for "all things blockchain and web3," Financial Times reported.