Massive selloff Since 2022 started, the total crypto market cap has seen a decline of nearly 600 billion dollars. The last week in particular has been extremely volatile. Bitcoin is down over 16 percent over the last 7 days, according to CoinMarketCap. Ethereum is down over 24 percent, and nearly every other top digital asset is down over 10percent. A big factor of the selloff comes from stocks dropping and inflation continuing to rise. Everything from groceries to housing is getting more expensive, and there is fear in the air among retail investors. An additional part of this selloff comes from Russia’s announcement for a possible ban on cryptocurrency trading…
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Weekly Bitcoin Review
More NBA players are taking their salary in Bitcoin
NBA players Klay Thompson and Andre Iguodala to take pay in Bitcoin Golden State Warriors star Klay Thompson made his return to basketball after a nearly three year injury last Sunday, January 9. The next day, he tweeted “I’m BACK and changing it up: excited to take part of my paycheck in bitcoin thanks to Cash App! I’m with bitcoin because I believe it’s the future of money.” Additionally, he said that he and his fellow teammate, Andre Iguodala would be giving away $1 million in Bitcoin through CashApp. Iguodala made a tweet himself confirming the giveaway. This isn’t the first time the NBA has been involved with crypto. Staples…
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Weekly Bitcoin Review
Bitcoin briefly dips below $40,000
Bill Miller allocates 50% of portfolio towards Bitcoin In his WealthTrack interview last Friday, Bill Miller shared his thoughts on Bitcoin. At the end of the interview, the long time value investor states that Bitcoin provides a “service of insurance against financial catastrophe that no one else can provide.” He then stated that he has allocated 50% of his investment portfolio into Bitcoin and other Bitcoin related assets, like MicroStrategy. He claims to now be a Bitcoin bull instead of just an observer. Even with the current fear in the market over Bitcoin, he is still bullish in the long-term. Store of wealth Many who buy Bitcoin view it as…
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Cryptocurrency Market Sees Drops Across the Board
Federal Reserve’s December meeting and Kazakhstan protests cause major dips in the market for the first week of 2022
Leading cryptocurrencies fall over 10% Over the last seven days Ethereum (ETH) has fallen 13.3%, Binance Coin (BNB) 12.4%, and Bitcoin (BTC) by 10%. Both BTC and ETH hit three months lows, and still have yet to recover. Few coins have seen gains in the last week, Chainlink (LINK) and Cosmos (ATOM) being exceptions. The market cap of the whole crypto market has been in decline since the middle of November. The market saw a major dip in early December, and then continued the slow decline. Now in early January the market has once again seen a significant drop. Even with the market dipping in December, it still seemed bullish.…
