It has been an interesting few days for followers of the cryptocurrency market with panic selling as the market took a battering.
At one point, the Bitcoin digital currency had fallen below $26,000 from a peak of more than $69,000. Meanwhile, the Terra [LUNA] cryptocurrency fell by more than 99%, wiping out the fortunes of many crypto investors.
Terra, which was ranked among the ten most valuable cryptocurrencies, dropped below $1 at one stage last week, having peaked close to $120 in the previous month.
Although we are not permitted to recommend cryptocurrencies to our clients, it is something we are often asked about.
We prefer to focus on the real economy where stocks may be overvalued but are never worthless – unlike the world of cryptocurrency.