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Should I buy bitcoin?

ā€œTo the extent it is used I fear itā€™s often for illicit finance. Itā€™s an extremely inefficient way of conducting transactions, and the amount of energy thatā€™s consumed in processing those transactions is staggering,ā€ the former Fed chairwoman said. Yellenā€™s comments have been cited as a reason for bitcoinā€™s recent losses. However, Yellenā€™s assessment of bitcoin as a inefficient medium of exchange is an important point and one that has already been raised in the past by bitcoin bulls. Using a volatile asset in exchange for goods and services makes little sense if the asset can tumble 10% in a day, or surge 80% over the course of a two months as bitcoin has done in 2021, critics argue. To put a finer point on it, over the past 12 months bitcoin has registered 8 corrections, defined as a decline from a recent peak of at least 10% but not more than 20%, and two bear markets, which are defined as falls of 20% or more, according to Dow Jones Market Data.

If riding a bucking bronco is your idea of fun, youā€™re going to love what the stock market has in store. Consider this past weekā€™s ride a preview.The weekā€™s action didnā€™t look like much, if you didnā€™t know better. The Dow Jones Industrial Average rose 213.12 points or 0.6%, while the S&P 500 advanced 0.5%, and the Nasdaq Composite ended little changed.

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