Cryptocurrencies continue moderate growth

SAFAKNA TURKEY – The world economy continues to struggle with the problem of inflation. Inflation in the economies of the US and the EU, which suffered the most, entered a downward trend. Consequently, the elements of equilibrium in the markets have also changed. While gold in ounces was gaining strength, gold in grams reached an all-time high. Oil prices strengthened against the backdrop of declining inflation. Expectations have emerged that the Fed and the ECB will take action to cut interest rates or that the rate of interest rate hikes will slow down.

In parallel with all these events, cryptocurrencies began to grow. The volume of transactions in cryptocurrencies, growing for 3 weeks, again exceeded $1 trillion.

Cryptocurrencies are trading at much lower levels than the all-time highs they saw in November 2021. Due to the time value of money and high inflation in 2022, cryptocurrency investors’ money suffered huge losses. Real profitability will come if the calculations are made in this way, putting the inflation rate on the inflation rate of their own currencies, and also having their currencies rise to the previous level in order to appreciate them.

BITCOIN RETURNED TO $23,000

With Bitcoin exceeding $23k, the leading cryptocurrency has also mobilized other cryptocurrencies. Bitcoin saw a low of $22k292 and a high of $23k78 during the day. It is currently trading at $22,721, down nearly 1%. At its historical peak in November 2021, its distance is 67 percent.

Ethereum EXCEEDS $1600

Ethereum, which has been in a bearish trend for a long time, is trading at $1,633 with a 0.23% premium. Ethereum saw a low of $1,607 and a high of $1,663 during the day. Its distance from its historical peak in November 2021 was 66 percent.

DON’T GIVE BY BUCK TRAP

In the cryptocurrency market, bull traps are currently seen after every dip. 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.

DON’T BE FUCKED BY CRAZY PREDICTIONS

For the leading cryptocurrency, Bitcoin, one should not believe those who make predictions like “see $100k, see $250k”, the depth of fundamental and technical analyzes 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.

SPECIALISTS WORK SALARY

People who present themselves as experts either earn money on social networks or work as an employee on a cryptocurrency exchange. If the experts who analyze when cryptocurrencies will rise and fall also analyze for themselves, they could become billionaires and live very comfortably instead of working for a salary. With this in mind, people who present themselves as experts should be approached with caution.

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.