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Caution Around Crypto: Bitcoin's Downfall?

Audio version available here:

Length: approx. 1 min.

Bitcoin enthusiasts were met with an unpleasant surprise on Monday morning as the value of the cryptocurrency experienced an 11% decline from the previous week. This downward trend follows the sudden 9% drop the previous Friday, resulting in a loss of over $3,100 in value. Despite 2023’s overall increase in value of approximately 21% from 2022, concerns have arisen due to events such as SpaceX, a long-time endorser, selling much of its Bitcoin holdings. Additionally, the Federal Reserve's threat of heightened scrutiny and oversight of the crypto market has shaken the confidence of many in the digital currency. This situation highlights that caution and smart practices around crypto investment must be taken. Regain your confidence by engaging in smart and effective financial planning. If you need expert guidance, reach out to us at XQ CPA, where we are dedicated to achieving your financial goals. Give us a call at 832-295-3353, or make an appointment on our website to get started:


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