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The cryptocurrency market has performed very well and is starting this week on a positive track. Over the past day, bitcoin has grown by almost 3%, ethereum by 4%, and dogecoin by more than 5%.
Among other things, the famous billionaire and co-founder of PayPal, Peter Thiel, said that he regretted that he did not buy cryptocurrency when it was on the decline.
Thiel said that the rapid rise in prices for Bitcoin and other altcoins is due to the fears of institutional investors about the upcoming inflation, which could be an irreparable blow to world economies.
He is sure that now it is possible to observe verified impulse trading. Investors invest their personal savings in the crypto market based on the factor that they are confident in their security during the upcoming inflation, since fiat funds will be devalued and absorbed by the impending inflation, and cryptocurrency savings will remain intact.
Investors should pass by those coins that are in unlimited quantities, and instead it is worth carefully analyzing and investing only in those cryptocurrencies that have a limited crypto-coin circulation.
In particular, digital gold has a limited reserve of 21 million. And if all Bitcoin in the world is mined, then the price will rise accordingly.
According to Thiel, Ethereum will follow bitcoin, its annual production volume is limited to 18 million, but in general it has no limit restrictions.
The billionaire believes that dogecoin will be the worst cryptocurrency and a means of saving, because it has an unlimited supply and will be the least effective hedge fund against the coming inflation.
Today’s small increase can be attributed to the fact that Coindesk subsidiary Coinme has stated that from now on November will be the month of crypto literacy.
Coinme, which is a subsidiary of Coindesk, said that throughout November, they will promote basic knowledge about cryptocurrencies in order to increase awareness and literacy of novice investors.
The company wants to see as many interested ordinary citizens as possible who want to discover the crypto world and start investing, because now there are the best opportunities for this.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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