If I show up at the time you buy, we recommend dedicating a small portion to this coin. Turtle coin now has a return of 4 times the amount you initially invested. This is not very impressive but it is also a good margin. I hope you didn't sell off your portfolios or lose all of them.
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Using cash increases the risk of viral infections, especially low-denominated currencies because they are backed often. Currently, cashless payment is a trend. There are many applications for online payment from banks, from licensed companies. Cryptocurrencies are still in their infancy, and they are better used to transfer money because the cost of payments is not in line with daily payments.
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To make Bitcoin increase by a few percent requires an extremely large amount of a few hundred million dollars or a few billion dollars. But for altcoin, just a few million dollars or tens of millions of dollars have made an altcoin increase by tens of percent. To evaluate the price increase factor need to look at the capitalization of cryptocurrencies and daily trading volume. Cryptocurrencies rise in price through news or the completion of a price chart pattern. So it is very difficult to determine growth in each cryptocurrency. The last time I saw Bitcoin grow strongly was about 10% in a day when Tesla announced it was buying Bitcoin in February of this year.
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Bitcoin fell sharply in April and quickly recovered. Along with that event is the fact that Tesla has announced 10% profit-taking on the amount of Bitcoin it has purchased previously. We don't know when institutions sell their Bitcoins, but if they all sell-off, the value of Bitcoin will drop drastically. I think they will have a plan to run away from the market without disturbing the entire market.
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I think the government cryptocurrency is a blockchain-based development currency. The government will require people to KYC, comply with many different regulations to combat fraud and money laundering. Government cryptocurrencies will be open source, the supply is unknown because the government has the authority to issue how much money they want. Bitcoin is decentralized, does not require KYC to hold, and is fixed at 21 million BTC. Bitcoin's value increases over time because of its rarity in mining and each halving. It can be said that Bitcoin is superior. Cryptocurrencies serve only government purposes. Bitcoin serves the purpose of its owner.
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Cryptocurrencies have helped many people become rich thanks to the shifting of assets around the world to cryptocurrencies. During a pandemic, cash flows from actual trading were drawn and transferred to gold, silver, stocks, foreign exchange and cryptocurrencies. The cryptocurrency market is still young and new, so the growth opportunities are increased as the cash inflow becomes larger, so during the pandemic, the market capitalization has tripled compared to the total ATH market in 2017. I believe that with the wide acceptance of investment companies and institutions around the world, cryptocurrencies will grow and expand their capitalization to hundreds of trillions of dollars. During the pandemic, cryptocurrencies helped many people to become rich.
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They are basically two different blockchains and they are not related. The address similarity between the two chains is because they have a bridge that is 100% compatible with each other. You can turn ERC20 into BEP20 if the project's token is integrative and convertible on the bridge that BSC built.
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China has been silently supporting cryptocurrencies and Bitcoin for many years. China has crypto projects, one of the major ones we know of is NEO. They have the largest Bitcoin mining plants in the world. Chinese people are banned from trading Bitcoin but are not forbidden to own them.
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The purpose of deflation tokens is to create scarcity for the token and maintain value for the project. Such projects are usually DEFI projects. The above projects are getting more and more frequent because duplication of the source code of previous projects occurs more often. Projects that survive and increase their value are projects of quality, continuous innovation, and strong communities.
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The most terrible shitcoin I know is Kimchi.finance This DEFI project started at $ 12 and then dropped dramatically to near worthlessness. DEFI devotees have followed the trend and hoped that Kimchi would be like Sushi, but they made a mistake and received severe consequences.
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At the time of the posting occurred, Bitcoin's price dropped the most so the demand for Bitcoin from exchanges to personal wallets was huge. That leads to the phenomenon of Bitcoin transaction fees soaring. Currently, Bitcoin transaction fees are no longer too high. Each Bitcoin costs $ 56k and $ 5 per transaction is really good. https://privacypros.io/tools/bitcoin-fee-estimator/
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If Ethereum's next upgrade doesn't really solve the problems of transaction costs and scalability, both users and projects will turn their backs on Ethereum. Over the past few months, transaction costs have brought fatigue to the users. Traders will not be highly profitable because they pay huge fees per transaction. Transaction costs and congestion also hinder new projects from developing on Ethereum.
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I think yes because the volatility of the cryptocurrency market is quite high and the transaction costs can be drastically reduced if you use a trading platform with good fees. Binance is one of the cryptocurrency exchanges with hierarchical transaction costs, they also have futures trading. So these will be favorable conditions for Scalping traders.
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If you want to make money quickly join IDO prospects revolve around Polkadot, NFT as they can bring wealth. Check out the institutions that invest in the project, the more large investment funds the project has the potential to increase in value after IDO. Joining IDO requires luck because being chosen on a whitelist is very low.
To participate in any IDO, you have to hold the native token of that platform where you are whitelisting. For example, on the Polkastarter, you will need 3000 Pols token to participate in any IDO. $9k worth of tokens. And even with this investment, there is no guarantee that you will get allocation. also if there is no new IDO on their platform, then their token will fall down very badly and there will be a huge reduction in the token price, so you can also suffer a huge loss. This is how it works. I know there are some advantages but don't forget its disadvantages. The trend is you and I believe the return on IDO deserves the risk you are talking about on the downside. With just a few successful IDO sessions you can make a significant amount of money to offset the possible losses. The market is FOMO and we can make money from that.
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Congratulations on your portfolio are well done. We are in a bull market, most cryptocurrencies are increasing in value. As a novice, making an early profit is good. Think about withdrawing some of your capital back to your wallet and plan to make a profit step by step.
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Money flows from one currency to another so I am not surprised that the altcoin rises in price after Bitcoin reaches $ 50K. TOP altcoins will continue to increase in price after Bitcoin increases. To realize this it is only possible to track the domain BTC.D. That's how the market has functioned over the years and has become the law of speculation.
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There are many risks in the cryptocurrency business. I can list them as follows: Scams from new projects, ICO or IDO mobilization projects on decentralized exchanges. Cryptocurrencies have very strong price volatility so do consider it when buying a cryptocurrency. FOMO in trading is something to stay away from as you can always lose money buying crypto. Beware of strangers who text you on telegram as most of them want to make money from you.
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If you want to make money quickly join IDO prospects revolve around Polkadot, NFT as they can bring wealth. Check out the institutions that invest in the project, the more large investment funds the project has the potential to increase in value after IDO. Joining IDO requires luck because being chosen on a whitelist is very low. Another way is to participate in the ICO on Coinlist. Most projects funded on this platform have a strong potential to add value.
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Polkadot has a strong community, but the technology remains questionable as projects that claim to be built on Polkadot still have to borrow Ethereum's placeholder code to raise capital. When thinking about Solana or Binance or EOS or NEO I realize that they are quite mature and allow development on their chain. Polkadot may be overvalued.
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Bitcoin does not die because the central banks because the right to print money are theirs, and they are responsible for regulating their own economy. If we look closely, we only see that Bitcoin serves only a small part of the exchange, circulation of money and goods. So it can be said that Bitcoin cannot kill banks. Bitcoin is simply changing economists' minds about money. Currently, countries like China, the US or the UK are researching blockchain, cryptocurrencies, and in the future they will create their own cryptocurrencies. Banks have many functions such as lending, saving money, paying, extending, paying taxes, ... Cryptocurrencies are just trying to create financial products like a bank. Cryptocurrencies are fast-paced, but they won't be widely recognized or circulated more often than banks.
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