While experts believe that only 10% of cryptocurrencies, which currently exceed 20,000, will survive, the importance of access to quality content has increased in choosing the right investment vehicle.
LOSE MORE THAN 90 PERCENT OF VALUE
Cryptocurrencies experienced their biggest drop ever in June. It saw remarkable losses in many cryptocurrencies, especially Bitcoin, whose unit price fell below $20,000 with a 70% depreciation. As experts predict the bear market will continue, four out of 5 cryptocurrencies are down more than 90% from their all-time high. Although some analysts claim that declines in crypto exchanges are periodic, it is stated that the “crypto winter of 2022” in general is not like the previous ones.
Yusuf Numanoğlu, Founder of Bitcoinsistemi.com, which publishes on cryptocurrencies, shares his point of view on the subject, “Over the past 5 years, many new projects have been implemented in the crypto market. This quickly grew the crypto community with an interest in investing. According to data from Statista, there were 66 cryptocurrencies in 2013. Today, data from CoinMarketCap shows that the number of cryptocurrencies in circulation has exceeded 20,000. Due to this abundance in the market, the he crypto winter we find ourselves in is not like the previous ones, as it is predicted that 9 out of 10 cryptocurrencies will not be able to withstand what has happened. used the sentences.
EVEN GREATEST TERRA
Over the past few months, the value of UST, the dollar-pegged cryptocurrency of the Terra ecosystem, has fallen below $1, and Luna, which is pegged to this currency, has lost around 99% of its value.
Noting that the reason behind these losses is the central banks’ tightening measures as well as the inflation in the number of projects, Yusuf Numanoğlu said, “Investing in new projects attracts the attention of investors who want to jump on the train. A recent Bank of America study shows that 9 out of 10 crypto investors will buy more crypto today in the coming months. Investors who wish to invest in a project must not only be enthusiastic about the prospect of a rise. When deciding to invest in emerging projects in areas such as cryptocurrency, NFT or metaverse, it is important to consider in which area and what value the project offers. Reading project roadmaps and technical documents, determining fidelity to these documents, helps protect against losses caused by fraud or market conditions.
“WE PRODUCE CURRENT AND UNIQUE CONTENT IN THE FIELD OF CRYPTO”
Numanoğlu said that who carries out blockchain-based projects, how they communicate with the community, who their investors and partners are, and how social media accounts are used can also affect trust in the project, and concluded his assessments with the following statements:
“Another issue that needs to be considered is how the project bid is divided. For example, if a team allocates 80% of the project’s supply to team members, it’s clear from the start that the project may have fraudulent goals. As Bitcoinsistemi.com, we believe it is necessary to remember the mathematical trust that underpins the system so that decentralized finance, which by its very nature does not need regulatory institutions, can sustain its existence. In order to achieve this and remove malicious projects from the community, we provide our readers with up-to-date and unbiased cryptocurrency information and analysis. By not including content for advertising purposes, we reunite our readers with content they can feel safe with. Investors can discover projects that stay true to their value promises, through unbiased content, and make objective assessments based on the topics they need to pay attention to when investing.
THE SOURCE: DHA
#Crypto #market #shaken #loss