Let's see a brief overview of the market for cryptocurrencies, and some tips to trade safely.
Actually, new questions arise every day because it is a market extremely flyto and in constant evolutionn, where each forecast has a large margin of error.
In this post we will try to describe the possible scenarios and factors to take into account in the coming months. Also, as more people enter this virtual market, we will see together some practical tips for the security of cryptocurrencies.
2021: The turning point of cryptocurrencies?
During this year, some things have changed:
- Important new factors have come into play: governments like China, famous investment funds, big companies like Tesla.
- People are beginning to talk about market regulation, especially from the point of view of the taxation of operations. In short, now the Tax Agency he wants his share.
- Months or years have passed since the launch of some projects related to Tokens y altcoins, and now we are beginning to see the valid ones and the ones that were a
- Small savers start to invest: Despite the fact that banking consultants oppose and discourage anyone from investing in such a volatile market, the long stagnation of the traditional market and the huge percentage of potential profits have begun to attract even the most advanced users. small and less experienced.
All these factors, combined with the dynamics of the stock market and other international markets, make 2021 a particularly bullish year, that is, uphill. Until today, the day Musk tweeted that Tesla will no longer accept Bitcoin As a payment method, optimism was strong and the market capitalization simply broke records (May 7, almost $2.5 trillion). In TodoAndroid, we recommend using trusted sites for cryptocurrency trading such as https://immediate-edge.co/es/
Many of the major cryptocurrencies are experiencing collapses of even more than 10%, given that, as always, Bitcoin exerts a driving effect on the entire market. Of that $2.500 trillion, a whopping $365 billion was erased following Musk's statement.
In short, we are facing a truly unpredictable market, where the interests of large companies collide with the hopes of speculators, and in the middle are those few legitimate and solid projects that have decided to bet on cryptocurrencies to finance themselves and function.
The future of cryptocurrencies
First of all, we can predict that in the medium term this moment of hype for cryptocurrencies will end. The pace of market growth is too fast to last forever.
Speculators' income could decline, making cryptocurrency trading less attractive than it has been in recent months. On the other hand, a reduction in volatility could attract investors of a higher caliber and with a less risk-oriented profile.
In addition, we know that for months the EU and the United States have been working on a regulatory framework that will apply to cryptocurrencies and the use of blockchain. The entry into force of the regulation, especially from the fiscal point of view, will change the balance even more.