Market Update May 19, 2021

TODAY’S BIGGEST HEADLINE IS ABOUT BITCOIN

Today’s headlines are dominated by the crypto market. Plenty of speculation is going around what was the cause for bitcoin losing over half it’s value in just a few trading days.

Fingers point anywhere from Elon Musk’s tweets stating that Tesla will no longer accept bitcoin, to the People’s Bank of China was seen warning against using digital coins as payment, to insiders blaming whales (corporations/individuals owning large quantities of bitcoin) manipulating the market to create buying opportunities for themselves. See below:

If you have been waiting for a buying opportunity to invest *cough* gamble *cough* in crypto currencies, and don’t exactly know how, the easiest would be through purchasing shares from a publicly traded ETF such as GBTC or ETHE. Never bet more than you’re willing to lose!