The crypto domain is dynamic and is kind of still in its infancy therefore it has a long way to go. The crypto market has seen several ups and downs in recent times and the positive ones surely held the integrity of this sector high. The cryptocurrency market has also suffered a lot lately, however, in this article we would be focusing on the ‘achievements’ that the field has attained. This Thanksgiving let’s be thankful for the crypto events that upscaled the working of the entire crypto market.
8 Crypto Market Events That Brought A Positive Change!
The happenings in the sector, which were positive enough, have been discussed here. Both older and recent events have been mentioned. Without these, the cryptocurrency market would not have become the way it is today. Therefore, give a read to the points noted below for a better understanding.
El Salvador’s Bitcoin Law
El Salvador, known for its Bitcoin City, made Bitcoin (BTC), the largest crypto, a legal tender in September 2021. This seems like a very old incident, but it is not so. We do know that it has been over a year since this happened, but it is one of the most important crypto events to be noted. This is due to the fact that in a situation where Bitcoin was not legally recognized in the entire world. They even distributed about $30 BTC to every citizen in their peripheries and also incorporated infrastructure that could aid Bitcoin to be a part of the economy as soon as possible.
Today, El Salvador is one of the most crypto-friendly countries, especially when the largest digital currency is considered. It is also a renowned spot for crypto tourism activities as they let people pay for things in cryptocurrency (Bitcoin). This event should never be forgotten when crypto-related Thanksgiving sentiments are in question. The crypto market cap boosted at that point in time.
NFTs Became Mainstream
Non-Fungible Tokens (NFTs) are digital artworks that have gained immense popularity. Though they don’t come under the crypto market, they are very much a part of the blockchain domain which powers both digital currencies and artwork. NFT marketplaces are one of the best places for digital art creators to explore so that they can get buyers for their art pieces. These are really helpful for those who have been into art but could never get the desired amount of response for their talent.
Since everything here is online there are no geographical boundaries that can detach the artists and their appreciators. People are still venturing out into the domain to know what the sector is actually capable of. It is estimated that a lot of utility is still not harnessed. However, NFTs have indeed become mainstream!
Crypto Awareness Is Increasing
Crypto awareness is extremely essential as people in the domain who do not know things about it can easily be taken advantage of. Many people have been known to scam those that have been ignorant about how the crypto market and the entire domain works. However, in recent times education about this ‘new’ sector is increasing. For preventing loss of funds through scams, there have been enough guides available on the Internet. Also, the technical analysis tools and sites have been beneficial for investors to know about cryptocurrency prices and trends.
Newer Trends Have Been Emerging
The crypto space is always running without a break, and which is why it is one of the most dynamic sectors with a lot of potential. One can literally earn through it 24 x 7 but if decisions are made cautiously. Newer trends are always emerging in the sector that change the way it works. Also, the crypto market cap gained substantially lately. For example, the concept of the metaverse gained recognition after Mark Zuckerberg’s Facebook was rebranded into Meta last year. Thereafter, metaverse cryptos like Decentraland (MANA) and The Sandbox (SAND) were in the limelight for a considerable amount of time. Metaverse cryptocurrency prices started gaining.
Learning About Crypto Becomes Easier
A decade ago, when the concept of cryptocurrency was new, learning about it was fairly difficult due to the unavailability of resources and information. However, now as time has passed people have been able to recognize the various aspects of the cryptocurrency market along with things like crypto prices. Now there are various sources from where one can know about crypto; it can be articles on the web along with sites like CoinMarketCap, TradingView, and several trusted YouTube channels. Popular crypto personalities also educate the crowd through various social media platforms.
Advancement In Facilities By Crypto Exchanges
Crypto exchanges are one of the most important elements of the digital currency market as without them it would be almost impossible to trade in these currencies. They have advanced tools for trading activities that have been improving lately in order to elevate the user experience. Over time they have added better charts to analyze cryptocurrency prices and trends to analyze the possibilities of making a profit. In addition, they have increased consumer support which eases newcomers’ experiences in the sector. Further, experienced investors can venture into better opportunities with the tools and technical analysis data these crypto exchanges offer.
People Have Financial Freedom And The Opportunity To Choose
We have been engrossed in traditional finance activities for a long time and there were not many choices that people would be able to harness. However, with the advent of the blockchain and crypto domain, things have altered. Now, we have a lot more options to choose from and the conventional modes of investment are not the only ones that one can consider these days.
Earlier, saving money in a bank account for interest was thought to be profitable. It took years to provide a good return. With the crypto market, one can easily gain those many earnings in just a few hours as crypto prices tend to fluctuate a lot during the day. However, it is risky as well and needs a lot of thought to be put behind any investment decision.
A Lot More In Store
Blockchain and the cryptocurrency sector have immense potential that has been left unutilized. Therefore, we estimate that there is a lot more in store. Considering that the field is fairly new we do think that it is ought to evolve in a significant manner in the coming years. This is why we should wait patiently and keep a check on the vital events that take place in the crypto market. Also, newer and advanced technology is expected to alter and revolutionize the domain along with the entire world. Modern and fresh trends might also enable opportunities that were never identified in the past.
A Heartfelt Gratitude!
We should indeed be thankful for the things that upscaled the concept of the crypto market and the entire sector per se. If you are not well-versed with concepts like crypto prices, crypto market cap, trends, technical, and fundamental analysis then try reading up on them. Those who have been a part of the crypto domain should share their views on the above-mentioned points so that we understand how these details have been received by you. In addition, if you can think of other events that should be included in the crypto Thanksgiving list then do mention them in the comment section. And yes, wishing you a very happy Thanksgiving!