From a long-term perspective, the stock market is considered a wealth-building machine with an average of doubling investors’ money once every decade. In recent years, cryptocurrencies have been running circles around the stock market.
Today, this digital currency is standing in a crowded place with huge gains and significant upsides. However, the initial wave of the coronavirus pandemic resulted in crypto slipping as low as $141 billion. With a history since 2018, the peak of COVID-19 mildly affected the returns, but sadly, volatility suffered an impact in its long-range correlation structure.
Will crypto be back in 2024? Is bet365 here to stay? Let’s decode some possibilities.
Cryptocurrency & More
The digital currency is designed to work using encryption algorithms. It exists virtually or digitally and leverages cryptography to secure transactions. It is a people-to-people chain that can let anyone receive and send payments without relying on banks to verify transactions. The concept of crypto money has eliminated the potency of physical money. The first cryptocurrency, Bitcoin, was established in 2009 and is a major player today.
How Does Cryptocurrency Work?
Cryptocurrency units are generated through mining which involves solving mathematical problems using computer systems and being rewarded with coins. In the real world, the process of mining takes an estimated 30 days.
Buying, Selling & Storing
Users can buy these currencies from central exchanges, brokers or individual currency owners, store them and then spend using cryptographic wallets. The easiest platform to sell the currency would be Coinbase. Cryptocurrencies can be stored conveniently in digital wallets.
These cryptocurrencies can be transferred easily from one wallet to another and used to buy services or goods, exchange for cash or trade in them.
Why Should You Invest In Cryptocurrency?
- The blockchain technology that fuels cryptocurrency assures a high level of security.
- The entire crypto market is tamper-proof, decentralised and transparent.
- This digital currency system is self-managed and governed.
- Whether it is a domestic or an international transaction, it is lightning-fast.
- It is a great investment against inflation.
- Transaction fees are almost negligible.
- A major pro remains the ease of transfer.
Will Crypto Be Back In 2024?
Bitcoin is expected to enter a bull run sometime in 2024. One main reason being a burst of enthusiasm evoked by bitcoin halving. At present, the fair value of the primary cryptocurrency is around $30,000, but it is too low. In addition, Fed’s projection material is expected to have cut rates in 2024.
The sentiment on crypto is in panic mode because of investors losing more than half of their initial investment. Bitcoin exploded in 2021 with an all-time high and went through a major dip in 2022, with the Q2 being the worst-performing quarter in a decade. These negative events and shrinking interest from investors have led to the opine of crypto winter dominating the space.
In addition, Bitcoin halving in 2024, along with the FED’s ease of monetary policy, is expected to occur at the inception of 2024 by cutting the rate.
The long and short of it is that crypto was in dire straits but sees a boom around April 2025. The bust and boom of the crypto cycle follow from Bitcoin halving events. Also, remember the volatility of the crypto market is overriding. Do not place all your eggs in one basket.
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