Last week, the main cryptocurrency on the market, the Bitcoin, exceeded US$ 64,000, reaching the all time high, your historical record. In all, the “uptober” – nickname given to the month that, historically, bitcoin values exponentially – is being very positive for the currency, advancing a total of 38,82%.
The cryptoactive analyst at Empiricus, Valter Rebêlo, analyzed the scenario of this market and what we can do to take advantage of the boom market cycle.
In times of interest rates close to zero around the world, the Central Bank of Brazil has presented a tougher stance in relation to inflation. After the rate reaches double digits, the Brazilian has seen the purchasing power of the real erode weekly.
In this scenario, investments appear as an attempt to avoid losing money by leaving it idle, as well as generating good returns. And one of the investment classes that has attracted the most attention is the cryptocurrencies.
Ray Dalio e George Soros, for example, they are big names who claimed to have positions in cryptoactives. In addition, the market has matured in relation to cryptos and the perception of the importance of technological evolution for decentralized products and services. the entry of Tudor Jones, hedge fund manager at Tudor Investment Corporation, is an example of this.
In parallel, a milestone in the progress of regulation took place in all time high, with the release of the bitcoin futures ETF, pegged to the CME futures index, Chicago Mercantile Exchange.
And the future of bitcoin? Pantera Capital, an American manager specializing in cryptocurrencies, estimates that, after reaching its record, bitcoin should present an 8.8 times multiplication.
An interesting fact is that analyzes show that after reaching the highs, the dominance of bitcoin tends to fall, making room for smaller currencies, the altcoins. These, in turn, suffer brutal variations, and valuations, in view of their lower prices.
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I am an author at Global happenings and I mostly cover automobile news. In my time working in the automotive industry, I have developed a keen interest in the latest developments and trends. My writing skills have also allowed me to share my knowledge with others through articles and blog posts.
