bitcoin prices and outlook

the crypto trading offers many options to operators because of its accessibility. But the cryptocurrency market has been experiencing turbulence for the past few months. Despite the instability, it remains competitive and trade btcusdt are continuing. Bitcoin and its competitors still attract investors because of optimistic analyst forecasts.

Where to trade btcusdt?

The fall in cryptocurrency prices has not overshadowed the interest of btcusdt among traders. In the hope of a revival of value, exchanges are still as numerous around bitcoin. Traders move their pawns in order to grow their portfolios in the short or long term. Bitcoin (BTC) is a compass for the cryptocurrency market, but its association with the USDT which is a stablecoin offers more security. btcusdt transactions are possible on KuCoin which offers unprecedented opportunities for the btc trading. It even offers beginners the opportunity to trade without risking their investments with bids starting at $1.

Deciphering the fall in bitcoin prices

The value of Bitcoin has been falling since the start of the year. Despite a dizzying fall, the situation does not discourage traders who are aware of the volatility of this currency. The first cryptocurrency has gone from a record high of $64,900 in April 2021 to $20,501.20 at present. It was a plunge of more than 50% that dragged all other digital currencies into the abyss. The latter pay a heavier price with considerable reductions. In this unfavorable situation, companies in the field are even carrying out massive layoffs.

The Bear Market period that the cryptocurrency is experiencing is attributable to various factors, including the overselling of Bitcoin. Specialists also point to inflation and the ongoing global economic recession. The poor posture of the technology market is also cited as a cause. The fall was reportedly precipitated by the cessation of withdrawals and transactions on the Celsius Network platform which lacked liquidity. The debacle of Terra Luna and its stablecoin UST following an attack also had a direct effect on the bitcoin course. The FED’s next monetary policy would also have caused investor mistrust. The latter fear the setting of a higher than expected key rate.

How to prepare?

It’s not the best time to consider profitability with crypto trading, but now is a good time to buy bitcoins.

What the sequel to 2022 promises for cryptocurrencies

All cryptocurrencies are in trouble. Insignificant rebounds have been noticed after the deepening of the crisis, but these signals are too weak. Even if it means curbing traders’ ambitions, observers are not optimistic for a definitive recovery in 2022. The global economic situation remains explosive, so the trend should last for a few more months. The war in Ukraine and the hints of the health crisis are not helping the cryptocurrency market.

There is currently a massive sale of assets on btc trading platforms like KuCoin. People with well-filled wallets before the crisis started want to reduce the risk of loss. This situation benefits new investors who take the opportunity to buy bitcoins while its value is falling. They especially hope to make a capital gain at the time of the recovery.

What are the long-term prospects?

In the immediate future, Bitcoin and other cryptocurrencies will not experience a significant rebound. Industry analysts are unanimous on this forecast. But they harbor hopes of recovery in the long term. Indicators such as Wallet Investor expect Bitcoin to rise to 37,000 USD in 1 year. We are far from the absolute record recorded by the leader of cryptocurrencies. Nevertheless, this rise is about 90% of the current value and is approaching its stable level (USD 40,000).

Enough to encourage traders to seize the opportunities to sell at a loss which are multiplying. But these investments are risky even if the financial market in general is favorable to buying on the downside. Leverage is the only maneuver to avoid in order not to suffer considerable losses or at worst face debt.

Adoption of Blockchain technologies

Like all cryptocurrencies, the blockchain Bitcoin does without intermediaries to facilitate transactions. At the highest, it evolved into the traditional spheres. Major stock market institutions such as Goldman Sachs or JPMorgan Chase have even created departments dedicated to cryptocurrencies. This democratization has continued beyond the financial sphere.

The case of countries

To facilitate access to the financial system, El Salvador adopted Bitcoin as legal tender in 2021 and became the first nation in the world to take this initiative. In April 2022, the Central African Republic followed suit in this Central American country. The Central African government has ignored IMF warnings by designating Bitcoin as the national reference currency. In addition to well-known cryptocurrencies, some countries have taken inspiration from Blockchain technology to create or consider their own electronic currencies.

China has notably launched a digital version of the Yuan. According to the Capital media, projects of this type are under study in the euro zone, the USA, South Africa, India, Pakistan and Thailand. The Central African Republic also plans to launch Sango soon to supplement Bitcoin. Still on the subject of states, Ukraine accepted 100 million euros in cryptocurrency donations at the start of the conflict between it and Russia.

The business case

Bitcoin has also established itself as an alternative means of payment. Many companies accept transfers from customers to their e-wallets. The best known is Tesla of the American billionaire Elon Musk who is also favorable to Dogecoin; a blockchain-based currency. Other big companies like Microsoft, Reddit, KFC Canada, Wikipedia or Virgin Galactic have adopted Bitcoin. This currency can be used to pay for various purchases in more than 15,000 places in the world according to statistics from the Coinmap site.

Published on 07/11/22 08:21

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