February 5, 2023

Dubai Week

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Cryptocurrencies will attract 1 billion people by the end of this year

The trading platform “Crypto.com” expects the number of dealers in the market Cryptocurrencies According to Bloomberg’s Al Shark Channel website, billions of people by the end of this year.

According to company figures, this number is considered to be much higher than last year, as many suspect that Bitcoin and other digital assets will enter the cold crypto winter, not just 3 times the number of investors last year. Weakness in Crypto Token Markets This is a cool background for these optimistic forecasts, but its proponents are adamant in their opinion.

As the deterioration of risky assets continued this month, Bitcoin value continued to bleed, losing about 45% of its value compared to its maximum value last November, which is enough to trigger fears that its markets will see a prolonged decline as it hits it. In 2018. However, its advertisers did not withdraw their demand by expanding their use and increasing prices.

Take Greet Trakulhun, an investment analyst at Titan Global Capital Management in the United States: “This year will be the first year that people will not say crypto-tokens are no longer in the mainstream.”

Speculation and violent fluctuations

Most of those who invest their money in digital assets buy them for speculative purposes, hoping to make a profit, but a few prominent individuals have declared their support for cryptocurrencies – including accepting salaries in bitcoin between athletes and politicians. Through talk of expecting widespread adoption of cryptocurrency.

However, new investors are facing restrictions in the cryptocurrency markets, and these markets could see several periods of violent fluctuations in the future as the market deals with the uncertainty surrounding the Federal Reserve’s decision to raise interest rates on borrowing, according to Anastasia Amorzo, investment IBM. Strategic expert at iCapital. In addition to the difficulties individuals face in understanding how to run third generation network applications from the Internet (Internet 3).

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Cryptocurrencies in a year .. what they have, what to do

Trakulhun added, “I can not describe how difficult it is for someone to explain how to install these applications. Large amounts of capital are invested in these systems with the aim of improving the user experience. Investment is required to make cryptocurrency widely accepted.” “.

Year of the Digital Property Explosion

Despite these restrictions, supporters of cryptocurrencies expect growth in their use this year, and according to “Krypto.com” figures, 2021 – the year of the explosion and the widespread proliferation of digital assets – saw an increase in possessions. These tokens are 178% for 295 million investors.

Sam Bankman-Fried, CEO of the cryptocurrency exchange FTX, said the figure has a real chance of reaching one billion.

He added in an interview, “There are some applications that have over a billion users, and if one of them identifies and normalizes its multiple users to encrypted tokens, it can only bring us closer to this point. And it’s not really that far.”

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