Buy the Dips ๐Ÿ“‰

Table of Contents

Buy the Dips

Howโ€™s your crypto portfolio doing? Over the weekend, we saw cryptocurrencies cool off after an overall bearish day in the markets on Friday. After the first case of the Omicron variant was discovered in the US last Wednesday, all three major stock indices finished Friday in the red and posted losses for the week.

On Friday, the Nasdaq lagged the Dow and S&P 500, with technology firms taking the hardest hit. The selloff spilled over into cryptocurrencies, with no apparent reason for the drops. However, some crypto enthusiasts believe the drop was sparked by liquidations in the crypto derivatives market, anxiety about the Fed easing monetary policy amid the non-transitory inflation and concerns over the new covid variant.

As of Sunday, Bitcoin is hovering just under $50,000 and Ethereum has fallen nearly 8% this week. While many investors sold their Bitcoin amid the dip, there was one investor who bought more โ€” El Salvador.

El Salvadorโ€™s president, Nayib Bukele, tweeted about his countryโ€™s recent Bitcoin buys โ€œEl Salvador has just purchased the dip! 150 coins at an average price of $48,670.โ€ In September, El Salvador made Bitcoin legal money. The country has acquired 1,370 BTC since then.

El Salvador has bought Bitcoinโ€™s dip frequently. President Bukele announced on November 26 that his country had purchased 100 additional BTC after the price fell following news of the new covid variant. What are your thoughts on El Salvador buying the dip again? Did you buy the crypto dip?

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

Share:
More Posts
Get your daily Invstr Crunch

Get the market news and updates you need, delivered to your inbox or available on our daily podcast.

Risk Disclosure:

Invstr is not a bank and banking services are provided by Vast Bank, N.A.

Brokerage and Banking services are currently only available to U.S. residents.

Invstr app and web services are provided by Invstr Ltd. Advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC) details of which can be obtained here. Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value.

Investing involves risk and can lead to losses. Past performance does not guarantee future results.

Invstr app and web services are provided by Invstr Ltd. Invstr+ advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC). Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value. Vast Bank N.A. a nationally chartered bank and member of the FDIC, provides the banking products, including the products and services related to digital asset accounts. As with any asset, the value of Digital assets can go up or down and there can be a substantial risk that you lose money buying or holding digital assets. You should carefully consider whether trading or holding Digital assets is suitable for you in light of your financial condition. Your digital account does not support wallet to wallet transferring of your digital assets (i.e. cryptocurrencies) outside the platform. Any Digital Assets in your digital asset account are not insured by any government entities, including but not limited to FDIC or SIPC. The Invstr Visaยฎ Debit Card is issued by Vast Bank, N.A. pursuant to a license from Visa U.S.A Inc and may be used everywhere Visa debit cards are accepted. Invstr Ltd, Invstr Financial LLC and Invstr Securities Ltd are subsidiaries of Marketspringpad Holdings (collectively “Invstr”) and Invstr is solely responsible for the application services and website content.

Watchlists provided when users first access the service are not a recommendation to invest. Instead they are provided to help users better navigate the service. Users are free to edit and create their own watchlists. From time to time, Invstr will suggest instruments solely based on an individual’s interest and the interest levels of the Invstr community. The statistical and portfolio builder models generated by Invstr do not reflect actual investment results and are not guarantees of future results. Comments provided by Invstr leaders, influencers or members of the Invstr Community are not recommendations and should not be construed as such. Invstr does not endorse the content or the positions posted by them. Their investment approach, and that of the models provided by Invstr, may be different from yours and may not be appropriate for you.