The crypto world is on the move - here are the highlights.
Greetings to all active users and readers of Inleo, we are starting this new week of January and I am pleased to share with you the latest movements in the crypto market, because we all know that it is important to be informed of what is happening in the Crypto world.
Make yourself comfortable that here I start with my article today, I promise it will be something accurate, and to the main point of focus of this publication, and also remember to leave your comment in case you have something else to contribute to what you will see here.
Image generated with Bing AI - Edited in Photoshop CC
Table of contents for this article:
♦️ Exceeding expectations compared to 2023
♦️ Value losses at SOLANA.
♦️ Value losses at CARDANO.
Image generated with Bing AI - Edited in Photoshop CC
Exceeding expectations compared to 2023
In this beginning of 2024, the cryptocurrency market is off to a strong start, and we have all seen that compared to the previous year 2023. After the market crash and the FTX scandal last year, some people reported what happened as (The end of Cryptocurrencies), but the market has shown an amazing firmness, because it will not end that easy, we have a lot to explore, learn and be part of them, and this last thing I mentioned is the most important thing, be part of it and not stay alone to see how the world of finance evolves around us.
I know there are many cryptocurrencies, but BTC is one of the main ones, so let's talk a little bit about it.
Bitcoin continues to be the first cryptoasset to move, dragging the entire cryptomarket with it, in one year, BTC has gained an estimated 160% in the increase of its value, going from $20,853 in the month of January 2023, to $42,671 at the current date on which I write this article (05/02/2024), and in this graph you can see it clearly, and in this way we realize that this year is exceeding the value of the beginning of the year 2023 ....
I also make a special mention to the user @vikvitnik, because a few hours ago I was reading an article he wrote, where he analyzes a news that possibly had an effect on the value of BTC, you can read it here (Nayib Bukele is re-elected in El Salvador | More than 85% of votes! - A Boost for Bitcoin)
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Value losses at SOLANA
However, not everything is rosy. Some cryptocurrencies such as SOL and ADA lead the losses, in the case of SOLANA I remember very well that in the month of December of the year 2024, I was talking to my brother about making a purchase of SOL, because my brother @dnagameroficial is also a user who is interested in this topic of investments and diversification of cryptocurrencies.
From my point of view, I indicated him not to make such a purchase, because by that time the crypto SOL was having a good advance in its value, but if we bought in those bullish moments, then the market would apply its corrections leaving us in losses and waiting for it to increase its value again above $110 to be able to take profits from it.
Remember @dnagameroficial when we talked about this? Notice that now Solana is at $95, but we are not in losses with this crypto.
Image generated with Bing AI - Edited in Photoshop CC
Value losses at CARDANO.
In the case of Cardano, I also have a little investment in this currency, like my brother, but here we are waiting for a good increase in about 3 months approximately, because at the time of making the purchase of ADA, we bought at values close to $ 0.36, so we are in minimal gains, but not in losses, although currently Cardano is resisting a considerable increase.
Much of this is also because they have not said or reported new developments in the project that would pique the interest of Holders and investors both retail and large.
And these are just some visible examples that we can analyze, because the Blockchain is so big that thousands of news arise daily, and sometimes we do not know about some of them, here I talk about the news that personally generate more interest to me, because I have investments in them, except for SOLANA, but I think this is useful information for many.
And you, do you have any crypto investment that you can tell us about?
Many have investments in different ecosystems, and it would be great to know your point of view on the current market, thank you very much to everyone for reading this little article and I hope you have a happy day...
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English is not my native language, so I have used Hive Translator.
Posted Using InLeo Alpha
$110 for SOL looks high as it did have great gains in 2023. We shall see what happens this year.
But projects are being attracted to SOL with the low fees so it will go back up.
In that you are absolutely right, the incorporation of new projects in the Solana network is very good, the fees are very economical, plus it also maintains a very good NFTS collection market with a great traffic.
Solana is a strong network, and very versatile, even Play2earn game projects are hosted in Solana, and no doubt this makes the value can increase.
Thanks for commenting, nice to see you here.
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I don't like Cardano's chart very much. It's like it's continuously declining, so the price should decrease over time.
As for Solana, it has growth power and more and more interesting projects are appearing. It will be a matter of seeing what happens in the future.
Undoubtedly, solana has a good advantage in that sense, because new dapps are always included to this network, and that gives a good value of use to the network.
As for Cardano, I think it has good fundamentals, they just don't give good news of development, but I have hope that something good will come out of it.
Thank you very much for stopping by to comment, it's nice to see you here.
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