Cryptocurrencies have created so much buzz in the past couple of years they have become difficult to ignore them. Bitcoin The “First ever our site Cryptocurrency”, has captured the public’s attention and challenged the very way that institutions do business.
The way that institutions conduct business has shifted. Crypto millionaires are already an increasing number in Q4 2021. Cryptocurrencies such as Bitcoin, Ethereum, Solana are rising to all time highs, indicating the ascension of another bull run. The average investor is still thinking about the potential gains. The average investor is both excited and apprehensive about the tales of rich people gaining wealth through crypto.
At the very least, Bitcoin was in deep waters, only a couple of months back. Why? because Tesla was adamant about not accepting Bitcoins as a means of payment citing environmental concerns. Tesla agreed to this change a couple of months ago. Bitcoin and the whole crypto market fell as a result. The market was flooded with huge amounts of cash. China was also a part of the problem by imposing a strict ban on mining and use of any cryptocurrency in the near future. But the launch of the Bitcoin ETF within the New York Stock Exchange, has suddenly revived the market. Bitcoin and other mainstream currencies have reached new highs.
Outperform the Elites
Bitcoin
How can we ignore Bitcoin when it comes to performance? Since its start, Bitcoin has risen to thousands and thousands of percentage of the amount it was. For a better understanding the situation, if you’d put an amount of $1000 in Bitcoin in the past decade, your investments could now have turned into more than $15 million today. That’s assuming that you don’t sell your Bitcoins over time. Bitcoin’s growth rate has been 372%, despite the dramatic increase and decrease in the past year.
Ethereum
The next on the list is Ethereum second largest cryptocurrency worldwide. It is not often referred to as the next big trend, Ethereum with its smart contracts and dApps (Decentralized Application building ecosystem), is well and truly a technology worth admiring. With over 500% growth over the past year, Ethereum might soon dethrone Bitcoin as the most apex cryptocurrency.
Dogecoin
This one is interesting, Dogecoin was originally released as a meme coin, because of the enthusiasm for crypto in 2015. It was a idea the creators came up with as a joke. Dogecoin isn’t the most appealing features when it comes down to a real life use-case. However, those who put money into it in the last year would have benefited from a huge 19000% gain on their investments. Dogecoin is a crypto currency that is well-known in the cryptosphere is backed by a large community and a lot of people who support it. Elon Musk is one the main figures that have repeatedly been a proponent of the meme currency through his social media posts, which has caused an increase in its value.
With such high percentages of gains, a few financial pundits reckon that the Crypto space is either exaggerated or has reached its limits. We all know that Cryptocurrency prices are driven purely from speculation, or the demands of the average investor. That’s why it’s difficult to estimate “What price is suitable for a particular crypto-currency. Very few have been successful in the crypto world however, the majority of them lost money in the last bull run. So, have we missed the crypto train? Does the cryptocurrency market have been done and over with all the gains it has made?
Crypto isn’t over, but it has seen its beginning boom
Crypto has already hit an all-time high of a trillion dollars in value, yet institutions are only just starting to look into it. True, the Crypto boom is still in its infant stage, but it is looking at a long and sustained upward growth. A number of financial institutions have introduced crypto-currencies to their portfolios. The tech companies are not as far behind to make the most of this latest technological marvel. Regulation is also an important element of Cryptocurrencies. Recently, El Salvador became the first nation to make Bitcoin as legal tender. Since the time, its regulators are constantly working on laying the framework for currency use. Many other countries are also working or trying to find ways to regulate this new method of technology.
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