cryptocurrency

Will crypto rise again in 2022 after crash?

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Written by Rajeev Kumar

Will crypto rise again? This is probably one of the biggest questions on the minds of every cryptocurrency user these days. The global cryptocurrency market has crashed massively in the last two weeks with several top crypto prices dropping to new lows in 2022. The price of  one of the top cryptos (Luna) even became almost equal to zero in the current downturn. However, despite the massive crash, this is probably not the worst global crypto community has faced till now. 

“In the past 9 years of operation of our company, we have seen multiple bear markets. We are not sure if the present dip is an indication of the bear market yet. Every bear market in the past has seen a recovery in 2-3 years and I don’t see any reason for this time to be different,” Sathvik Vishwanath, Co-Founder and CEO, Unocoin, tells FE Online. 

Malviya thinks cryptocurrencies can expect a recovery as soon as the world reverts back from the global economic meltdown. “The market sentiments definitely get disturbed by a blow like this. However, it revives only when the poorly built systems get eliminated.”

Meanwhile, the global crypto markets seem to have managed to weather the recent crash storm and several bluechip cryptos are again in the Green. Bitcoin has rebound to $30,000 level. 

At the time of writing this, cryptos like BNB, Cardano, XRP, Solana, Polkadot and Dogecoin have gained up to 9 per cent in the last 24 hours. While the global crypto market cap has increased by 3.36 percent to $1.31, Solana price jumped over 7 per cent to $53.6. Avalanche (Avax) price has increased by 8.52% to $32.09.

Click Here To Read More https://www.financialexpress.com/digital-currency/will-crypto-rise-again-in-2022-after-crash/2534597/

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Is Cryptocurrency a Good Investment?

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By Anders Bylund

It’s possible to get filthy rich by investing in cryptocurrency in 2022 — but you could also lose all of your money. Investing in crypto assets is risky but also potentially extremely profitable.

Cryptocurrency is a good investment if you want to gain direct exposure to the demand for digital currency. A safer but potentially less lucrative alternative is buying the stocks of companies with exposure to cryptocurrency.

Let’s examine the pros and cons of investing in cryptocurrency.

Is cryptocurrency safe?

Several factors make cryptocurrency a not entirely safe investment. However, other signs are emerging that cryptocurrency is here to stay.

Cryptocurrency risks

Cryptocurrency exchanges, more so than stock exchanges, are vulnerable to being hacked and becoming targets of other criminal activity. Security breaches have led to sizable losses for investors who have had their digital currencies stolen, spurring many exchanges and third-party insurers to begin offering protection against hacks. 

Safely storing cryptocurrencies is also more difficult than owning stocks or bonds. Cryptocurrency exchanges such as Coinbase (NASDAQ:COIN) make it fairly easy to buy and sell crypto assets such as Bitcoin (CRYPTO:BTC) and Ethereum (CRYPTO:ETH), but many people don’t like to keep their digital assets on exchanges due to the risks of allowing any company to control access to their assets.

Storing cryptocurrency on a centralized exchange means you don’t have full control over your assets. An exchange could freeze your assets based on a government request, or the exchange could go bankrupt and you’d have no recourse to recover your money.

Some cryptocurrency owners prefer offline “cold storage” options such as hardware wallets, but cold storage comes with its own set of challenges. The biggest is the risk of losing your private key; without a key, it’s impossible to access your cryptocurrency.

There’s also no guarantee that a crypto project you invest in will succeed. Competition is fierce among thousands of blockchain projects, and many projects are no more than scams. Only a small percentage of cryptocurrency projects will ultimately flourish.

Regulators may also crack down on the entire crypto industry, especially if governments view cryptocurrencies as a threat rather than an innovative technology.

The cutting-edge technology elements of cryptocurrency also increase the risks for investors. Much of the tech is still being developed and is not yet extensively proven in real-world scenarios.

Cryptocurrency adoption

Despite the risks, cryptocurrencies and the blockchain industry are growing stronger. Much-needed financial infrastructure is being built, and investors are increasingly able to access institutional-grade custody services. Professional and individual investors are gradually receiving the tools they need to manage and safeguard their crypto assets.

Crypto futures markets are being established, and many companies are gaining direct exposure to the cryptocurrency sector. Financial giants such as Block (NYSE:SQ) and PayPal (NASDAQ:PYPL) are making it easier to buy and sell cryptocurrency on their popular platforms. Other companies, including Block, have poured hundreds of millions of dollars into Bitcoin and other digital assets. Tesla (NASDAQ:TSLA) purchased $1.5 billion worth of Bitcoin in early 2021. By February 2022, the electric vehicle maker reported that it held almost $2 billion of the cryptocurrency. MicroStrategy (NASDAQ:MSTR) — a business intelligence software company — has been accumulating Bitcoin since 2020. It held $5.7 billion in the cryptocurrency by the end of 2021 and said it plans to buy more with excess cash generated from operations.

Although other factors still affect the riskiness of cryptocurrency, the increasing pace of adoption is a sign of a maturing industry. Individual investors and companies are seeking to gain direct exposure to cryptocurrency, considering it safe enough for investing large sums of money.

Click Here To Read More https://www.fool.com/investing/stock-market/market-sectors/financials/cryptocurrency-stocks/is-cryptocurrency-good-investment/

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Bitcoin Price Prediction 2022

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By Thomas Streissguth

Bitcoin, the original cryptocurrency, is made possible by blockchain technology, a method of generating and tracking digital assets. When Bitcoin is doing well, other cryptos are likely to be doing well. When Bitcoin’s doing poorly, other cryptos are likely also suffering. Nobody, however, seems to agree on the price of Bitcoin in the future.

Why 2021 Was a Good Year for Bitcoin

Over 2021, Bitcoin enjoyed a steep rise in its market value. At the start of the year, a single coin was valued at $32,000, and by April that number had doubled. Traders were optimistic that wider acceptance of Bitcoin by merchants and big banks would support the price. 

However, the promise outran the reality — there was still no way to use Bitcoin for much of anything except speculative, risky trading. A decline in the stock market in late 2021, and a fall in highly valued growth stocks, carried cryptocurrencies down as well. Bitcoin finished 2021 at about $47,300. 

The Risk-Off Trade

Bitcoin’s price continued to fall in early 2022, as did the stock market. Investors turned to assets that perform well in a time of a slowing economy, higher inflation and rising interest rates.

As cryptocurrency is still widely seen as a risky, speculative asset, this “risk-off” trade brought Bitcoin down to about $36,000 in late February 2022. This represents a loss of nearly half of the value Bitcoin reached at its November 2021 peak of $69,000, though has seen some recovery in late March 2022, at about $47,345.

Click Here To Read More https://www.gobankingrates.com/investing/crypto/bitcoin-price-prediction/

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Why Is Bitcoin’s Price Dropping?

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By ALLIE GRACE GARNETT

The price of Bitcoin (BTC) has generally been declining since November, although the cryptocurrency’s sharp price decline this week was likely triggered by rumors on Friday, Jan. 21, related to the U.S. regulation of digital assets.

Unidentified sources within the Biden administration said last week that the government is developing a strategy to address the economic, regulatory, and national security challenges posed by Bitcoin and other cryptocurrencies. The administration is reportedly also examining the opportunities created by the rise of digital assets, with the Biden administration’s strategy potentially being made public as soon as

This likely report from the administration, while welcomed by those who believe that Bitcoin can benefit from greater regulatory certainty, has triggered some traders to sell their Bitcoin holdings.1 Bitcoin’s price drop from more than $68,000 to current levels just above $37,000 is equivalent to the cryptocurrency losing nearly half its

The price of Bitcoin is also being affected by policy changes by the U.S. Federal Reserve. Federal Reserve Chair Jerome Powell said in December last year that the Federal Open Market Committee (FOMC) would double the monthly rate at which it reduces asset purchases. The Federal Reserve is now purchasing $20 billion less of U.S. Treasury securities each month and reducing by $10 billion each month its purchases of U.S. agency

In his post-meeting press conference on Jan. 26, 2022, Powell indicated that the FOMC will adhere to the bond purchase schedule that it announced in December 2021. While the fed funds rate is being kept near zero for now, developments related to inflation may change that. Keeping elevated inflation levels from becoming “entrenched” remains a key focus for the Fed.

Measures enacted by the Fed that are designed to control inflation have had a negative impact on the price of Bitcoin. The values of risky assets—like Bitcoin—tend to decline in the wake of the Federal Reserve making policy changes to become more fiscally conservative.

More broadly, as Bitcoin matures and becomes more widely adopted, the price of Bitcoin is increasingly correlated with the prices of traditional assets like stocks. This growing correlation means that any event that triggers price declines in the traditional markets is likely to trigger similar or greater price declines for Bitcoin.

The Dow Jones Industrial Average on Tuesday lost more than 800 points before rebounding to post a loss at closing of less than 100 points.3 Similarly, the S&P 500 lost nearly 3% of its value before rebounding to post a loss of less than 50 points.4 The Nasdaq Composite Index, which tracks all of the stocks listed on the Nasdaq stock exchange, lost more than 3% of its value at the session low on Tuesday.5 Several non-U.S. indexes are also experiencing volatility and price declines.

Read more https://www.investopedia.com/why-is-bitcoin-price-dropping-5216985#:~:text=The%20values%20of%20risky%20assets,of%20traditional%20assets%20like%20stocks.

Demystifying Cryptocurrencies, Blockchain, and ICOs

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By Jeffrey Mazer

Despite significant advancements, cryptocurrencies remain highly controversial; while some tout it as “the next internet,” others view Bitcoin as “evil.” At their simplest, they are the newest fintech fad; yet at their most complex, they’re a revolutionary technology challenging the political and social underpinnings of society. This article will demystify cryptocurrencies’ appeal, its complex underlying technology, and its value. It will also examine the accounting and regulatory, and privacy issues surrounding the space.

Introduction

Bitcoin, blockchain, initial coin offerings, ether, exchanges. As you’ve no doubt noticed, cryptocurrencies (and their corresponding jargon) have caused quite the uproar in the media, online forums, and perhaps even in your dinnertime conversations. Despite the buzz, the meanings of these terms still elude many people’s comprehension. Perhaps we could put it as simply as Stephen Colbert does below, but we’ll be a tad more precise.

Originally known for their reputation as havens for criminals and money launderers, cryptocurrencies have come a long way—with regards to both technological advancement and popularity. The cryptocurrency market cap has been projected to reach as high as $1-2 trillion in 2018. The technology underlying cryptocurrencies has been said to have powerful applications in various sectors ranging from healthcare to media.

With that said, cryptocurrencies remain controversial. While critics including economist Paul Krugman and Warren Buffet have called Bitcoin “evil” and a “mirage,” others, such as venture capitalist Marc Andreessen, tout them as “the next internet.” For every person declaring that cryptocurrencies are in a bubble, there’s another insisting that they are the next wave of the democratization of finance. At their simplest, they are merely the newest fintech fad; yet at the most complex level, they’re a revolutionary technology challenging the political, economic, and social underpinnings of society.

This article will attempt to demystify cryptocurrencies’ appeal, its complex underlying technology, and why a purely digital currency is able to have value. It will also examine the outstanding issues surrounding the space, including their evolving accounting and regulatory treatment.

What Is a Cryptocurrency and Why Use It?

Cryptocurrencies are digital assets that use cryptography, an encryption technique, for security. Cryptocurrencies are primarily used to buy and sell goods and services, though some newer cryptocurrencies also function to provide a set of rules or obligations for its holders—something we will discuss later. They possess no intrinsic value in that they are not redeemable for another commodity, such as gold. Unlike traditional currency, they are not issued by a central authority and are not considered legal tender.

At this point, use of cryptocurrencies is largely limited to “early adopters.” For scale, there are around 10 million Bitcoin holders worldwide, with around half holding Bitcoin purely for investment purposes. Objectively, cryptocurrencies are not necessary because government-backed currencies function adequately. For most adopters, the advantages of cryptocurrencies are theoretical. Therefore, mainstream adoption will only come when there is a significant tangible benefit of using a cryptocurrency. So what are the advantages to using them?

PSEUDONYMITY (NEAR ANONYMITY)

Buying goods and services with cryptocurrencies takes place online and does not require disclosure of identities. However, a common misconception about cryptocurrencies is that they guarantee completely anonymous transactions. What they actually offer is pseudonymity, which is a near-anonymous state. They allow consumers to complete purchases without providing personal information to merchants. However, from a law enforcement perspective, a transaction can be traced back to a person or entity. Still, amid rising concerns of identity theft and privacy, cryptocurrencies can offer advantages to users.

PEER-TO-PEER PURCHASING

One of the biggest benefits of cryptocurrencies is that they do not involve financial institution intermediaries. For merchants, the lack of a “middleman” lowers transaction costs. For consumers, there’s a tremendous advantage if the financial system is hacked or if the user does not trust the traditional system. For comparison’s sake, if a bank’s database were hacked or damaged, the bank would be completely reliant on its backups to restore any missing information. With cryptocurrencies, even if a portion were compromised, the remaining portions would continue to be able to confirm transactions.

Read more https://www.toptal.com/finance/market-research-analysts/cryptocurrency-market

3 Cryptocurrencies To Earn You Money While You Sleep

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By Ermos K

I’d firstly like to start off by thanking Michael K. Spencer for listing me as a Top Crypto Writer on Medium in 2018 (#28/100) — it means a lot to see my content and sharing of knowledge resonating with readers.

As mentioned in one of my previous posts, despite the bear market, not everything is doom and gloom. The technology that will revolutionize our lives still exists and is thriving. Alongside it, there are coins that you can earn passive income with, regardless if the market is green or red.

In Part 3 of my series, I will highlight another 3 Cryptocurrencies that allow you to earn a passive income. If you haven’t got the chance to read my previous ones, here are some convenient links: Part 1 | Part 2

“If you don’t find a way to make money while you sleep, you will work until you die” — Warren Buffett

Ontology (ONT)

Ontology is a diverse, integrated, distributed trust network and the infrastructure for building a trust ecosystem. Ontology encourages trust cooperation and allows projects of all shapes, sizes, and technologies with different business scenarios and compliance requirements to pass through Ontology’s chain networks and take advantage of the distributed trust network how they see fit.

Unlike all other coins I have discussed in the past (with the exception of VeChain Thor), Ontology is still very much a work in progress but one with huge potential and this can be seen by how well it’s performing even in this bear market. Just to give you an idea, it was launched on Binance at ~1.30$ and at the time of writing stands at ~7.42$ (a ~570% increase) as a time where the total cryptocurrency market cap has dropped by more than 13%.

Ontology will use a consensus mechanism called Verified Byzantine Fault Tolerance (VBFT).

VBFT is a new consensus algorithm that combines PoS, VRF (Verifiable Random Function), and BFT. With VBFT, Ontology nodes first apply for participation in network consensus through placing stake. Then, by using a verifiable random number, several nodes are selected from among all the consensus nodes. The selected nodes take the responsibility to propose, verify, and vote for new block(s).

The consensus mechanism is central to the passive income “piece” of Ontology. You can find more information about VBFT, here.

The Ontology network will feature a dual token mechanism that are bound together — ONT (the cryptocurrency coin of main chain services) & ONG (the utility token of main chain operations). By owning and holding ONT; you will passively earn ONG.

The Ontology Governance Model, which allows the ‘passive income’, is compromised by the “Triones Economic Model which uses ONT/ONG and combines the VBFT consensus algorithm and a consensus management smart contract”. You can find more information about the “Triones Consensus System Economic Model”, here.

In order to earn ONG, you will simply need to hold ONT in your wallet and ONG will accumulate over time. There is very little effort involved on your part. To get an idea on how much ONG you will generate, you can check this calculator.

You can purchase ONT on Binance, Huobi, KuCoin, Gate.io and many others.

Read more https://medium.com/hackernoon/3-cryptocurrencies-to-earn-you-money-while-you-sleep-part-3-24fd758b058a

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Should You Join the Crypto Craze?

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BY BRIT MORSE, ASSISTANT EDITOR, INC.

In February, Tesla announced in an SEC filing that it bought $1.5 billion in bitcoin. The company said while its goal is to accept payments in bitcoin, it also bought the block chain-based currency for “more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity.” Bitcoin boomed in 2020, rising 400 percent over the course of the year and topping $50,000 per bitcoin for the first time in early 2021, with Tesla CEO Elon Musk leading the Twitter cheerleading.

Should business owners follow in Musk’s footsteps and replace some of their working cash with crypto? The bitcoin run-up prompted Microsoft co-founder Bill Gates to sound a warning about swimming with the cryptocurrency sharks. “My general thought would be that if you have less money than Elon, you should probably watch out,” he said in an interview. 

One of the first questions to ask is whether bitcoin or blockchain technology will integrate well into your business. There are technical requirements. The more fundamental question is whether you have the assets–and the risk appetite–to put funds into such a volatile market. Here are a few things you should consider:

Mind the Volatility

Yes, bitcoin has had a huge run, but it remains subject to the vicissitudes of Musk’s mood and other trading influences. There’s far less risk (and potential return) in the dollar. Since bitcoin behaves more like a stock than a currency, it’s crucial to think about it in terms of risk and reward, says LJ Suzuki, founder and CEO of CFOShare, a Denver-based finance and accounting outsourcing company for small businesses.

Read More https://www.inc.com/brit-morse/bitcoin-crypto-blockchain-technology-small-business.html

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What is Cryptocurrency? Cryptocurrency Security: 4 Tips to Safely Invest in Cryptocurrency

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By Kaspersky

Technology has changed the way people work, communicate, shop and even pay for goods. Companies and consumers don’t always prefer cash anymore, and this behavior is giving way to contactless payments like Apple Pay. With the quick wave of a smartphone, consumers can pay for items at digital registers. Now, a new payment system is emerging: cryptocurrency.

Probably everyone heard about Bitcoin by now. It was the first cryptocurrency to go mainstream, but others are growing in popularity. There are more than 2,000 different types of cryptocurrencies, and more are developed every day.

Research suggests most people have heard of cryptocurrency but don’t fully understand what it is. So, what is it, is it secure and how do you invest in it? To help, we’ll answer those questions. Think of this as Cryptocurrency Investing 101.

What Is Cryptocurrency?

Cryptocurrency is a digital payment system that doesn’t rely on banks to verify transactions. It’s a peer-to-peer system that can enable anyone anywhere to send and receive payments. Instead of being physical money that is carried around and exchanged in the real world, cryptocurrency payments exist purely as digital entries to an online database that describe specific transactions. When you transfer cryptocurrency funds, the transactions are recorded in a public ledger. You store your cryptocurrency in a digital wallet.

Cryptocurrency got its name because it uses encryption to verify transactions. This means advanced coding is involved in storing and transmitting cryptocurrency data between wallets and to public ledgers. The aim of the encryption is to provide security and safety.

How Secure Is Cryptocurrency?

Cryptocurrencies are usually built using blockchain technology. Blockchain describes the way transactions are recorded into “blocks” and time stamped. It’s a fairly complex, technical process, but the result is a digital ledger of cryptocurrency transactions that’s hard for hackers to tamper with.

In addition, transactions require a two-factor authentication process. For instance, you might be asked to enter a username and password to start a transaction. Then, you might have to enter an authentication code that’s sent via text to your personal cell phone.

While securities are in place, that doesn’t mean cryptocurrencies are un-hackable. In fact, several high-dollar hacks have cost cryptocurrency startups heavily. Hackers hit Coincheck to the tune of $534 million and BitGrail for $195 million in 2018. That made them two of the biggest cryptocurrency hacks of 2018, according to Investopedia.

Read morehttps://www.kaspersky.com/resource-center/definitions/what-is-cryptocurrency

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How To Approach Cryptocurrency Investing

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ByJP_Buntinx

Exploring cryptocurrencies can give way to exciting market opportunities and profit-making. Navigating this ever-growing landscape is something novices tend to take lightly, however. While some crypto-assets will perform very well in the long run, not everything is worth investing in. 

A Slow And Steady Evolution

The cryptocurrency industry is now over ten years old and continues to evolve every day. Despite the current media attention, crypto-assets like Bitcoin and Litecoin have not seen much positive attention since their inception. The media, central banks, and governments have ridiculed the idea of Bitcoin and altcoins for a very long time. Slowly but surely, that narrative is changing for the better, although certain aspects remain a bit wonky.

For those who want to invest in cryptocurrencies, exploring the projects providing investment and monetary use cases is often the smart approach. Contrary to traditional instruments, cryptocurrencies can provide a faster, better, safer, and cheaper alternative to complete specific monetary actions. However, there are some potential trust issues to contend with, primarily due to a lack of regulation. 

As major companies begin exploring options in this industry, including the likes of Square, PayPal, and Tesla, there is a bright future ahead for Bitcoin and perhaps Ethereum. Whether that warrants investing in either of these currencies is a different matter. For investors, it is crucial to make this decision on their own accord after carefully evaluating the pros and cons. 

Read more https://vaultoro.com/how-to-approach-cryptocurrency-investing/