Karyatidon 1, Ypsonas. 4193 Limassol Cyprus info@hautestakes.com
Bitcoin and Ethereum saw big falls this week after setting new all-time highs last week. This week’s drops follow President Joe Biden signing the $1.2 trillion infrastructure bill into law, which included provisions that impact crypto investments. The latest price swings also follow a Biden administration report proposing new legislation to regulate stablecoins, and a Federal Deposit Insurance Corporation official saying the agency is looking to give crypto guidance to banks. Last month, the first Bitcoin ETF officially hit the market as well, marking crypto’s debut on the New York Stock Exchange. Bitcoin is the largest cryptocurrency by market cap, and a good indicator of the crypto market in general, since other coins like Ethereum (and smaller altcoins) tend to follow its trends. Even though Bitcoin recently set another new all-time high, it was a pretty normal uptick for the crypto, which is notorious for its volatility. That’s not to say investors should take swings in either direction lightly, and this is also why investing experts recommend not making any major investment changes based on these normal fluctuations.

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  • info@hautestakes.com
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