Well, the upswing in BTC was accompanied by Japan's regulatory acceptance of BTC and the influx of wealth that followed.
The downswing in BTC was preceded by China's closure of several large mining operations in Szechuan.
These are the factors I see as most salient in understanding why BTC is currently losing value. The cryptocurrencies, like all currencies, are dependent on regulation, despite the intention of the creator(s) of BTC. Many people claim BTC and cryptos are immune to regulation, and both events, Japan's acceptance of BTC and China's closure of BTC mining operations, demonstrate that this is not true.
Interesting, thank you.. Maybe its a good opportunity to buy more as more people sitting on the fence still jumping in now and buying low might just bring some balance back to the value... fingers crossed
I highly recommend diversification as the primary feature of any portfolio. While particular sectors of your portfolio might seem to be profitable, and others losing value, at any given time, any single investment could at any time suddenly and catastrophically fail due to unforeseeable events utterly beyond your control.
You can weight sectors depending on your appetite for risk, or need for reliability.
In any investment it is wise to understand the business you are investing in. I find cryptocurrencies opaque, and novel, without precedent that can provide that understanding. As such, investment in the sector is speculative for me. Regardless, it might also be wise to spread your investment in cryptocurrency between a couple different currencies, so that one event affecting only one currency doesn't wipe out your entire capital in that sector.
The Chinese closure of BTC miners in Szechuan didn't affect ETH, for example.
Yes you are correct I have both BTC and ETH in a Exodus wallet and have flipped them a few times within the wallet itself. Thanks for the heads up... keep up the good work as I am following close
Well, the upswing in BTC was accompanied by Japan's regulatory acceptance of BTC and the influx of wealth that followed.
The downswing in BTC was preceded by China's closure of several large mining operations in Szechuan.
These are the factors I see as most salient in understanding why BTC is currently losing value. The cryptocurrencies, like all currencies, are dependent on regulation, despite the intention of the creator(s) of BTC. Many people claim BTC and cryptos are immune to regulation, and both events, Japan's acceptance of BTC and China's closure of BTC mining operations, demonstrate that this is not true.
Interesting, thank you.. Maybe its a good opportunity to buy more as more people sitting on the fence still jumping in now and buying low might just bring some balance back to the value... fingers crossed
I highly recommend diversification as the primary feature of any portfolio. While particular sectors of your portfolio might seem to be profitable, and others losing value, at any given time, any single investment could at any time suddenly and catastrophically fail due to unforeseeable events utterly beyond your control.
You can weight sectors depending on your appetite for risk, or need for reliability.
In any investment it is wise to understand the business you are investing in. I find cryptocurrencies opaque, and novel, without precedent that can provide that understanding. As such, investment in the sector is speculative for me. Regardless, it might also be wise to spread your investment in cryptocurrency between a couple different currencies, so that one event affecting only one currency doesn't wipe out your entire capital in that sector.
The Chinese closure of BTC miners in Szechuan didn't affect ETH, for example.
YMMV.
Yes you are correct I have both BTC and ETH in a Exodus wallet and have flipped them a few times within the wallet itself. Thanks for the heads up... keep up the good work as I am following close