As we start to approach the halfway mark of the year it’s time to dig into crypto and understand everything that has happened so far in 2022.
Back in 2021 everything looks great for BTC, people were calling for 100k BTC after we reached ATHs but as we watched, BTC just continued to crumble down and is sitting over 50% down from the high. This followed into 2022 where the two big “I”’s lurked in the background: Inflation and Interest rates. We watched how more news on this knocked the stock markets down and crypto markets followed right there with them. Fast forward to May and the Crypto world watched a collapse of a coin unfold in front of their eyes. Luna which was considered and still is (kinda) a powerhouse coin and network. We saw this coin go from over $100 to under a penny over a few days due to a flawed system that was never exposed till now. Research firms have confirmed roughly 9 large crypto wallets played a part in their destruction, claiming massive rewards in the short game. So we sit here still comparing the Crypto world as the wild Wild West. Situations like this shine the spot light on regulations which are actively being explored in the background and will this change Crypto for the good or bad? At this current time I do feel we have a temporary bottom formed but I still think a 21-23k range is more then possible for BTC and all other coins will follow.
Now comes the bigger question, why do so many people still come to the Crypto markets to trade ? Well the answers are real easy, 24/7 access to the markets 365 days of the year. No minimum amount required for each trade (allows smaller guys to be involved), no settlement time required, whatever you have available in your account to trade is available at any point of any day. Transaction and network fees are quite low which helps maximize profits and limit losses, and on top of all of this you have access to margin which allows you to short or go long in the markets. This is only available on certain platforms and makes a huge difference in trading Crypto. Those that are more computer friendly have the ability to code bots that are easily linked to API’s on select networks which allows your bot to trade 24/7 with a proven system (which is key). The Crypto Markets are here to stay and we here at OP will benefit from the short side, the long side and enjoy the continued evolution of Crypto. For those who have a interest in Crypto check out the link below for a 2 week free trial and come see what all the buzz is about !