The rollercoaster of cryptocurrencies: this is how they will be listed on 17 June 2022

Cryptocurrencies have enjoyed recent success, with Bitcoin having been legalised in El Salvador Cryptocurrencies are an innovative digital asset that have experienced tremendous growth in recent years thanks to a number of factors, including the decision of some governments to try to make them legal tender; however, they have also suffered setbacks that have cast doubt on their viability, such as the recent events known as the “crypto winter”.

Despite this situation, more and more people are buying cryptocurrencies in order to invest in something “safe” and “reliable” in the short and long term, even though it often suffers from extreme levels of instability.

For this reason, we bring you the current prices of the best cryptocurrencies.

Bitcoin Price: $20,706,568 Change: -8.27%

Ethereum Price: $1,079.18 Change: -12.49%

US Tether Price: $0.999 Change: 0%

BNB Price: USD 214,729 Change: -8%

LiteCoin Price: $46.17 Change: -8.56%

Dogcoin Price: $0.057 Change: -9.82%

In May 2022, cryptocurrencies revealed that no matter how hard they tried, they could not escape the appetite for speculation after the so-called “crypto winter” or “crypto crash” that brought several digital currencies such as bitcoin and ethereum to their lowest values.

In the case of LUNA de Terra, this situation has left many investors broke.

This is known as “cryptocurrency winter” when prices fall unexpectedly and no improvement is seen or predicted in the second half of the year.

The last episode was driven by several factors: world inflation and the proposed ban on the use and mining of these substances in Russia, currently in conflict with Ukraine.

This situation led to an unexpected 77% drop in Bitcoin to the $28,000 mark; others like Ether lost 30.88% of their value during the month.

The domino effect also affected Terra’s stable coin, LUNA, which fell over 100% from $118 to $0.09 and has yet to recover.

What are cryptocurrencies? A cryptocurrency or crypto-currency is a digital medium of exchange (it doesn’t actually exist) that uses encryption to ensure the integrity of transactions and to maintain control when creating new units.

Bitcoin was created in 2009 and since then a number of cryptocurrencies have been created.

However, as there is no regulatory body such as a central bank or similar entity, they have been accused of being unreliable, unstable, promoting fraud, not having a legal framework to support their users, allowing the operation of illegal activities, etc.

To obtain them, you can buy or exchange the currency itself in a dedicated portal.

Its value depends on the supply, demand and commitment of users, so it can change faster than traditional currencies, but the more people are interested and want to buy a given coin, the higher its price will be.

However, whoever invests in this digital asset must be very aware that this form poses a high risk to the capital because, just as it may increase, it can also crash unexpectedly and end its savings.

Users.

The Bitcoin boom Bitcoin was born in the aftermath of the 2008 financial crisis, championing libertarian ideals and aiming to curb traditional fiat and financial institutions.

It was designed by a man named Satoshi Nakamoto, but his identity remains hidden today.

That’s how he created the first block of 50 bitcoins on January 3, 2009. There are currently around 20 million Bitcoins in circulation, and the supply of currency continues to grow as new units are issued.

In 2013, this early, almost worthless cryptocurrency broke through $1,000 and began to attract the attention of financial institutions.

A few months later, it faced its biggest crisis when the MtGox platform, directed by Mark Karpelès, was hacked and up to 80% of the units in circulation were exchanged.

Prices fell and it will take three years for the cryptocurrency to recover At its all-time high, Bitcoin has cost over $68,000 and continues to be the most popular cryptocurrency in this digital market.

Despite the progress and scope that Bitcoin and other digital assets have made, organisations such as the World Bank, the International Monetary Fund (IMF) and the Inter-American Development Bank (IDB) remain sceptical of the benefits that this cryptocurrency could bring.

Elon Musk’s role in the crypto world The popularity of cryptocurrencies has not been organic, it has been driven by various personalities, notably the popularity of millionaire Elon Musk.

Since mid-2020, the founding owner of Tesla has made positive comments about cryptocurrencies, mainly Bitcoin and Dogcoin, through his Twitter account.

Elon Musk first posted positive and interesting tweets about Bitcoin and then reported that Tesla would accept this cryptocurrency for the purchase of its electric cars, which only lasted for a while due to the entrepreneur’s environmental concerns about mining Bitcoin.

That same year, 2021, the electric car company invested $1.5 billion in bitcoin.

Earlier this year, he told the US Securities and Exchange Commission that he owned nearly $2 billion worth of bitcoin.

Elon Musk’s praise for dogcoin began well before Bitcoin in 2019, when he tweeted that it could become his favourite cryptocurrency, calling it “awesome”.

The SpaceX founder’s tweets about dogcoin returned with greater intensity in 2021, around the same time he posted about bitcoin, for example, that he would eat McDonald’s “Happy Meals” on TV if the fast food chain accepted dogcoin.

Literally, she would buy some of these cryptocurrencies for her son and take her to the moon.

In early 2022, Elon Musk followed Bitcoin’s lead and announced that Tesla would accept dog coins, but with some restrictions.

Every time Elon Musk comments on cryptocurrencies they raise the price, although not in all cases they stay, especially dogcoins.

The importance of Elon Musk for these cryptocurrencies is that in the face of any of his actions, not necessarily related to digital currencies, they managed to increase their value.

In late April 2022, after weeks of negotiations, Twitter accepted the millionaire’s offer to buy the social network for $44 billion, which led to an increase in the price of bitcoin, dogcoin and other cryptocurrencies such as memecoin and luna.

A cryptocurrency has even emerged, still in beta, called “Elon buys Twitter”, following the announcement of Elon Musk’s intention to buy the social network, which has also boosted its value.

Digital currencies in Latin America Cryptocurrencies in Argentina: Although digital currencies have not yet been legalised in Argentina, their popularity has been growing after decades of financial instability that citizens have had to face, making them one of the Latin American countries with the most cryptocurrencies.

Along this line, President Alberto Fernández has suggested using it to fight inflation. Besides Bitcoin, another of the most popular cryptocurrencies is LUNA, a token traded on the Terra system that can be purchased from the Tienda Crypto platform. This cryptocurrency has an all-time high value of $119.18.

Cryptocurrencies in Mexico: The Bank of Mexico (Banxico) has determined that no institution participating in the national financial system may use or must allow any form of operation through this form of payment.

However, according to a study by Finder, the country ranks 14th out of 27 countries with digital currencies, ahead of Venezuela and Colombia, with around 13 million users by 2021.

Within Mexico, Ricardo Salinas Pliego, one of the country’s richest businessmen, has shown interest in cryptocurrencies and has pledged that several of his businesses will accept bitcoin in the future, including his bank and even one of his most popular shops. .

Cryptocurrencies in Peru: The Central Reserve Bank of Peru (BCR) has made it clear that its mission is not to be the first or second central bank to regulate the use of cryptocurrencies due to their instability.

However, a few days ago, the President of the (BCR) assured that the BCR is developing its own digital currency project.

Cryptocurrencies in Colombia: In this South American country, there are more than 500 websites that allow payments using cryptocurrencies.

According to Finder, in December 2021, it became the third fastest growing country in the world in terms of bitcoin holders, after Russia and Norway.

Cryptocurrencies in Central America: El Salvador’s government gave a vote of confidence and became the first country to legalise Bitcoin as legal tender on 9 June 2021.

In addition, President Nayib Bukele announced his intention to create the first Bitcoin city in Conchagua, which will be financed through tokenised Bitcoin-backed bonds.

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