Undoubtedly, cryptocurrency has risen globally, even amidst the pandemic. Although there is much to be explored about this evolving technology, Cryptocurrency remains one of the most searched topics on the Internet today. So, if you want to trade cryptocurrencies, especially Bitcoin, check the procedure and requirements in bitcoin to learn better!
The recent slump of Bitcoin as a new variant of COVID-19 spooked
Towards the end of November 2021, bitcoin tumbled to 8% as the news came in for the latest variant of COVID-19. Indeed bitcoin is popularly the largest Cryptocurrency and saw a plunge of 20% straightway.
While that was one news of Bitcoin, there was another downfall in the value of altcoins. The second-biggest Cryptocurrency that comes in with market capitalization is Ethereum. The coin saw a decline of 11.6% to its lowest in the week. Indeed, the European stocks were falling, which may be one reason why the investors are now giving up on riskier assets.
So, the question lingers around for every investor- can Cryptocurrency be a trustful way to earn money?
Trust about Cryptocurrency after Covid-19
Trading and investing in Cryptocurrency has become investing in a trust-less system now! There are infinitely many supporters of Bitcoin and altcoins who are now claiming that these systems are trustless.
No wonder a coin that gave higher returns at one point may slip down to the lowest of its value in 12 hours! The transactional values are not directly tied with any country or a state. Plus, there is no regulatory body that makes their protocols to transact. So, more or less, the rules to trade bitcoin still apply to altcoins.
Some also argue that money from cryptocurrencies or itself is superior to traditional currencies across all the countries. Thus, whether you have a positive opinion about Cryptocurrency, it hasn’t to do anything about the changes in the value. People are still relying on the under-developed infrastructures of cryptocurrencies, which backs majorly from China.
The Covid-19 pandemic has undoubtedly changed the graph for most of the cryptocurrencies. As per their will, the Chinese government may play a vital role in making changes in these digital coins, as per their will!
Did you hear about “Omnicron” Cryptocurrency?
After WHO gave the new variant a similar name as the cryptocurrency “Omnicron,” Omnicron’s Cryptocurrency saw a shoot up by 900%! While the new variant was first identified in South Africa on 23rd November 2021, its name was given on 26th November 2021.
Note that even when the other cryptocurrencies saw a sudden downfall in their value, “Omnicron” cryptocurrency saw a steep rise. It is an Ethereum based cryptocurrency and has limited access for trading currently through different applications.
So, is stable coins an answer to the pandemic?
The US used to have a standard on gold. Similar to it now, stable coins are growing enormously. Cryptocurrency with assets is known to hold real value in today’s times. Virtual money is overpowering traditional currency, and people are investing in volumes to make money through Cryptocurrency.
While some of the users lose money, some make huge. And after the pandemic, Cryptocurrency will certainly grow indefinitely. So there is a potential to the market as more people join every day. Moreover, the pandemic has given people the flexibility to work with flexibility. And to be practical, the flexibility to work and perform has given better ways to look for additional sources of income to everyone.
With work-from-home opportunities, people can effectively utilize their time and study the cryptocurrency graphs to understand the market. If you are new to the world of Bitcoin and Cryptocurrency, join the Bitcoin Era to master trading!
Cryptocurrency’s future outlook
While the world is witnessing the emergence of the new variant of COVID-19, cryptocurrency trading and investment are still on the rise. Today, 1 in every ten people invest in cryptocurrencies, a huge number as per the available reports. Moreover, with almost 65% of the users jumping into the asset class last year itself, Cryptocurrency seems like a blooming market to raise your money, only if done right!
Remember that education is the key to earning more from cryptocurrencies. It’s said that making money from crypto is all luck- but this is not the case. You should know the right time to invest and the suitable time to sell the crypto-only, then you can earn better from it!
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