SAFAKNA TURKEY – Cryptocurrency continues to strengthen. Other investment vehicles are also having active days as the inflation that the world’s economies are struggling with starts to ease. The upward movement, which began under the leadership of gold, was reflected in cryptocurrencies. Cryptocurrencies, which have been in a downtrend for a long time, have shown an upward movement according to the latest data. In a short time, Bitcoin has risen in price by 33 percent. Other cryptocurrencies have followed the leading cryptocurrency.
Inflation data from the US and the EU rocked the markets. Inflation was declining rapidly in the US and EU economies, which have long struggled with the inflation problem. In parallel with this, a reassessment of the actions of central banks began.
Expectations that central banks will be able to slow down the pace of interest rate hikes and lower interest rates from mid-year in line with progress have risen. With these expectations, the market balances shifted. Gold reacted first. After that, cryptocurrencies began to rise from points where they had been dormant for a long time.
LEADING CRYPTOCURRENCY BITCOIN IS RISE
Bitcoin set an example for other cryptocurrencies with its strong upward movement. Along with bitcoin, popular cryptocurrencies such as Ethereum and Dogecoin gained strength. The total volume in cryptocurrencies has once again approached the $1 trillion limit.
BITCOIN LOOKS STRONG
Bitcoin rose from the long-awaited $16,000 to $21,000. Bitcoin, which has made a premium of around 30 percent in a short time, is currently trading at $21,160. Bitcoin hit an all-time high of $69,000 in November 2021.
ETHEREUM IS ALSO RISE
Although Ethereum, which follows the leading cryptocurrency Bitcoin, is far from its historical peak, it has made a leap from a point where it has been falling for a long time. Ethereum is currently trading at $1,569.
Dogecoin, the favorite cryptocurrency of billionaire businessman Elon Musk, continues its nasty course. Dogecoin is upsetting investors who expect it to wipe out the initial zero. Dogecoin is currently finding buyers at $0.08392 with a loss of around 4%.
RIPPLE IS A LOSS
Ripple prices have also fallen. Struggling with US lawsuits, Ripple is trading at $0.3864, down 4%.
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.
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.
HOW TO INVEST CRYPTO MONEY?
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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