Stock markets around the world have rallied to new highs in recent months. However, despite the bullish sentiment, market analysts are now warning that a correction could be looming on the horizon. Here is exactly what they are saying and what it could mean for you as an investor.
MyWalletHero is here to help you learn about taking control of your money, whether that’s paying off debt, working towards a short-term money goal, or investing for your future.
This tool can help you understand the next steps on your journey – simply choose a goal that best describes your current interests to get started.
MyWalletHero is here to help you learn about taking control of your money, whether that’s paying off debt, working towards a short-term money goal, or investing for your future.
This tool can help you understand the next steps on your journey – simply choose a goal that best describes your current interests to get started.
Why do cryptocurrency prices change so quickly?
Just like normal financial markets, cryptocurrency markets go through bullish and bearish periods.
However, because crypto markets are open 24/7 and there are minimal controls or regulations, everything happens in hyperdrive. Instead of prices changing gradually, they can swing wildly in minutes.
Here’s what Dogecoin is all about.
Where did Dogecoin come from?
Dogecoin (pronounced ‘dough-je-coin’ as opposed to ‘dodge-coin’) was created in 2013 by software engineers Jackson Palmer and Billy Markus.
Like other types of cryptocurrency, you can buy and sell Dogecoin like an investment or spend it like money.
But
unlike many other types of cryptocurrency, the number of coins that can be mined will increase every year.
For example, one of the very first cryptocurrencies, Bitcoin has a finite supply of coins – 21 million to be exact. There will never be any more.
As more Bitcoins are mined, scarcity increases, driving up the value. At the time of writing, one Bitcoin is worth about £40,270. In contrast, there are currently 129 billion Dogecoins in circulation, and each one is worth around 36p.
The price of stamps has risen every year since 2015.
Today, sending a standard sized letter using first-class post sets you back 85p and sending a large letter costs £1.29. For second-class post, it’s 66p and 96p respectively. But while price hikes seem to be one of life’s inevitabilities, who actually sets the price of a stamp in the UK?
Who sets the price of a first-class stamp?
Royal Mail is in charge of setting the price of first-class stamps, but that’s not always been the case.
Up until around nine years ago, communications regulator Ofcom set the price of all stamps in the UK. In 2012 the rules changed and the price of a first-class stamp was deregulated, meaning Royal Mail got the right to decide what to charge.