In the past year, it's without a doubt that weâve all experienced losses in the value of our assets. Looking at my Blockfolio that was once showing a pleasing $ amount to what it is today, you would think I sold off 70% of my assets. When in reality I actually bought 30% more of assets to try and minimize the losses.
When you imagine people who actually gained from this recent crash, traders come into mind. Traders have been buying and selling for months at a profit while the hodlers like myself have taken a beating in that time span. An unlikely thought would be a cryptocurrency that was actually gaining in $ value during this bear market.
Enter the Binance coin. Despite the current bear market, the Binance coin has seen a price increase of nearly 200% since December last year. [Had quick look at Coin Market Cap before posting this and it's up 14.72% today, which completes the 200% increase]. Impressive! It is a true testament to the value of cryptocurrencies not because of how much itâs worth but what it represents. The Binance coin is a utility token for one of the biggest cryptocurrency exchanges out there - the Binance exchange.
What the numbers show is that although the market has depreciated substantially over the past year, the popularity and use of cryptocurrency is continuing to grow. More and more people are turning to cryptocurrency as their investments and Itâs like I say once youâve crypto itâs hard to go back to conventional ways of trading because crypto is so efficient. Even though this is a new technology it is far ahead of traditional finance systems and itâs still improving each day.
When the market âcrashedâ early last year it got rid of the people who knew little about this technology and the unfortunate people who invested all their finances into it. The people that remained where the believers of what this technology is and what it will become to the world. Cryptocurrency and Blockchain technology have massive potential that I can only begin to imagine.
Its growth cannot be prevented as it will only grow from strength to strength and its value cannot be suppressed for long. Weâre at a stage right now where serious blockchain companies are setting up and preparing for the mass adoption of the technology. This is a time when you should be looking at which companies are busy at work and which ones are just waiting for the next bull run to make money.
Investing in companies that are investing in the future would be wise, companies such as Ethereum, EOS, Pillar, Veritaseum and Litecoin etc. These are companies that are building strong foundations, gearing up for the long haul and positioning themselves to be market leaders in the coming âNew Ageâ. Companies that are transparent about work they're doing behind-the-scenes are gold mines of the New Age. Follow them on social media and try to keep up with all the work their doing and picking winners wonât be such a gamble anymore because theyâll jump out right at you. Weâre at the front seat of it all watching it unfold right in front of us much thanks to the computer screen.
They say the early bird gets the worm but thatâs just not true in this space. You have to be wise about how you use and allocate your resources or you could see yourself losing it all. Decentralized systems have given us the power to take control of our assets and with that, we have the responsibility to secure them. That was part of the allure wasnât it or maybe weâve just forgotten? No system is perfect nor will we live long enough to see it perfected. Diversify your assets and take risks where affordable.
Thatâs all for today folks, please look forward to my next post this week. I will start writing regularly again so if crypto, finance, business or some insights on life are your thing then youâre reading the right blog. So please subscribe and upvote this post and weâll meet again on the next one.
Cheers. âïž
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