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10 things you should know from the chaotic world of cryptocurrencies
Against the unpleasant background of the crypto market right now, we launched a search engine to see what’s new in the world of cryptocurrencies. Even if you don’t know your bitcoin from your blockchain, we hope that this summary will be useful and fun for you.
Here are 10 things you should know from the chaotic world of cryptocurrencies:
1. The crypto and the stock market are in it
So, what happened? That’s a trillion-dollar question. At Slate, Aaron Mak offers some possible explanations for the Crypt crash. One theory: the decline in bitcoin may be part of a larger story that has seen stock markets fall since early 2022. “While more traditional investors have joined the cryptocurrencies in the last two years, stock markets and bitcoins are increasingly intertwined,” Mak wrote. “The spectre of future regulation could also scare investors, it is expected to issue a federal strategy for cryptocurrencies.
2. Winter can come
Do you remember that today’s cryptocurrency trading is bad? According to CNBC, this could get worse. Some investors and observers believe the “crypto site” has come, while others are calling for the cold. “Last year – especially with all the hype in this market – it seemed that many developers were distracted by easy profits from speculation about NFTs and other digital assets,” Nadya Ivanov said of the research company. Workshop. “The cooling-off period could be an opportunity to start building the foundations of the market.”
3. Beware of scams
Surprise, surprise: cryptocurrencies kidnap Canadians. Just ask a Quebec man who recently lost $ 141,000 what the police are investigating as a fraud. “This type of Wild West is currently on the crypto active market,” said Wes Lafortune, spokesman for Better Business Bureau Serving Southern Alberta and East Kootenay, Global News. “It’s a big problem. It exploded.”
4. Crypto is dirty money – literally
A difficult investment climate is one thing, but if you haven’t heard, cryptocurrency is also not good for the current climate. This does not deter Albert Prime Minister Jason Kenney, who distorts the National Observer on ed because he came to the party too late with his plans to withdraw cryptographic contracts to the province. Max Fawcett also pointed out that bitcoin mining “consumes 121.36 terawatt-hours of electricity per year, more than Google, Apple, Facebook and Microsoft combined,” according to a University of Cambridge study.
5. There is a case for playing Crypto-long
To hear this from some investors, rising inflation and the likely rise in US interest rates are good reasons to risk cryptocurrencies. Amy Legate-Wolf, who writes for The Motley Fool, proposes to capitalize on the recent price cuts by acquiring ether and bitcoin. “Having a coin anywhere in the world offers you the opportunity to take advantage of today’s price drop and fix it,” says Legate-Wolf. “If the market returns and companies reinvest in cryptocurrency, you can use these coins for decades, no matter what happens in the future.”