Well, every person is somewhat curious including me, why is this crypto down which is still in hype though is witnessing such drastic downfall, so I did some research on what are the reasons for such downfall
who are all responsible for such deeds and what will happen to the money invested by people in the market seeking 2x growth of their invested amount, This post will hopefully help,
It started when Mr.Elon musk [ceo tesla inc.] firstly announces that his company will start accepting bitcoin as one of their payment methods on 8 February and then, It follows a crash in mid-May following the decision by Tesla to no longer accept Bitcoin as payment for its vehicles, Musk’s shock post on Twitter had an immediate impact on Bitcoin’s value, which dropped $6 billion (£4.26b) It didn’t stop here just after his statement China came up with a complete ban on crypto! Now is your money safe? Let’s look into it!!
Is investing in cryptocurrency a good idea ?
All of us having the same thoughts one way or the other is your hardened earned money safe to invest in this market after seeing such negative influence of Elon Musk and the china ban well the answer
depends on what kind of patience you have sounded out of the line right, well to understand that you need to see how does the major coin performed in the past time. remember in “volatile market long term comes out to be a better option”
Images tell a lot right and we have so many good things in coming too one is EL SALVADOR adaptation of BTC. So yes your money is safe if you are up for long-hold diamond hands.
Since the commencement, the bitcoin price saw some major changes. and The start wasn’t as good but the growth skyrocketed year after year, and the process which helps in Bitcoin price bull run and maintains the identity is called HALVING.
although the crypto downfall has occurred long term holders have always gained in this market for the past few years therefore long hold seems promising
It is a process of limiting the supply of bitcoin, by halving the block reward after every four years.
ALT COINS TO WATCH
As we’re already aware that the supply of Bitcoins is finite, this leads us to the question of what are other Alternatives or altcoins to mine, trade, or hold and altcoins to watch out for.
Since the inception of cryptocurrency(BITCOINS), several other blockchains with their digital coins & tokens have joined the big game and altcoins with the most potential are Ethereum, Cardano, Ripple, Stellar, Dogecoin, USDT, Polkadot & many more and the best altcoins to buy now.
altcoins with most potential
It is the perfect solution for people looking for crypto coins other than BTC, it is the second-largest cryptocurrency by market capitalization, it’s supply at the current level is 115.97m which is a change of 4.45% from one year ago, it offers smart contract functionality,
eth price prediction is quite something u wanna know so if u see back then eth has already touched the 4000$ mark in the previous days
and assuming its blockchain functionality it’s very promising to invest in even its mining has increased in the past couple of months due to the upcoming project on which Vitalik Buterin the creator has commenced
Cardano is a public blockchain platform. It is open-source and decentralized, with consensus achieved using proof of stake. It can facilitate peer-to-peer transactions with its internal cryptocurrency Ada. Cardano was founded in 2015 by Ethereum co-founder Charles Hoskinson.
Cardano is a proof-of-stake blockchain platform: the first to be founded on peer-reviewed research and developed through evidence-based methods.
Doge was originally founded as a joke by Billy Markus & Jackson Palmer, the name and logo of dogecoin were taken from the popular Doge meme at the time. Dogecoin is the version of Luckycoin(and for those unfamiliar, Litecoin is a fork of Bitcoin). The Dogecoin blockchain can process roughly 30 transactions per second(TPS).
Each DOGE transaction costs roughly 1 cent USD, It is now the fourth biggest cryptocurrency with a market cap of $64 billion, it is available on several exchanges.
The Process of Dogecoin mining adds new coins to the supply every day, Elon Musk the CEO of Tesla Motors Inc. has major influence over Doge and is allegedly called DOGEFATHER.
So next time looking in crypto for instance you should know to doge.
Stellar is an open-source network for currencies and payments.
Stellar makes it possible to create, send and trade digital representations of all forms of money—dollars, pesos, bitcoin, pretty much anything. It’s designed so all the world’s financial systems can actually work together on a single network.
Ripple is a real-time gross settlement system, currency exchange, and remittance network created by Ripple Labs Inc., a US-based technology company.
Ripple is a blockchain-based digital payment network and protocol with its own cryptocurrency, XRP.
XRP is the currency that runs on a digital payment platform called RippleNet, which is on top of a distributed ledger database called XRP Ledger.
While RippleNet is run by a company called Ripple, the XRP Ledger is open-source and is not based on blockchain, but rather the previously mentioned distributed ledger database.
The RippleNet payment platform is a real-time gross settlement (RTGS) system that aims to enable instant monetary transactions globally. While XRP is the cryptocurrency native to the XRP Ledger, you can actually use any currency to transact on the platform.
SafeMoon is a Cryptocurrency token created in March 2021 on the Safemoon Binance Smart Chain blockchain. SafeMoon multiplied rapidly in value after a wave of celebrity endorsements and SafeMoon hit a high of $0.00001375 in April 2021 before falling over 70% down to $0.000003919 as of June 2021 with around 2.3 million holders on the PancakeSwap exchange alone.
The token has been described as a “meme coin” alongside Dogecoin and Shiba Inu with much of its value attributed to the result of a Market frenzy.
The developers of SafeMoon & Safemoon exchange have been described as having “little proof of previous success”, with the token having been described by some financial experts as a “pump and dump”] a “cult stock”, “meme stock”, “the furthest thing from safe” and that it “doesn’t do anything”.
The price of a SafeMoon Coin/token multiplied by 12x during a single week in April 2021, Now the question arises, from where to buy Safemoon
The answer is so simple either from their Safemoon crypto website or other crypto trading platforms.
One should only invest in these tokens when they are ready to take risks with no guarantees, or else it is one of the hottest in the market.
AND OTHER PROMISING TOKENS TO BUY ARE MATIC, earlier used to polygon network a payment solution for Ethereum making the transaction fast and eth price fees low.
In the end, I would like to add that investing in cryptocurrency is not something to rely on completely. I mean yes the results are quite surprising and everyone wants more and more money in their banks or crypto wallets anyway if you have made your mind to be a smart investor make sure to only put your money on the alternative coin list I have talked about there is token too that I have mentioned . “put the amount of money you won’t regret losing“ will be my advise for new investors and secondly “believe in the long term more than short term” gains you will have greater rewards comparing, hope this helped don’t forget to contact us for any queries many more knowledgable articles coming in the future.