Bitcoin is one of the cryptocurrency coins that are constantly in the market and the news. It is still as popular as it was when it was first introduced. A professional crypto trader, Rafael Oliveira, advised people to invest in Bitcoin as it will rise again this year.
Rafael Oliveira is a cryptocurrency investor, trader, and many other things. He has worked in many sectors including clothes and chocolate seller, party and event promoter, and as a voice-over artist. Rafael currently works as a cryptocurrency investor who shares his knowledge with his social media followers.
How Bitcoin came to be
Bitcoin was developed to satisfy people’s need to have a peer-to-peer financial platform without relying on financial institutions. This means that banks and other financial have little regulatory authority over Bitcoin. Therefore, Bitcoin developers created an open-source and non-centralized system.
Will Bitcoin ever rise again?
A chartered accountant has speculated that the Bitcoin price may fall in January 2023 by a 70 percent decrease. This might be due to the high rate of interest during the festive season. It might also be due to people selling off things in the crypto technology industry. However, another expert said that Bitcoin will rise later in the year 2023. These two predictions contradict each other. Nevertheless, this is something that often happens when it comes to buying and selling digital assets. This is especially so for the volatile cryptocurrency market. Other traders are also of the opinion that Bitcoin will rise in 2023. This is why prospective traders need to buy Bitcoin now before the price increases.
Why investors don’t trust bitcoin
Ever since some digital coins like BlockFi, FTX, Terra, and so on, many people are hesitant to trust cryptocurrency investment. This has affected cryptocurrency’s credibility and the confidence investors have in cryptocurrency. In addition, an increasing number of Bitcoin owners and investors started selling their Bitcoin and Bitcoin-related assets. They have developed less trust and lost hope that the digital coin will rise again. So rather than lose all their money, they decided to sell their coins to get some money from the sale.
Factors that affect Bitcoin buying and selling
Centralization
Bitcoin is a fully decentralized digital currency, unlike other forms of digital exchanges. Other digital exchanges are centralized, hence why users lost their coins when they went bankrupt. Examples are BlockFi and FTX. Centralization is also the reason why users of centralized digital find it hard to verify transactions.
Lack of knowledge
Many digital coin traders bought these coins, but only a few know what to do with them. Some don’t even know their mode of operation because their mode of operation is not transparent. Thus, when they buy these digital coins, they have little information to make the right decisions.
No FDIC insurance
Digital currencies are different from banks because they don’t have FDIC insurance, which the banks do. It is this insurance that will mitigate any risk or loss that might occur.
Not enough regulations to govern crypto trading
Conventional brokerage firms are regulated by the government and other regulating bodies. But cryptocurrencies and digital exchanges have few rules and regulations to govern them. This has given some unscrupulous individuals the opportunity to use crypto coins to embezzle and launder money.
Why Bitcoin is better than other coins
One of the reasons why Bitcoin is better than others is decentralization, while the other is its trustless quality. These two things make it easy for investors to see what happens during a transaction. That is to say, Bitcoin is more transparent than centralized digital currencies. So if any transaction occurs, anybody can check the transaction on Bitcoin’s Blockchain. The reason for this is that Bitcoin uses a distribution ledger digital system.
The usefulness of a decentralized digital currency
Bitcoin investors and buyers can purchase Bitcoins and put them in their eWallets for future use. They can put their minds at rest because nothing will happen to the coins even if Bitcoin goes bankrupt. They can access their digital coins anytime, anywhere they feel like. And this is why Bitcoin is different from centralized digital currencies.
The reason why you should invest in Bitcoin
Centralized digital coins like Celsius and FTX have folded up for so many reasons. Some of them include the presence of central authority and doing too much at the same time. But Bitcoin doesn’t have a central authority. This prevents any executive from making bad decisions that might destroy the platform. Furthermore, two or more decentralized miners secure and control the network globally. These miners also make sure the transactions are validated.
Conclusion
To conclude it all, Rafael Oliveira Bitcoin, trader is sure that the value of Bitcoin will increase in mid-2022. Even when other digital currencies folded up in 2022, Bitcoin didn’t fold up. Its value fell, and it is gradually picking back up. It is an example of a trustworthy digital exchange platform that has a strong foothold in the market. So if you wish to invest in Bitcoin, you can be sure that your account and wallet will be safe from hackers.