Crypto currency's take a beating from Ukraine fighting

 Washington Examiner:

The price of Bitcoin has tumbled amid fears that Russia will soon invade Ukraine and engage in an all-out war.

Bitcoin fell below $37,000 early on Tuesday morning, a precipitous 6.5% decrease from the day before. Since dropping, it clawed its way back up a bit to about $37,700 by midday on Tuesday, a number that is still much lower than the $45,000 it reached earlier this month.

Other major cryptocurrencies have also retreated. Ethereum was clocking in at $2,610 on Tuesday, a nearly 25% decrease from where it was at earlier this month. Ripple was at $0.70, down a whopping 10% in just the past 24 hours alone, while Cardano was registering at about $0.87.

Bitcoin investors have been in for a wild ride over the past year or so. Bitcoin began 2021 at about $30,000 but broke its all-time high several times that year.

The flagship cryptocurrency rallied early on in 2021 and hit nearly $65,000 in April before it retreated from that peak. The summer was difficult for Bitcoin, which struggled over concerns about regulation, although its value once again exploded near the end of September and rallied to an all-time high of $69,000 in November. Bitcoin is now worth about 45% less than it was at its November zenith.

...

They do not have the same safety as precious metals when it comes to uncertain times.  Typical gold used to rise in value in times like these. 

Comments

Post a Comment

Popular posts from this blog

Should Republicans go ahead and add Supreme Court Justices to head off Democrats

Washington Post: Some Democrats eye adding more justices to the Supreme Court to change its ideological bent The once-remote idea has gained the attention of liberals angered by the GOP push to remake the federal courts. Probably the easy way to defeat this court-packing scheme is for Trump to propose doing the same thing now.  It would lead to Democrat denunciations and claims that it would be wrong, thereby blowing up any attempt by them in the unfortunate event of Democrats winning a presidential election.
Read more

29 % of companies say they are unlikely to keep insurance after Obamacare

Conn Carroll: A new survey of 368 midsize to large companies found that 29% of them are considering terminating their active employee health care plans when Obamacare is full implemented in 2014. Only 71% of employers surveyed said they did not expect to drop their health coverage, while 20% said they did not know and 9% said they were planning to exit. The latest survey, conducted by Towers Watson, echoes an ealier survey by McKinsey & Co. finding that 30% of private-sector employers were planning to drop their employee health insurance coverage by 2014. When the Congressional Budget Office crunched Obamacare's spending numbers, they estimated that only 7% of employees currently covered by employer-sponsored plans would lose their plans. ... This means the cost of the health care fiasco will be hundreds of billions more than estimated by the CBO and Congressional Democrat. It is also clear that Obama's pledge that you could keep your health care plan if you wanted t
Read more