According to CoinGecko, it has been flat for the past seven days and down roughly 0.5 percent in the last 24 hours.
Bitcoin did briefly soar above $39,000 the previous Sunday, thanks to a tweet from Tesla CEO Elon Musk (TSLA) – Get Report. It also topped 40,000 last week, but the value for the month has been rather consistent, as it was about $34,473 on May 23. This is good news for a coin that was worth less than $10,000 a year ago and more over $64,000 in April.
In terms of other cryptocurrencies, Ethereum’s ETH has dipped somewhat in the same time frame, hovering around $2,259.81 on Sunday. That’s a 5% drop in a week and a 2.6 percent increase in the last 24 hours.
Dogecoin saw the greatest drop this week, falling nearly 10% to 28 cents. This represents a 2.7 percent decrease in the last 24 hours.
However, bitcoin’s present value demonstrates the currency’s inability to move dramatically up or down in recent weeks. It had dropped precipitously in the months since hitting a high of over $64,000 in mid-April.
Source: thestreet.com
General Advice Warning
Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.
Last year, more than three million Australians took $36.4 billion out of their super accounts as part of the early super access plan, which was designed to assist individuals who were financially struggling during COVID-19.
However, if that money had stayed untouched in Australia’s largest superannuation funds, the total would currently be $41.1 billion.
According to a new McKell Institute report, Australians have already lost $4.7 billion in returns in the year since the system was launched.
Following a low in April 2020, the value of Australian super fund indices increased by 15-20% as the economy recovered.
According to the institute’s calculations, somebody who took the maximum $20,000 withdrawal allowed under the early access scheme would have already lost $3644 in investment growth. Is buying high and selling cheap a better strategy? The concept of early super access and the foregone investment profits.
The government early access programme was designed to assist those who were financially impacted by COVID-19 in meeting their expenses.
Those who took advantage of it were not compelled to disclose how they used the money, but they were cautioned to think carefully about the consequences of getting the money so early.
Source:- News.com.au
General Advice Warning
Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.
