A significant challenge for many people investing in cryptocurrencies is to avoid getting caught up in short-term trends. Following the daily Ethereum cryptocurrency news is important, but accurately assessing how the daily news impacts your investment goals is more relevant in making decisions.
The first step is finding a reliable source for Ethereum cryptocurrency news. Unfortunately, there are a lot of blogs and online cryptocurrency investment advice that are not current, accurate, or reflective of what is actually happening in the markets.
While daily ups and downs will always be essential to following with any cryptocurrency, the overall trend is the critical factor for those considering long-term investment strategies.
For example, since the middle part of May 2021, cryptocurrencies have seen an overall downward trend. This includes the major cryptocurrencies of Bitcoin, Ethereum, and Dogecoin. Of these three, Bitcoin has seen the lowest drop at about 38%, while Ethereum has dropped from its high value by just over 51%.
At the same time, the Invesco QQQ Trust, which trades on the NASDAQ as QQQ, has seen just over a 1% drop in price, recovering quickly from minor market setbacks.
The Driving Force
China is seen as a major player in all Ethereum cryptocurrency news, with their current focus on ending crytpo mining as they move towards their own cryptocurrency. The USA is also making moves to launch their own digital dollar, which may future impact the ability of the big cryptocurrencies to bounce back quickly in this transitional period for the market.
To assist in staying informed on the latest in Ethereum cryptocurrency news, visit Blockchain Asset Review. Articles on all current information on cryptocurrencies can be found at blockchainassetreview.com.