Bitcoin

How Crypto is Changing the Future of Economy? 

If you’ve been following the news recently, you may have heard that bitcoin is going to crash again or that it has no value. These and other common misconceptions about cryptocurrency are not just false, but they obscure the real story: The way money works is changing, and digital currencies like bitcoin are leading the charge. In this article, we explore how cryptocurrency is revolutionizing the global economy.

What is Cryptocurrency?

Cryptocurrency is digital money that can be used for online shopping, transfer of value, or financing business ventures. Bitcoin, Ethereum, etc. are examples of cryptocurrencies and they are even traded in different platforms such as https://traderswithedge.com. The supply of each of these digital currencies is controlled by computer algorithms, not by central banks or other government institutions.

Cryptocurrencies are decentralized and their digital ledgers are publicly viewable by anyone. Anyone can transfer cryptocurrencies between two people without needing a financial institution to facilitate the transaction.

How Cryptocurrency is Changing Business and the Global Economy?

We are seeing a growing number of businesses accept cryptocurrency payments. This is a big change because these same businesses used to shun virtual money as too risky. Now they are welcoming crypto as a new source of revenue. There are many reasons behind this growing acceptance. One is the growing popularity of blockchain technology, which is responsible for powering transactions with cryptocurrencies.

Businesses see that blockchain is a secure, efficient way of processing payments that they may not have had access to before. They are also seeing that many of their customers are already using cryptocurrencies, and that they want more ways to pay with them. 

How You can Benefit from the Rise of Crypto?

If you buy cryptocurrency now, you can grow your investment as the market grows.

Investing in crypto is different from buying stocks or other securities, but the rewards can also be much higher. Crypto investing also offers more immediate rewards compared to other asset classes such as stocks, bonds, or gold.

And because of the reason that crypto market is still fairly new, even in this modern digital age, there are many opportunities for people to get involved and make money. It’s not too late to get started. To begin, it’s important to understand the basics. Once you know how the market works, you can make informed decisions about how to invest. There are many ways to invest in cryptocurrencies.

Posted by Ness Shantel in Cryptocurrency

Bitcoin Investors Continue to Get Anxious as Prices Drop Below $30K

Since Bitcoin prices started slipping down from its highest of $68,000 in November 2021, the past week saw a price drop of $26,000, the lowest seen in the past 16 months. Today, May 18, BTC price closed at $28,947.21 USD after yesterday’s closing price of $29,716. Although Bitcoin trading in May 04 saw a surge in BTC price that ended with a $40K value, this all the more saw more BTCs being sold in the cryptocurrency market.

Factors Triggering BTC’s Increase Volatility

Cryptocurrency experts are saying the increased volatility in Bitcoin prices is a result of several factors, namely: price inflation, the geopolitical crisis in Europe, particularly Russia’s Ukraine invasion and anticipation of the Federal Reserve’s stricter monetary policy and government plans of regulating the US cryptocurrency industry.

Hope Springs Eternal for BTC Prices to Rise Again

Yet many believe the price will stabilize once BTC owners decide to hold on to their digital asset and wait for the turn around to happen. Hope springs eternal as far as BTCs are concerned since experts believe it’s just a question of when the trun around will happen. The expectation is that BTC prices can even soar to up to $100,000 apiece.

The greatest influencing factor is the Russian Ukraine conflict, which according to Bone Fide Wealth found and certified financial planner Doug Boneparth brings a tremendous degree of volatility regardless of the asset class in question. However, the volatility of the market conditions makes it difficult for investors to hold on to their investing strategies.

Posted by Madelina Feliks in Cryptocurrency

New Developments Transpire in US Cryptocurrency Market as Price Continues to Plummet

The slump that the cryptocurrency market has been experiencing since last week is regarded as being the worst plunge in months. Bitcoin (BTC) plummeted to $34,000 while Ethereum (ETH) sunk below $2,200. The huge price drop came after the Federal Reserve’s report on a possible government-issued digital currency. This was during the middle of the stock market’s worst week for almost two years. According to the CoinMarketCap statistics, crypto market cap went below $2 trillion between the sell-off.

The great news though came this Monday, although it wasn’t until Wednesday that the delayed recovery effect was felt. investors placed $14 million into crypto funds but mainly to take advantage of the price dip. According to the report, the inflows last week mostly went to Bitcoin-focused accounts totalling USD 13.8 million.

US Government to Issue Its Own Digital Currency

The Biden government announced plans of issuing its own U.S digital currency and has taken the first step to determine the potential impact of such plan. The Federal Reserve is asking the opinion of citizens on the possible release of a digital dollar, tentatively called the Central Bank Digital Currency (CBDC).

Apparently the US Central Bank will issue and support the digitalized cash. Actually, if this pushes through, the U.S. will simply follow suit to China and Sweden, the firsts to experiment the adoption of cryptocurrencies

Posted by Madelina Feliks in Cryptocurrency