AMD has been releasing a morepowerful graphics card suitable for GPU cryptocurrency mining. Nvidia was under the assumption that thecryptocurrency market will never rebound. However, AMD was preparing for the next bullish cycle in thecryptocurrency market. The current price rally is a clear indication for AMD tobe poised for a leg up in price.
Investors have been recentlyflocking to Bitcoin and cryptocurrencies. This is evident in the recent price action of Bitcoin.
Hartnett opines, when it comes tothe investor's appetite for Bitcoin, the interest is due to the high-risk andhigh-reward investment strategy. Thelow-interest rate on the bonds yields unfolded eroded profits during therecession period in 2008.
Investors have been forced totake to a greedy trading strategy. This,in turn, has triggered investors to start aggressively tradingcryptocurrency. This they did in thehopes of capitalizing on the next Bull Run in the market.
Hartnett also felt that investorsare currently investing a lot in cryptocurrencies like Bitcoin as they aresupposedly trying to save themselves from the impending economicrecession. This they do in the hope thatthe crypto will protect them from macroeconomic downturns.
In a Dystopian market, the priceof the Bitcoin made a lot of sense.
"We have long been skepticalof cryptocurrencies' value in most environments other than a dystopian onecharacterized by a loss of faith in all major reserve assets (dollar, euro,yen, gold) and the payments system."
With the trade war happeningbetween the US and China, there is uncertainty in the market. The effects are yet to unfold in the market.
Investors are now of the opinion with the right trading strategy; there are opportunities for building wealth with Bitcoin and cryptocurrencies. There are going to be ups and downs, huge gains, retracement, new rally; the value seems to be strengthening for the tokens uniquely.
The cryptocurrency market hasincredible potential. There are barriersto investment despite the Bitcoin Exchange being easy enough for everyone. The boom and bust cycles are regular normsfor the cryptocurrency market.
While it seems that the prospectsfor raising profits in the market are excellent, it is not easy to sellcryptocurrencies very quickly. There aremethods to make the most out of profit potential. Profiting from falling pricesand getting out of trades is not as easy. In cryptocurrency futures tradinginvestors can trade up to 100 X in leverage on their account deposits.
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