Bitcoin valuation dropped from 50,000 dollars to approx. 30 thousand. Dollars have introduced a lot of confusion in the markets. The main reasons for this situation are the actions of Chinese regulators and the skeptical statements of billionaire Elon Musk.
In February 2021, Tesla, the Muska company, purchased bitcoin worth $ 1.5 billion, announcing that the electric car manufacturer will be accepting payments in this cryptocurrency. In May, Elon stated that Tesla was “concerned about the surge in the use of fossil fuels, especially coal, to mine Bitcoin,” recalling an earlier declaration. In turn, the Chinese regulator issued statements that digital tokens cannot be used as a form of payment. Is this the decline of virtual money?
“Buy when blood is pouring.”
The crash wiped out approximately $ 500 billion from cryptocurrency capitalization, which focused the attention of investors and the public on digital currency. Speculators closed leveraged positions that were geared towards strengthening bitcoin. After “clearing” the position, BTC rebounded to around 40 thousand. Dollars, so that its value again fell to approx. 35 thousand. Dollars – we read in the Bloomberg commentary. Many investors pull back from their positions, but just as many hedge funds have used the situation to increase their exposure.
The old adage “buy while the blood is shed” applies in these circumstances as well. Although a lot of investors withdraw from investing in cryptocurrencies, there is quite a large group of people who are increasing their involvement. BTC has shown that its value can be variable, and after “lows,” it can delight with a significant appreciation of its value. The Chinese regulator has caused a lot of confusion, but has it said anything new? The People’s Bank of China issued a statement reiterating that digital currency cannot be considered legal tender. It seems that this panic is put to good use for purchases. The Bitcoin exchange office is a place where you can replenish your stocks.
Bitcoin exchange (BTC – PLN)
If you want to buy one BTC, you have to pay about 36 thousand. Dollars, which, converted into zlotys, give the amount of over 132 thousand. Zlotys. If you do not have much cash, visit the BTC exchange office, where you can buy only a part of the cryptocurrency. Transactions can be lower than PLN 1,000, which means that you do not need to have hundreds of thousands of dollars to take advantage of the BTC rate changes. Moreover, with small amounts, you can buy bitcoins anonymously.
Usually, transactions up to PLN 1,000 are confirmed with an SMS code and do not require data sharing. In the case of operations from 1,000 to 10,000. PLN, you will need a one-time identity verification without creating an account. KYC data (know your customer) will be assigned to the indicated e-mail address, so the user does not have to undergo verification again. It is an excellent help for investors who are just starting their adventure with cryptocurrencies and want to learn about the market rules.
Cryptocurrencies are an electrifying topic that appears in the mainstream media all the time. Often, after large bumps, equally impressive growths appear. Confusion around cryptocurrencies and bitcoin will occur from time to time and is inevitable, and investors can use the confusion to their advantage. It is worth getting to know the mechanisms governing the digital currency market to react on time. One thing is for sure – the current situation is not the decline of bitcoin; it is just another chapter in its history.
Also Read : The Best Books For Understanding Blockchains (And NFTs)
