SAFAKNA TURKEY – After a long wait, the cryptocurrency markets began to move. The upward movement that began with the leading cryptocurrency Bitcoin has attracted attention in a short time. Those who prefer to keep their investments in the park for more than a year in the crypto money market, whose investments are dwindling, and who appreciate the time value of money, have become worried again.
Bitcoin entered a period of rapid decline after hitting its all-time high of $69,000 in November 2021. Along with bitcoin, other cryptocurrencies fell rapidly, and some of them added 2 more zeros and became even more useless.
While investors fled due to loss of confidence in cryptocurrencies and unwarranted recessions, the remaining investors posted huge losses.
VOLUME BELOW US$1 TRILLION
The volume, which fell below $1 trillion, did not let investors in for a long time. Due to the loss of confidence, Bitcoin has been trading at $15-16 thousand for a long time.
BITCOIN SHOWN 19 THOUSAND DOLLARS
After a very long time, Bitcoin saw $19,740. 16 thousand
Bitcoin, which has risen from the dollar, has gained about 19 percent in a short time. Ethereum bounced back from $1,200 to $1,400. Thus, Ethereum has also added about 17 percent in a short time. There are bull traps in the cryptocurrency market right now after every fall. The bulls try to keep the market positive by making easy purchases, making other investors believe that the market will be bullish. Then, when the bulls see profits of around 7-10 percent, they begin to empty their crypto assets by issuing a sell order, and the money of small investors turns into stamps.
RULES SHOULD BE
The huge gap in the cryptocurrency markets is causing fortunes to evaporate. Although governments continue to work to regulate cryptocurrencies, a legalized and organized market has long since ceased to exist. The lack of a margin gap, the abundance of cryptocurrencies without money and stories, the fact that cryptocurrency exchanges are not subject to any legislation, lead to hundreds of thousands of people losing their money. For the leading cryptocurrency, Bitcoin, it is necessary not to believe those who make predictions like “see $100k, see $250k”, the depth of fundamental and technical analysis should be explored, and if they give a price target, attention should be paid to the date. If he says “it will go up to $250,000” and doesn’t give a date, it turns out that this estimate is empty.
Cryptocurrencies do not have a margin gap, so your money can reach thousands of times at a time, or it can suddenly drop to zero. Since he does not depend on any authority, he is not subject to rules and laws. Coins purchased on any cryptocurrency exchange may evaporate when the cryptocurrency exchange closes. It is known as the most logical way to store received crypto money by moving it to a cold wallet. Cryptocurrency exchanges should only be used as an intermediary, and then the coins should be stored in cold wallets. Cryptocurrency exchanges can slow down their systems to protect themselves in the event of a rise or fall, and hence investors can become victims due to the fact that trading is not possible. Due to the fact that they are not affiliated with any authority, almost anyone can make statements about cryptocurrencies and claim to be an expert. While many ordinary people on social media are not credentialed, they offer advice and harass investors. Although the explanations are made with charts, a single change that will affect the global economy could spoil all analyzes. For this reason, it is necessary to be careful when investing in cryptocurrencies, to know the risks well and to update stop orders every day.
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