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Babubu609

What is the Reality of cryptocurrency?

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It is not only about profit but it turns out that many cryptocurrency developers have only that in their mind, so they either fail or make it and then have the holders of the coin curse them for losing their money, as the devs usually own a large piece of the coin supply and dump it on exchanges when prices rise.

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The reality is that most are not worth anything and are traded with high volumes while they aren't used at all. We can use some cryptocurrencies but most not so we have to be careful when we invest in this space and try to find a few opportunities. Some coins are used and have very good technology and we have to stick to them. These are Bitcoin, XRP , Ethereum. 

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You are right and most of us did everything we could during the pandemic and the lockdown to help cryptocurrencies and made investments too and some money but we were in high risk too, we had to buy in these conditions and tell everybody that it was safe investments.

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On 5/5/2020 at 3:19 PM, Babubu609 said:

There are many people that before they start cryptocurrency they didn't believe they can be rich from cryptocurrency until they learn about how a friend become rich with cryptocurrency.

My dear I am found a lot that is not very true, get rich is a catch and it is not real. We are can make money and we can lose a lot and get poor too. I am never say anybody they will get rich because this is very wrong to do. They will say that we are scammer if they are not make money and lose too.

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Cryptocurrency is the new technology driven digital curreency. It can help this world from the so many prospectives.Yes cryptocurrency is real and it is perfectly working.

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I really try to learn about that and I understand what you mean that we can earn something by working for them but I can't find a way to get rich unless we risk a lot of our money in investing in a few of them.

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It's the advance technological economic drive, competing with the fiat currency which in nearest future shall overtake fiat world serving as alternative means of making fastest and smart transactions internationally. 

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On 5/5/2020 at 3:19 PM, Babubu609 said:

Cryptocurrency gives us a medium to ease our stress from seeking for job outside instead you use your phone to make money while you are at home

I wish it was this simple. I try but a real job will still pay a lot more from what I earn and the risk is real. I traded and still trade but I risk with money I earned and if I lose it or prices start going down a lot it will mean I was here for nothing. I just hope that my coins will start rising and I can earn from online jobs too because after the covid finding a job is harder everywhere in the world.

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On 5/5/2020 at 3:49 PM, rekter said:

That's really not the answer. People seem to be focusing on the "getting rich" -part when they really should be asking the questions like that how do crypotocurrencies work and what are different cryptocurrencies for. That's where the value comes from in the first place.

Yes, many beginners make the same mistake, which is to search for wealth before searching for knowledge, and we must advise them that knowledge is much more important than wealth because it is the first correct step to making money.

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It is a game of hodl. We can buy some altcoins that are famous and have a good community like ethereum and ripple and for no reason price can drop. We have a decision to sell them in fear because we don't like losing or to hold. If we bought in low prices where there is a good chance to sell later higher we don't need to sell at a loss. This is a good time to buy and trade but without fear. We should have fear in all time highs only.

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What we spend on printing currencies will be very big. These can be used on some other needs. So varied form cryptocurrency can help here. Also with cryptocurrency we can fully control what is ours and the nice thing is that no one knows how much wealth we have in cryptocurrency.

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The reality of the crypto market is that it is a great business and in this business peoples will change their life in it in a short time. Crypto market world best and great market and it is going to be legal in all over the world so soon.

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i see cryptocurrencies was a great chance for people to be able to make money during covid-19 situation but still can't agree to take it as a full-time job , working in crypto can help by making additional income for people and also for  those who don't have jobs to be able to keep buying the daily needs but to get rich of it this will take long time of anyone because like any other job you will need experience and knowledge about the field , and also you will need to have lots of money to invest and trade with to make more , other than that you may be only able to make good profit that help you to continue living , not more than that

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Although some of your facts its true there are some parts of it contradicts the reality of it especially with annoying scammers and spammers still wandering around and they wouldn't just give up so many failed attempts to ruin it.

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I agree with you, the reality of cryptocurrency people join and learn cryptocurrency to get rich here, because the opportunity to get rich quick is in the crypto world, when compared to jobs in the real world it is very difficult to get rich. Nobody studies cryptocurrency not for money reasons, for sure people are here to get money and wealth.

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The current reality of cryptocurrency primarily boils down to speculation, luckily though DeFi projects are starting to give attractive opportunities to leave centralized finances behind. I guess the reality most of us would like to live is when cryptocurrencies can finally play a common role in our daily lives, such that we no longer need banks or centralized financial institutions. 

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I agree with you the crypto is a great innovation, the people are always try  to find a new and easiest way to transaction as well. The best feature of the crypto is that the coins and the money is most of the time is untraceable. This is the peoples nature that the people don't like to be trace. 

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It's really an amazing currancy because it's now increasing digital currency by that we can make transection from one counrty to other. And by this we can earn more by trading and can get profit.

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The reality of cryptocurrency has a high price and can give people income and can get rich because of it. Cryptocurrency is a digital asset that can be traded and invested in the future, many people do not believe cryptocurrency can make money, in fact cryptocurrency can make someone change his life, from poor to rich. There are still many areas of cryptocurrency that you may not know about, so join the cryptocurrency world.

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I know most of us see cryptocurrency as an extra source of income but maybe we are seeing this in a wrong way. Why are there holders in Bitcoin since 2009 and 2010 and didn't sell. There are billionaires that think of Bitcoin as an investment and we are trying to make profit in USD now for just close to a wage to make it matter. But are we missing perhaps the bigger picture which will be Bitcoin growing above all fiat currencies and becoming a never ending rising investment. It can be twenty years later that we say to ourselves why didn't we held this 0,1BTC. Maybe it will be too important and maybe we need not care about short term profits at all but put everything into Bitcoin.

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Cryptocurrencies came to replace the current financial system. I've been educating myself financially for a while and my goal for the next few years is to live from what I am so passionate about!

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The reality of cryptocurrency is that it is having high prices became it having limited supply, and also it is not the business thats must make you reach as people always thoughts. 

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On 11/28/2020 at 5:07 PM, guatazoo said:

The reality of cryptocurrency is that it is having high prices became it having limited supply, and also it is not the business that's must make you reach as people always thoughts. 

But not all crypto currencies that's have limited supply, there have other currencies with unlimited supply and their prices in the market is very low.

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Cryptocurrency has been one of the best things happened to me during the covid-19 pandemic. I was thinking about waste on income while in Quarantine while I happen to come up on this. I earned quite a bit of money for my personal needs.

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Obviously this post is quite the opposite of what cryptocurrencies are, the author has a twisted idea about cryptocurrencies, don't understand what cryptocurrencies are, why there is separation between them and thinks it is all the same no matter if it is Bitcoin, Ethereum Tether, Dogecoin or anything and only thinks he can get rich by cryptocurrencies for some magical way, but makes himself unworthy of anything.

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Year-on-year, the CPI decreased from 2.3% to 2.0%, reaching the Bank of England's (BoE) target for the first time since October 2021. The core index (Core CPI), which excludes volatile components such as food and energy prices, also showed a significant decrease from 3.9% to 3.5% year-on-year.   According to the report from the Office for National Statistics (ONS), presenting the final data on 28 June for Q1 2024, the UK economy grew by 0.7%, higher than the previous value and forecast of 0.6%. Year-on-year, real growth was 0.3%, exceeding the previous value and expectation of 0.2%. This was the best dynamic since Q4 2021.   If the UK parliamentary elections on 04 July and the inflation report on 17 July do not bring significant surprises, the markets predict that the BoE will start lowering rates at its nearest meeting on 01 August. 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Trend indicators are in favour of the dollar at 65% to 35% red to green. Oscillators are 100% pointing south, with 20% signalling the pair is oversold. In case of further decline, the pair's levels and support zones are 1.2610-1.2620, 1.2540, 1.2445-1.2465, 1.2405, 1.2300-1.2330. In case of the pair's growth, it will meet resistance at levels 1.2675, 1.2700, 1.2740-1.2760, 1.2800-1.2820, 1.2860-1.2895, 1.2965-1.2995, 1.3040, and 1.3130-1.3140.   As for the events of the upcoming week, all investor attention is focused on the elections on 04 July. The next important event, as mentioned, will be the publication of the fresh inflation report in the United Kingdom on 17 July.   USD/JPY: Another Peak Conquered   Last week, 75% of analysts expecting new currency interventions voted for the USD/JPY pair's retreat south, while the remaining 25% pointed north. 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According to data published on Friday, 28 June, the Consumer Price Index (CPI) in Tokyo for the year ending in June rose to 2.3% compared to 2.2% for the previous period. The core CPI inflation (excluding volatile food prices) also increased to 2.1% year-on-year, which is higher than both the forecast of 2.0% and the previous value of 1.9%. Another core CPI index for Tokyo (excluding food and energy prices) decreased in June to 1.8% year-on-year compared to the previous value of 2.2%.   Of course, these are not jumps that warrant sounding a loud alarm – all indicators are "hovering" around the target 2.0%. This allows Japanese officials to pause, without changing the vector of their monetary policy, and to limit themselves to verbal "interventions". Thus, Japan's Finance Minister Shunichi Suzuki once again stated that he is "deeply concerned about excessive and unilateral movements in the Forex market" and expressed hope that "trust in the Japanese currency is maintained". 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Panic sentiment sharply intensified after the announcement on 24 June that creditor payments for the bankrupt crypto exchange Mt.Gox would begin in early July. The total amount of funds to be distributed among former clients is 162,100 BTC, roughly $10 billion. Bitcoin responded to this news with an 8% drop. It’s no surprise – such a volume of coins flooding the free market can seriously knock down prices. In the derivatives market, long positions worth $177 million were forcibly liquidated, and the total financing rate for futures contracts turned negative for the first time in June, indicating that sales exceeded purchases.   It is precisely on the expectations of Mt.Gox debt payments that the flagship crypto asset's quotes reached the lowest level in the past eight weeks last Monday. In this situation, two things are encouraging. Firstly, the deadline for repayment falls on 31 October, and it's possible that payments will be made in parts over four months rather than all at once. And secondly, there is hope that not all creditors will rush to convert their bitcoins into fiat, but will hold onto them, hoping for price growth.   In addition to the above, BTC miners exerted some downward pressure on the market. It became known that their coin reserves reached a 14-year low, as they had to sell a significant amount of BTC due to the April halving to cover operational expenses. Recall that the cost of mining bitcoin, according to JPMorgan analysts, is $53,000. Historically, this cost level is a strong support for BTC/USD. However, even in March, JPMorgan did not rule out that after the halving, bitcoin could temporarily fall to $42,000.   In the absence of positive signals, the demand for spot bitcoin ETFs continues to decline, major market participants slow down their activity, and start to take profits. This also pressures the prices. CEO of investment company CryptoQuant Ki Young Ju calculated that over the past two weeks, bitcoin whales and miners set a record by selling coins worth $1.2 billion.   According to 10x Research, all last week, US spot BTC ETFs recorded investor outflows, and on 21 June, net outflow exceeded $105 million. 10x Research believes that bitcoin will now need to find a new price range to stabilize the decline and then find growth catalysts. In the medium term, according to 10x Research analysts, it is not worth expecting BTC to return above $70,000.   Popular analyst Matthew Hyland noted that the combined bitcoin balance on centralized exchanges reached a multi-year low. In theory, this could be seen as a bullish signal, but the crypto market leader is not yet eager to show an upward trend. Naturally, the publication of key US economic data could serve as a vector for further cryptocurrency movements. If the Fed takes its first step in easing its monetary policy in September, it could support risky assets, including bitcoin. According to Cryptology experts, the chances of bitcoin reaching a new all-time high by the end of September are quite high, and what is happening now is a phase of accumulation.   Despite the current decline, many investors remain optimistic, citing the cyclical nature of the crypto market. They also do not forget about the US elections. For example, former Goldman Sachs CEO Raoul Pal predicted significant bitcoin and cryptocurrency market growth in Q4 2024. In an episode of The Wolf Of All Streets podcast, the financier noted that risky assets like bitcoin usually rally against the backdrop of US presidential elections. "The final quarter of an election year is a real 'banana zone' for all assets. It always is," Pal optimistically stated, noting that the "banana zone" for cryptocurrencies in autumn is much more pronounced than, for example, for the Nasdaq index.   Bitcoin was also supported by billionaire Michael Saylor. His company, MicroStrategy, is one of the largest bitcoin holders in the world, with 205,000 BTC on its balance sheet. Despite the negative trend, it increased its reserves by another 11,931 BTC (over $700 million) in the past month alone. Saylor is convinced of the first cryptocurrency's ability to grow to $10 million with support from China and other factors. He believes that in the future, governments, especially China, will fully embrace the first cryptocurrency and integrate it into the state infrastructure. The entrepreneur declared all pre-bitcoin economic instruments obsolete. "Before Satoshi Nakamoto, economics was a pseudoscience. All economists before Satoshi tried to develop economic laws with shells, glass beads, pieces of paper, and credit instruments," the businessman wrote, calling bitcoin a "perfect asset."   In previous reviews, we already wrote that the launch of exchange-traded spot ETFs on Ethereum could give a certain boost to the digital asset market. On 25 June, SEC (US Securities and Exchange Commission) Chairman Gary Gensler noted that the registration process for new ETFs is "going smoothly," and the approval date depends on how quickly applicants submit adjusted S-1 forms. Bloomberg analysts call 02 July the expected approval date for new products. Reuters, citing anonymous sources, reports that a consensus has been reached between fund managers and the SEC in negotiations, and only the "final touches" remain.   Co-founder of venture company Mechanism Capital Andrew Kang stated that after the approval of ETH-ETF, Ethereum's rate could correct by 30%, falling to $2,400. In his opinion, at this stage, the main altcoin attracts much less attention from institutional investors compared to bitcoin. Based on this, ETH-ETF will attract only 15% of funds compared to what BTC-ETF received at the start.   Kang noted that to increase Ethereum's attractiveness among investors, its ecosystem needs to be positioned as a decentralized financial settlement layer, a global computer, or a Web3 application store. At the same time, it will be difficult to sell new ideas for Ethereum's application to funds, as the asset is perceived by investors as an overvalued stock of a large technology company.   Significantly more positively views the future of Ethereum Matt Hougan, CIO of Bitwise, a company managing cryptocurrency funds. In his opinion, the appearance of a long-awaited exchange product is undoubtedly a positive factor, and the net inflow of investments into ETH-ETF over the first 18 months will amount to $15 billion. In his analysis, he relies on the experience of Canada and the EU, where in similar products the inflow ratio for Ethereum and Bitcoin is approximately 1 to 4 (i.e., 25%). In other words, if in the first quarter of work for spot Bitcoin-ETF the total inflow was $26.9 billion, for Ethereum it is expected to be at the level of $6.7 billion. In this case, in three months of work, the leading altcoin could rise to $4,400-5,000.   CEO of SkyBridge Capital Anthony Scaramucci believes that the price of Ethereum could rise even higher, reaching $10,000-12,000. Regarding bitcoin, the entrepreneur allows for its growth to $170,000-250,000. The main driver, in his opinion, will be the further institutional acceptance of cryptocurrency. Scaramucci called the approval of spot exchange ETFs an important regulatory barrier breakthrough for attracting new capital. Thanks to this, in his opinion, the share of digital gold in the portfolios of major players will soon be about 3%.   As of the evening of Friday, 28 June, BTC/USD is trading at $60,190, and ETH/USD is in the $3,390 zone. The total crypto market capitalization is $2.24 trillion ($2.34 trillion a week ago). The bitcoin Fear & Greed Index (Crypto Fear & Greed Index) has dropped from 63 to 47 points over the past 7 days, moving from the Greed zone to the Neutral zone.   In conclusion, here is another observation from Matt Hougan. The CIO of Bitwise presented three reasons why long-term investments in both bitcoin and Ethereum are more advantageous compared to investing only in bitcoin. These are: 1. portfolio diversification 2. the opportunity to earn on very different ecosystems and 3. economic benefit.   Considering the difference in the capitalization levels of bitcoin and Ethereum, Hougan believes that 75% of the capital should be invested in BTC and 25% in ETH. According to calculations, over the period from May 2020 to May 2024, the yield of such an investment portfolio is 3% per annum higher than one that only contains bitcoin. However, Hougan acknowledges that in the shorter term, a portfolio including 100% BTC outperforms a diversified one. Moreover, investing only in bitcoin carries fewer risks due to its higher market capitalization and features such as limited coin issuance and a phased reduction in the inflation rate to zero.   NordFX Analytical Group   Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/ 
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