After years of being the black sheep of the economy, cryptocurrencies have finally managed to earned their place in the global financial market. Large corporations are using them for transactional activities, serious investors are putting large sums of money for the purchase of crypto coins and software developers give every person the ability to easily trade one or more cryptocurrencies. The problem is, that specific groups of billionaires are starting to find amusement in controlling the cryptocurrency market, creating investment positions that can change the rules of the game for everyone. From Bitcoin to Ethereum and from Litecoin to Dogecoin, crypto assets are being drawn to a game initiated by what the investment world calls “whales”.
Twitter Comments Should Not Determine the Long-Term Future of Cryptocurrencies
During the last few weeks, cryptocurrencies have danced in a rhythm dictated by Elon Musk. Dogecoin has gone from being worth nothing to being worth 50 cents in just a matter of days and Bitcoin moves the way the multibillionaire wishes it to move. However, Twitter comments and public announcements cannot replace the trust a financial asset has built over the course of several years. Bitcoin had to go through hell and back in order to get to where it is today. The same applies to Ethereum and probably the same will apply to Dogecoin. In the long run, the performance of cryptocurrencies will be in the hands of the many.
If You Are Looking for Bonuses Then Look Elsewhere
Investing in cryptocurrencies takes a lot of work and countless hours of trying to read the signs of the market. It is not a simple process that comes with promotions and bonuses such as the bonuses you can get by opening an account at Mansion Casino. Before you invest your hard-earned money, you will need to identify the assets you want to invest in. Once that has been done, you will need to spend some time in doing the necessary technical analysis required for the opening of a new trading position. Every action you take after that, will be a step towards creating an income generating portfolio.
Can Investors Really Trust Dogecoin?
It is no secret that Dogecoin’s performance caught traders and investors by surprise. An asset once used for the mocking of actual cryptocurrencies, is now an asset with a significant audience in the financial market. The only problem is, that unlike the established cryptos currently being traded, Dogecoin does not have any real history in the trading world. This means that it is extremely hard to predict its future in the event Doge supporters such as Elon Musk decide to withdraw their trust. On the other hand, it might be worth putting some money on Dogecoin if you are thinking of investing in cryptos for a short period of time. Doge’s upward momentum will probably continue for a few more weeks and you might end up doubling your investment. If you are not worried about the fact that billionaire investors are using cryptos as their playthings, then you can open a crypto-trading position with an amount that you can afford to risk losing.