Overnight Volatility Shown Once Again

Business

Those who have become involved in different finance markets over the past year or so in particular will be all too aware at how quickly things can shift, especially when watching ongoing markets like GameStop which has went through huge changes both positive and negative in a short amount of time – similar has been true throughout the history of cryptocurrency which has become a huge finance option for many, and as bigger services particularly within gaming like those found at casinosnotongamstop.org which have become more accepting of decentralized currencies. Despite the growing acceptance however, many of these currencies remain as volatile as ever, as recently shown as a huge overnight drop had hurt hopes for many. 

(Image from express.co.uk)

Bitcoin has shown a lot of strength throughout 2021, having risen to a value of $60,000 multiple times during the year, and with crypto news flooding many different markets throughout these first few months too it has only helped the success as bigger names like Tesla would jump onboard and invest a huge figure into the still growing currency, going as far as to even suggest that the future would lead to an opportunity for cars to be bought with the currency too. Not to last, however, as recently an announcement by Tesla stating  that they would no longer be supporting the currency due to environmental concerns, it saw the price of bitcoin drop from $55,000 down to $40,000 overnight, and deliver another huge blow to those most invested with a suggested $4 billion of value liquidated either.

Not the only currency to see huge change either, as the ‘meme’ coin of Dogecoin also undergoing similar changes from the same figurehead too – it had found some huge success throughout the start of the year much like bitcoin starting as low as $0.002 as 2020 rounded up, jumping to a height of $0.72 during the start of May – with similar public sentiments leading to a substantial drop right back down to $0.43, almost overnight once again the volatility of the market in particular, and dashing hopes for those hoping to hold out for a longer period of time and surpass the $1 mark for the first time. 

The conditions have certainly changed to be far more open to retail traders to become involved in the market and there are many blueprints to help newcomers find their way into the space too, but also shows that there are many hurdles to overcome and keep an eye for whilst showing how quickly the wider markets can change, and how much of an impact they could have on an individual’s own position. It does raise the question of how so much power in some sense could be held to public announcements like those that have recently happened, but as they have long been a part of the financial market as a whole, it’s also no surprise that it had happened once again.

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