In the last few days, one of the increasing trends in all the major cryptocurrencies is a sharp drop in value. This is not just in Bitcoin, but it is also topping many of the leading stories in Ethereum cryptocurrency news.
There are two driving forces believed to trigger this latest breaking Ethereum cryptocurrency news. One is the continued and escalating concerns about Russia’s next move in Ukraine, and the other is a very real concern about sudden inflation, which is one of the reasons the United States is taking the economic measures to attempt to offset any downturn in the recovering economy.
Interestingly, while the market cap on cryptocurrencies has dropped over fifteen percent in the last week, the volume of cryptocurrency traded continues to remain at a fairly consistent level. This is not just impacting Bitcoin and Ethereum, drops have occurred in Shiba Inu and Dogecoin, two of the latest and hottest tokens on the market today.
The Tax Issue
Even with a decentralized finance approach, world events, including income tax payments, have an impact on investment and the markets. Some experts believe that corporations and individuals are selling off some of their assets, including cryptocurrencies, to pay income tax.
Wise investors are closely watching Bitcoin and Ethereum cryptocurrency news. These investors are poised to attempt to buy on the dips or invest in cryptocurrencies when the market prices fall.
Knowing just how to time these purchases is critical to maximum future earnings by buying Ethereum and other cryptocurrencies at the lowest prices with the intent to sell once they reach a peak in the future.
If you are interested in learning more about the latest in Ethereum cryptocurrency news from around the world, check the information and articles available at Blockchain Asset Review. We are easy to find online at blockchainassetreview.com.