Before making any kind of decision you always have to study a little and check different factors, before making the final solution, and crypto derivatives aren’t an exception, so let’s dive in and check some different factors, that can help with making the right move.
Crypto in history from the very beginning
As we can all see, since the first cryptocurrency Bitcoin has been introduced in 2009 and quick research will show clearly enough, that it’s constantly growing, and like any other currency, it has better, or worse days, it might rise or fall, but when you check the numbers from very beginning Bitcoin started in 2013 a year at around $ 13.50 per bitcoin, in the trading market.
How about the prices on the financial market since the early start?
And just in a few months at the beginning of April, it increased up to $220 for bitcoin, but that didn’t last for a long and in mid-April dropped down to around $70. It was the first time in the history of cryptocurrency, that we could see how that it’s not stable, and can be very tricky and at that time not many people could clearly see and understand, what are assets of crypto, and what effect on the value of a currency? Are traders that invest in crypto spending their earned money hoping for more, or there are some other assets that give value to cryptocurrency, and people can actually use it to buy things or invest in other stocks?
Let’s look at numbers nowadays, should we be interested now in crypto derivatives?
At the beginning of January 2023 price per bitcoin, reached the highest number in its history to $ 40.519. Derivatives are very important in stock markets, and so many people now are very interested in investing their money in crypto, especially after bitcoin reached an incredibly high value. So many people were lucky to buy currency before 2023 even not long ago in the very beginning of December 2023 price was around $19.464 and at the end of January 2023, you can easily sell it for at least around $ 30.000 to $32.000.
Key factors for crypto price rising
How will the market be in the future? Will crypto continue to grow?
To answer these questions now, we can look at some key factors that are influencing crypto price, and the investors and traders in buying crypto.
The first question you should answer before investing, is cryptocurrency legal in my country?
There are investors interested in crypto around the world, and many counties are now officially accepting crypto.
As of Jan 2023, list of countries where bitcoin is legal:
Japan, Switzerland, The Netherlands, Lithuania, Estonia, Germany, Singapore, Georgia, Ukraine, Belarus, Hong Kong, Malta, Canada, US.
The list is not full, but here we can clearly see that so many countries are accepting Bitcoin, and the list is continuing growing since crypto becomes more popular.
There is also a list of countries that are not having any kind of regulations, or rules about crypto.
Some of these ‘undecided’ countries are Albania, Argentina, Columbia, Jamaica, Jordan, Kyrgyzstan, Malaysia, The Maldives, Nigeria, Panama, Paraguay, Peru, Tanzania, and more.
But there are also countries that banned crypto-like: Algeria, Afghanistan, Pakistan, Bangladesh, Vietnam, Saudi Arabia, Russia, Qatar, China, and the list is always changing.
So, as more Countries will start accepting crypto, it could positively affect on the price of a cryptocurrency, as others might ban, and this will have totally opposite effects and might affect that price can drop down, especially if these counties are with a strong economy. And have many investors that are interested in crypto.
What are the assets of crypto?
There are many people that are not positive about crypto, the main problem they see, it is not a real asset, as you couldn’t buy anything you want for it like any other currency. But now, so many companies started to accept bitcoin, and some other crypto as a payment option.
So, as this list will grow, more trust and assets crypto will earn. Some of the companies that are accepting Bitcoins are:
Microsoft, Home Depot, Wikipedia, AT&T, Burger King, KFC, Pizza Hut, Virgin Galactic, Norwegian Air.
In the list, you will find only the most popular, and well-known companies, there many more, where you can actually use bitcoin, for buying their goods, or service.
Do you have to think today about crypto derivatives?
Based on all information and history of crypto price rise, and fall, it’s clear enough, that price now at the end of Jan 2023 is still pretty high, and time by time it’s growing, it might go up or down, but you should also need to consider key factors like, investors and traders that are interested and investing in crypto, also a list of countries that will accept or ban, and check about companies that accept crypto as payment.
You might decide it’s not good to buy crypto in the future for today’s price, at the end of Jan 2023 as the price is still pretty high $34,175 per bitcoin. You could be right and win buying it later if the price will go lower. And if the future will be very bright for bitcoin, and maybe in next year, we will see another price boom for bitcoin, then you might be getting a good deal buying for nowadays price.
And you know, that no one will tell you for sure, and can’t guarantee you will win, because there are many factors that can affect on crypto price, just can be a good idea, always know the last news, to understand if you need to buy crypto, or wait for the right moment for it.
As any other company and prices on the stock market can be predictable if you learn about it, and get experience with it, but also it’s a kind of game, and you can lose or win, just with crypto it can be sometimes so unpredictable.
So stay tuned, and keep learning on Drixx Blog, it will help to make a smart investment.