6 Reasons to Meet Cryptocurrency in the New Year
While crypto coins attract the attention of more and more investors every day due to their increasing popularity in recent times, the vast majority of people who watch the crypto money world from a distance still prefer to approach it cautiously. However, recent history has shown us that crypto coins are a good investment. So why should we invest in cryptocurrency? We have listed six items for you.
1. High Returns
Although cryptocurrencies have been around for a short time, it has been proven time and time again in recent times that cryptocurrencies are one of the investment vehicles with the highest return potential. For example, let’s compare Bitcoin, gold and Dollar returns for 2020. Gold, which started 2020 at a price of TL 297, closed the year with a 53% increase of TL 453, while the US Dollar, which had a price of TL 5.96 on January 1, was traded at TL 7.40 on December 31, an increase of 24% year-on-year. For Bitcoin investors, 2020 was much brighter. While a Bitcoin price on January 1, 2020 was 7,200 USD, we closed the year at 29,000 USD. This equates to a return of 302%… It is worth mentioning that, despite everything, cryptocurrencies are high-risk investment vehicles and there is no certainty of high returns. For this reason, investors need to invest with the right strategy.
2. High Volatility
One of the most important features for an investment vehicle is that it has high volatility; In other words, we can say that it can be easily traded when desired. Crypto coins have very high volatility. It is possible to trade easily and quickly. You can quickly buy cryptocurrency from Icrypex.
3. An Independent Alternative
The global economy has lacked attractive investment opportunities for individual and institutional investors in recent years due to various factors such as inflation and currency imbalances. For this reason, crypto coins have become a good alternative for some investors.
4. Technical Analysis
If you don’t have past experience, daily trading on cryptocurrency exchanges can cause more harm than return. Price fluctuations in cryptocurrencies happen daily, even instantaneously, and usually these fluctuations are much larger than you may be used to from regular currencies. For this reason, you can close this gap by following the predictions of experienced analysts. Icrypex daily newsletters are a good resource for you to follow the support and resistance levels of cryptocurrencies and news from the industry.
5. Closed to State Intervention
Another feature of cryptocurrencies is that they are not regulated by governments like national currencies. National currencies; They can be affected by international sanctions and other factors and experience sudden depreciation against other currencies as a result of the decisions taken by governments. For this reason, crypto coins are used by many people as a means of value protection or even profit against risky currencies. Both user anonymity in crypto coins is in question and crypto currencies can be easily converted to different currencies. Fund transfers to overseas countries can be realized much easier, faster and more securely thanks to blockchain technology. This makes cryptocurrencies a good, safe alternative for everyone, regardless of race, color, country of origin.
6. Rising Demand
When Bitcoin was created 12 years ago, many people could not have predicted that Bitcoin would inspire such a growing following and the birth of many other cryptocurrencies. So much so that today there are more than 2,000 digital tokens and the areas of use of tokens are increasing. Bitcoin has certainly influenced the traditional financial system with the innovations it has brought, and these innovations will attract many more people to cryptocurrencies.