After a brief respite over the middle of the week cryptocurrencies have resumed their steep falls today to hit new 52-week lows across the board as speculators continue to sell out perhaps in anticipation of further price falls. Let’s take a look at the latest scoreboard damage for crypto investors as prices print new lows. All prices accurate as at 15.55pm AEST according to financial news wire Investing.com. The Bitcoin price is at a 52-week low of US$4,298 and down 7.3% in 24 hours The Ethereum price is at a 52-week low of US$124.90 and down 10.5% in 24 hours The…
After a brief respite over the middle of the week cryptocurrencies have resumed their steep falls today to hit new 52-week lows across the board as speculators continue to sell out perhaps in anticipation of further price falls.
Let’s take a look at the latest scoreboard damage for crypto investors as prices print new lows. All prices accurate as at 15.55pm AEST according to financial news wire Investing.com.
- The Bitcoin price is at a 52-week low of US$4,298 and down 7.3% in 24 hours
- The Ethereum price is at a 52-week low of US$124.90 and down 10.5% in 24 hours
- The Ripple price is at US$0.4105 and down 8.4% in 24 hours
- The Litecoin price is at US$31.81 and down 9.3% in 24 hours
- The Stellar Lumens price is at US$0.1807 and down 11% in 24 hours
- The Bitcoin Cash price is at US$326 and down 1.9% in 24 hours
So what’s going on?
As before due to the opaque nature of the cryptocurrency space it’s very difficult to explain why digital currencies may be moving up or down on any single day.
However, the continued weakness in Bitcoin as the original and largest cryptocurrency is bad news for all digital currencies as Bitcoin is considered a bellwether or flagship currency.
As such if its price falls then all of the other cryptocurrencies tend to follow it lower.
One factor not helping is the weakness in wider capital and equity markets.
For example leading stock indices such as the NASDAQ 100 or S&P / ASX 200 (ASX: XJO) have posted 10% falls in value themselves over just the past couple of months. Of course these falls are modest compared to the 75%-90% falls experienced by crypto investors over the past 12 months, which suggests investors may be better off looking at traditional equities over internet currencies in times of increased uncertainty.
For example Westpac Banking Corp (ASX: WBC) currently offers a trailing yield greater than 7% based on dividend payouts of $1.88 in the past year and although it might have to trim its dividends in the year ahead it’s not going to blow up your capital crypto-style.
Or a business like Sydney Airport Holdings Ltd (ASX: SYD) offers some earnings growth and a yield of 5.6% based on the airport’s generally reliable forecasts for 37.5 cents per share in dividends in FY 2019.
If you prefer dividends to cryptos then you could read on about 3 shares to create wealth for you and your family…
With interest rates likely to stay at rock bottom for months (or YEARS) to come, income-minded investors have nowhere to turn... except dividend shares. That’s why The Motley Fool’s top analysts have just prepared a brand-new report, laying out their top 3 dividend bets for 2019.
Hint: These are 3 shares you’ve probably never come across before.
They’re not the banks. Not Woolies or Wesfarmers or any of the “usual suspects.”
We think these 3 shares offer solid growth prospects over the next 12 months. The first two currently offer fat, fully franked yields. The last is a surprising REIT offering you the benefits of being a landlord with none of the hassle! You’ll discover all three names and codes in "The Motley Fool’s Top 3 Dividend Shares for 2019."
Even better, your copy is free when you click the link below. Fair warning: This report is brand new and may not be available forever. Click the link below to be among the first investors to get access to this timely, important new research!
The names of these top 3 dividend bets are all included. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies move – we may be forced to remove this report.
Motley Fool contributor Yulia Mosaleva has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Sydney Airport Holdings Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.