This is the longest ever sequence in which the lead crypto has closed out each week at a lower price than the week before.
Today, Bitcoin held its head above $31,000 and was trading at about 5% more than the day before.
Crypto investors who’ve seen the value of their portfolios drop significantly this year are eagerly watching for an end to this period of depressed prices.
The lead crypto only began trading in 2010, so we have a pretty limited amount of data we can use to draw trends.
Indeed, some analysts predict Bitcoin could sink to $22,000 or lower given the high inflation and possibility of a recession.
Even if you think Bitcoin might perform well in the coming five, 10, or 20 years, you still need to be prepared for the worst.
In fact, you’ve probably used this company’s technology in the past few days, even if you’ve never had an account or even heard of the company before.
In terms of your financial situation, the key question is this: Are your other financial bases covered? That means having an emergency fund that can see you through three to six months’ worth of living expenses, being on top of your retirement contributions, and having some spare cash you can afford to lose.
The investment firm cites its potential to take market share in a number of areas, such as global remittances and acting as an emerging market currency.
What matters is that you do your own research and aren’t blinded to the risks by stories of huge potential gains.
The cryptocurrency apps that landed on our shortlist include perks such as $0 commissions, and one pick that is offering a $50 bitcoin bonus.
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