Cryptocurrencies, Bitcoin rate rising and falling

Started by lokdown, Jul 24, 2022, 02:08 AM

Previous topic - Next topic

Do you earn on cryptocurrency?

Yes
1 (25%)
No
0 (0%)
Not involved
0 (0%)
Going to start
3 (75%)

Total Members Voted: 4

lokdownTopic starter

What is the opinion of the aristocrats regarding the future of Bitcoin's exchange rate? Have any of you engaged in cryptocurrency trading on exchanges, and if so, which ones and for what reason?

Perhaps some of you have even established your own platform. Personally, I began trading on Poloniex slightly over a week ago, and have made a modest profit. Although I was completely unfamiliar with this field last week, I have now gained some understanding of it. Please share your own experiences.
  •  

ezhabchik

I find Bitcoin relatively unexciting as it lacks the same level of volatility as certain other alternative coins. My primary earnings have come and are still coming from the top alternative coins, specifically Ripple, Ethereum and Litecoin.

Currently, I'm considering investing in Ethereum due to its significant decline in value, which is common with most other cryptocurrencies. However, my portfolio already contains a variety of alternative coins. Have any of you taken advantage of the recent market crash?
  •  

Adam Greer

In recent years, the value of Bitcoin and other cryptocurrencies has been closely linked to the monetary policies of the US Federal Reserve. Following the outbreak of the coronavirus pandemic in 2021, the regulator's quantitative easing measures created an advantageous investment environment in which both stocks and cryptocurrencies experienced growth.

However, Bloomberg warns in a May report that quantitative tightening may trigger the opposite effect. Recently, Bitcoin experienced a 14% drop in value, falling below $23,000 for the first time since 2021. Similarly, Ethereum also hit a new low, dropping to $1.8 thousand, its lowest value since July 2021. Joe DiPasquale, CEO of BitBull Capital cryptocurrency hedge fund, stated that an increase in interest rates, historical pace of monetary policy tightening, the strengthening of the US dollar against other currencies and a decline in global growth forecasts are all factors that will contribute to a decrease in the value of Bitcoin.
  •  

Mafpoorry

I view the aristocracy's opinions on the future of Bitcoin's exchange rate as a reflection of their vested interests and socio-economic positioning. The aristocrats, historically steeped in traditional forms of wealth accumulation, may exhibit caution or outright skepticism towards the volatile nature of cryptocurrencies. Their conservative outlook might stem from concerns about regulatory uncertainty, lack of intrinsic value, and the potential for market manipulation.

In delving into cryptocurrency trading, particularly on exchanges, I find that it presents a fascinating intersection of technology, finance, and human behavior. My personal engagement in this realm has been driven by a desire to understand the evolving dynamics of value exchange and the decentralized nature of digital assets. The choice to start trading on Poloniex, for instance, is a deliberate exploration of a platform known for its diverse range of cryptocurrencies and active trading community.

The rapid acquisition of knowledge in this domain has been both exhilarating and humbling. It has exposed the limitations of traditional economic frameworks while necessitating an adaptive approach to risk management and decision-making. The experience of making a modest profit within a short timeframe has opened my eyes to the potential of cryptocurrencies as a vehicle for financial growth, albeit one that demands continuous learning and vigilance.
  •