In recent days we can see that most cryptocurrencies have had a sharp drop in their price. This is due to some factors around the world. On the one hand, we have China prohibiting the mining of cryptocurrencies in the country. On the other hand, we have Elon Musk with their twitters that, whether they like it or not, end up moving the market. And due to these falls, many speculations ended up emerging and further aggravating the currency price factor. For example, many people say that crypto is an illegal currency used to make illicit transactions worldwide.
On the other hand, we can see ample opportunity with the falling prices of these cryptocurrencies. Would now be the ideal time for this investment? Analysts at The Time show that investing in BTC today would be extremely dangerous. After all, the currency is highly volatile, and this can end up causing some losses for the investor. However, there are still markets in this niche. Lately, the currency that has become the darling of crypt investors worldwide is the Ethereum (ETH), which has seen a significant increase from 2020 until now in 2021.
Much remembered by fans as a revolutionary release and criticized by many personal finance experts as a dangerous creation. However, one thing is sure: Bitcoin is volatile.
Since December 2020, bitcoin has enjoyed a series of dramatic ups and downs:
- December 16, 2020 — Price hits $20,000 per currency for the first time.
- January 3, 2021 — The figure rises almost $5,000 in the first days of the year to over $34,000
- February 9 — New record $48,000 after electric car maker Tesla buys $1.5 billion bitcoin.
- Feb 21 — Price hits $58,354
- Feb 23 — drops to $44,845.72, down 18.4% in one day
- March 13 — New record of $61,701
- March 17 — Morgan Stanley becomes the first central US bank to offer wealthier customers access to bitcoin funds — albeit restricted to no more than 2.5% of an investor’s total net worth.
- March 24 — Tesla boss Elon Musk tweeted that Tesla cars can be bought with bitcoin.
- April 13 — New high of $63,375
- April 18 — Publishes its most significant one-day drop in two months, dropping 25% to $55,000
- April 23 — up to $49,730
- May 10 — rises to over $59,300
- May 12 — Elon Musk says he is concerned about the environmental impact of cryptography, causing it to plummet to $49,000
- May 23 — drops to $31,000
- June 7 — Earns Nearly $37,000
Yes, none of us read that wrong. In El Salvador, President Naybi Bukele has legalized the use of cryptocurrency. And what does this affect the market? What are the advantages and disadvantages of it? For Salvadorans, this is an incredible advantage because they will be able to use bitcoin along with the US dollar as an official form of payment from now on.
Speaking further about bitcoin, President Nayib Bukele also said that using bitcoin would make it less bureaucratic for citizens working abroad to send money back home.
This announcement caused bitcoin to get a slight boost, although it is still almost half the price of its April peak.
There is no sure guarantee about this, the currency is highly volatile, and when we talk about investment, nothing can be predicted. But bitcoin can return to its moments of glory someday. After all, everything that falls can rise again. So its extreme volatility, which ends up being the fear of many today, could become someone’s triumph in the future.
But with environmental concerns now becoming an ever-increasing priority, and China’s crackdown on the currency, as well as central bank concerns around the world, it’s possible that the gains will be weaker. But since nobody has a crystal ball, then it’s impossible to say for sure.
Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://medium.com/all-place/buy-or-sell-worth-investing-in-crypto-bb72bf7a0154?source=rss——-8—————–cryptocurrency
