Profit

Ever since Bitcoin experienced one of its largest pullbacks in May this year, critics have once again used this volatility to attack Bitcoin, saying it is not a good store of value because its price can fall 40% in a week. While that argument sounds logical at first, my own deeper analysis delivers a rather alarming result.

FXT token, an Ethereum-based token that recently completed its ICO, witnessed a remarkable 1,500% increase in its price in the first half of May.

Decentralized technologies including blockchain, artificial intelligence (AI), internet of things (IoT) are getting more and more popular. They bring lots of profits for businesses. That is why 8 of the top 10 largest publicly traded companies in the world are dealing with blockchain technology.

As online shopping is one of the commonly used online activities internationally, the global retail e-Commerce sales globally are expected to increase to about $6.55 by 2022. However, the industry is still vulnerable to fraudsters, so a great share of profits is expected to be lost due to the vulnerability.

Bitcoin is regarded as the leading cryptocurrency and is seen by many as the most profitable. Many companies have begun accumulating bitcoin, with Tesla recently purchasing vast amounts of bitcoins.

No trader is immune from risks and losses when trading cryptocurrencies. Investors have to put up not only with the high volatility of coins, but also with the various fees that crypto exchanges charge. If someone doesn’t correctly plan out their trades, then the cost of commissions can quickly absorb a significant portion of profits.

The digital currency sector in Nigeria has been growing rapidly. Despite numerous scams and a lack of clear regulations, cryptos attract Nigerians with high profit potential.

Cryptocurrency investments are becoming increasingly popular as the prices go sky-high. Like any kind of innovation, it attracts numerous young people with its disruptive potential and a promise of high profits. However, a careless attitude to high-risk investments can have a devastating impact on their lives.

After the enormous price rally, the demand for Bitcoin seems to largely exceed its supply. This might bring the flagship cryptocurrency to a long-term bullish trend with new all-time highs.