Crypto has a history of rewarding long-term investors who have conviction in its world-changing potential. On the other hand, it tends to punish investors with “weak hands”—those looking to make a quick buck who can’t or won’t stay invested through volatile periods.
That’s why Rule No. 1 in crypto is: Embrace the volatility. Throughout history, early-stage assets have gone through huge booms and busts. The first 120 years of the U.S. stock ...
Keep an eye on the miners.
There are few asset classes as volatile as cryptocurrencies.
What should investors do now?
After the latest price implosion, cryptocurrencies look ready to take off again.
“People are keen to spend the money that they have saved during the pandemic on travel.”
Exactly 12 months ago today, inflation was running at only 1.1%, oil was still under $50 per barrel and Bitcoin was trading at $18,260. Virtually no one had been vaccinated against COVID-19, and even fewer people had ever heard of the word omicron – let alone knew that it is a letter in the Greek alphabet.
It’s December 2021, and the Turkish lira is near an all-time low against the U.S. dollar as President Recep Erdoğan continues to implement what The Wall Street Journal calls “unconventional economic policies.” Turkish households saw the value of the national currency plunge nearly 30% last month alone, making everything from food to fuel significantly more expensive for already-struggling families.
Bitcoin and Ethereum are the leaders of the cryptocurrency asset class. As of November 5, the overall asset class had a $2.696 trillion market cap. 13,669 different cryptos make up the total value, but Bitcoin and Ethereum account for 62.4% as Bitcoin was worth around $1.152 trillion, and Ethereum had an over $528.25 billion market cap.
Amazon.com Inc (Nasdaq: AMZN) has denied a media report on Monday that the e-commerce giant was planning to accept bitcoin payments by the end of 2021.
The report from London’s City A.M. newspaper, a publication distributed for free on the London Underground, cited an unnamed “insider,” who also claimed Amazon had plans to eventually develop its own cryptocurrency.
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