Why Bitcoin, Ethereum, and Dogecoin Are All Down Big Last November 11,2021

After weeks of almost continuous good news for the cryptocurrency industry, we are seeing a widespread sell-off today. Big cryptocurrencies are down, altcoins are down, and even meme coins are having a rough day. In the last 24 hours, Bitcoin (CRYPTO:BTC) is down 5%, Ethereum (CRYPTO:ETH) is down 1.3% after being down as much as 8%, and Dogecoin (CRYPTO:DOGE) has fallen 2.4% as of 1 p.m. EST. Very few cryptocurrencies are trading higher today and some are down nearly 10% in the last 24 hours. Higher inflation in theory will lead to higher interest rates and investors looking for ways to hedge inflation and higher rates. As a store of value, Bitcoin, in particular, wasseen as a potential place for investors to put money if inflation picks up. That’s why it was up yesterday, but the trend has reversed course today. 

Cryptocurrencies have been on a quick run higher over the past month. Bitcoin and Ethereum, in particular, are up over 20% and a pullback is natural at this point. It could simply be that big investors are taking some chips off the table today. 

Which Cryptocurrency is the best way to invest in and why?

For my opinion, Bitcoin is one of the biggest cryptocurrency that had been used for past years. Bitcoin’s recent surge was the result of a few catalysts, not least of which was the launch of the first Bitcoin-focused exchange-traded fund in the U.S. The Proshares Bitcoin Strategy ETF (ticker: BITO) began trading Oct. 19, with excitement over the continued mainstreaming of the digital asset driving BTC to an all-time high of $66,930 just a day later. Bitcoin’s invention in 2009 changed money forever and opened the door to blockchain-based, decentralized currencies not issued by any nation. Bitcoin’s first-mover status, its hard limit on a maximum circulation of 21 million BTC and its potential to become a store of value on the balance sheets of corporate America – a future which Tesla Inc. (TSLA) first hinted at with a $1.5 billion Bitcoin purchase announced in February.

Fed Chair Jerome Powell on interest rate decision after FOMC meeting

Fed Chair Jerome Powell on interest rate decision after FOMC meeting

The latest announcement yesterday that 75 points have been added, the interest is already 2.5%. There are still 2 meetings before the end of the year, that is, the next 2 meetings are mainly about 50 points in September and 50 points in December [total 3.5%], there is even a chance to add 25 points each, a total of 3%.

Fed Chairman Powell: We want to achieve a moderate level of tightening by the end of this year, that is, interest rates in the 3%-3.5% range.

Fed Chair Jerome Powell on interest rate decision after FOMC meeting the BTC/USDT shoot up from 21k to 23k.

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December 7, 2020 at 06:40PM

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Stock Trading Journal No 11 – Daily Game Moments. Everyday Trading For Profits

Stock Trading Journal No 11

December 4, 2020 at 01:23PM

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