1/3/2024 0 Comments Axie infinity redditThe comments come amid a tumultuous week for crypto, with bitcoin dipping below $21,000 and ethereum falling below $1,100 Wednesday. Bill Gates, one of the richest people in the world and a well-known critic of crypto, has once again slammed the industry, saying crypto and NFTs are “100% based on greater fool theory.” During a TechCrunch talk on climate change Tuesday, the billionaire Microsoft implied that crypto and NFTs are overvalued assets and sarcastically joked that “expensive digital images of monkeys” would “improve the world immensely.” During the talk, Gates said he’s “not involved in that” and “not long or short any of those things,” referring to crypto and NFTs.Here’s what investors should make of the latest crypto news: Either way, experts advise not to make financial decisions based on news-related panic or hype. The big crypto market crash is just the latest reminder for investors that crypto assets come with extra risk and volatility, especially in times of economic and political uncertainty like we’re in now. I don’t know where it’s going to go, but based on past trends, we’ve been in that range.” “Some people track the 20-week average for bitcoin, and according to that, that gets us in the $20,000 to $30,000 range. “Sometimes bear markets can last up to several months,” Charlene Fadirepo, a crypto expert and founder of Guidefi, recently told NextAdvisor during an Instagram Live. This figure is higher compared to the 2020 crypto revenue of $5 million.And some experts are warning the worst may be yet to come - and bitcoin’s price, as well as other cryptocurrencies, could drop even further. Robinhood recently boasted of generating $233 million in Q2, representing 42 percent of its total $565 million revenue. It is worth adding that crypto-based retail trading gained popularity on the platform earlier in the year when it gained notoriety for its role in the spike of Dogecoin’s price. It was also revealed that New York-based customers would not have access to this service. With this feature, users can buy as little as $1 on a schedule of their choice. However, if users receive less crypto than their purchase, they would get a refund in fiat after the trade is completed. It also added that there might be a change in the amount of crypto to receive when purchased due to volatility. The web post reads it would always process recurring crypto orders at 2:30 pm and 4:00 pm ET (6:30 pm to 8:00 pm UTC). While this feature is already live, the company published the schedule to process recurring crypto orders on its website. According to the press statement, it was explained to be a strategy that involves “investing money gradually at regular intervals, rather than all at once and regardless of where market prices stand, in order to help smooth out the price swings that can sometimes occur.” Robinhood highlighted that the new strategy is called the dollar-cost averaging. This could be scheduled to be daily, weekly, bi-weekly, or monthly in multiple crypto assets. The September 8 announcement indicated that the trading platform’s new feature would allow users to be able to make scheduled crypto investments at will. Per a Wednesday announcement, Robinhood, a crypto trading app, has introduced a fee-free crypto recurring investment feature, which would allow customers to buy digital coins without the platform charging commission.
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