Cryptocurrency volatility is nothing new and you should feel comfortable if you decide to invest. The volatility can be attributed to an “immature market,” says Ollie Leech, editor of Coindesk, a cryptocurrency newsletter. Whether it’s a celebrity tweet or new federal regulations, anything can drive prices up. “If Elon Musk puts the Bitcoin hashtag in his Twitter bio, he sends Bitcoin with a 10% boost,” Leech explains.
This unpredictability is part of why investment experts warn against investing huge amounts of your portfolio in a risky asset like cryptocurrencies. Many recommend keeping your cryptocurrency holdings to less than 5% of your total portfolio. For new investors, daily fluctuations can seem scary. But if you’ve invested with a buy-and-hold strategy, dips are nothing to panic about, says Humphrey Yang, the personal finance expert behind Humphrey Talks. Yang recommends a simple solution: don’t look at your investment. “Don’t check it.It’s the best thing you can do. If you let your emotions get in the way too much, you could sell at the wrong time, make the wrong decision,” says Yang.
This is the traditional “set it and forget it” advice that many follow traditional long-term investors. on board and extreme dips continue to worry you, then you may not only have too much of your cryptocurrency investment spend in place, but also have a plan they can stick to,” says Douglas Boneparth, CFP and Chairman of Bone Fide Wealth.” While buying the dip can be attractive, especially with an asset you really like, it might not always be the best idea around. Other recent news on crypto, Walmart may be quietly entering the metaverse with the intention of producing and selling virtual goods and plans to create its own collection of cryptocurrency and NFTs, according to multiple applications filed with the Office a US Patent and Trademark Office last month.The retail giant is the latest commercial player to dabble in cryptocurrencies and the metaverse, which can potentially bring new revenue streams to retailers. Exchange Crypto.com suspended withdrawals on its platform last week after a “small” number of users reported “suspicious activity”.
The Singapore-based company made the announcement via Twitter, adding that all funds were safe. After several hours, the exchange released an update stating that users should log back into their accounts and reset two-factor authentication. Technical issues and widespread outages on cryptocurrency trading platforms are nothing new. Similar situations have occurred over the past year with cryptocurrency exchanges Coinbase, Binance, and Kraken. Rob Nichols, president of the American Bankers Association, a major U.banking trade group, said in a recent blog post that cryptocurrency is “not going away” and that banks are looking at ways to “introduce securely” and hold “the cryptographic service” responsible. for the customers.
This is further proof that crypto is becoming more mainstream among investors.But to be more public adoption of crypto, banks need “regulatory clarity”, said Nichols.non $ 400 million in digital products were stolen from North Korean hackers, according to a recently chain ratioThe Federal Trade Commission is warning consumers of a “new twist” on crypto scams. U. Consumer Protection Agency says scammers call people claiming to be from government, law enforcement, or a local utility company and trick people into sending them money through cryptocurrency ATMs .
The FTC’s warning comes amid an escalation in cryptocurrency crimes. In 2021 alone, scammers took $14 billion worth of cryptocurrencies, according to a recent report by blockchain data firm Chainalysis. PayPal may launch its own stablecoin as its footprint in the cryptocurrency industry grows, CoinDesk reported. A PayPal spokesperson told CoinDesk in an email to St