In less than 30 hours half of this year will be upon us. Probably you are moving well into your plan for this year. As long you are in business, it is never late to do good things for yourself. Looking at $BTC returns for this year it is neck to neck with last year. We have different arrangements in favor of a positive growth in crypto. It translates accordingly with what the market can do.
Looking at this percentage from last year, we can be sure there is something like a hiccups by July and August. From there September to December should be smooth sailing. Put in place this is election year all over the world, it could be a cataclysm not to annoy anyone with crypto in mind. It serves well a purpose where crypto is gaining market share in the mind of politicians. There are a lot of donations to be made from all sides.
Apart from this adventure, having #etf now with $BTC and $ETH will bring more eyes into crypto. I have been thinking #etf along, will propel crypto value. Not so fast the current status quo tends to favor if you are a long time. I have read that #etf just doing the movement with crypto insight. When you read the monstruous number of dollar jumping from #grayscale to #ibit and others, BTC is still shy of its all time high of $72k.
Too many pressure from al fronts, it will grow slowly but surely. It looks closer that $60k is here to stay. The resistance is stronger every minute. While some are buying, many more are taking profit. Due to opportunistic elsewhere the market favors big hand with a trend to pump. If you did not get into BTC while it was below 60k, it will be hard to think you want it at 70k. Due to volatility, crypto is still the best performing asset ever.
146% for a year, not bad when you can hold firmly. Let hope you hold some crypto.
Lately it makes little difference where you are. Whatever you hold, the minute you need to exchange, many has to go through btc to do so. This is why having many avenue in crypto prove to be beneficial.
Having many cryptocurrencies can be beneficial for the market for several reasons
For example, innovation and Competition. A diverse range of cryptocurrencies encourages innovation and competition. Different projects experiment with various technologies and use cases, driving advancements in blockchain technology and financial systems. What BTC can do in a part of the world, #HIVE can do a lot better due to easy access.
Different cryptocurrencies often serve different purposes. Some are designed for privacy (e.g., Monero), others for smart contracts (e.g., Ethereum), or for fast transactions (e.g., Litecoin). This specialization allows users to choose the best tool for their specific needs. It could be the entry model fit for a system where this token find a niche suitable for the need of an area in the digital world.
A wide variety of cryptocurrencies enhances decentralization in the market. It prevents dominance by a single entity or currency, reducing the risk of monopolistic control and increasing the resilience of the ecosystem. It take me a while to fully embrace this aspect. It is worth to note the power behind its communities.
Opportunities offered by crypto to understand investments are the reason it will grow to empower the world. A diverse range of cryptocurrencies provides investors with various options, enabling portfolio diversification. This can potentially reduce risk and increase potential returns. Financial Inclusion: Different cryptocurrencies can cater to different regions and communities, promoting financial inclusion. They can offer financial services to unbanked or underbanked populations, especially in areas where traditional banking infrastructure is lacking.
Having many cryptocurrencies allows the exploration of different use cases and applications, from supply chain management to digital identity verification, beyond just financial transactions. Blockchain technology offers so many. The next 10 years will be a key to what crypto will become.
Overall, the presence of multiple cryptocurrencies contributes to a dynamic, innovative, and resilient market, fostering broader adoption and development of blockchain technology. IF you encounter the value of crypto in 2024 you are still in the game. Your intellect with your pocket will dictate the rest. Keep on vesting in yourself.