With the economic recession and the brutal collapse of the FTX platform, the crypto market is going through difficult times. Bitcoin keeps falling and major cryptos are trading at very low valuation levels. The market does not seem ready to take off. What if we saw in this gloomy period buying opportunities on the crypto market? We are going to reveal the secrets of investors to resist and take advantage of the current crypto market at the end of 2022.
The current economic situation is very delicate
The global economy is going through a period of significant economic turbulence. The risk of a economic recession persists in the United States as well as in the rest of the world. High inflation is pushing central banks to raise their key rates, which of course penalizes real economic activity. The situation is not ready to improve insofar as the World Bank foresees the continuation of the reduction in key rates in 2023.
The case of Bitcoin: dead 461 times since its creation!
The recent history of Satoshi Nakamoto’s currency proves to us that it is sometimes necessary to know how to show perseverance. It is estimated that since its creation in 2009, the Bitcoin was buried 461 times by the media, including 21 times in 2022 alone! Bitcoin is obviously not dead and with each new crisis, the cryptocurrency takes the opportunity to consolidate its place in the cryptocurrency market.
Popularity of the search “Bitcoin is dead” since 2015 in relation to its price
Well-informed investors have taken advantage of the various crises to position themselves on this digital currency and thus generate substantial capital gains.
Cryptocurrency investing is offered by eToro (Europe) Ltd as a PSAN, registered with the AMF. Cryptocurrencies are very volatile. No consumer protection.
The FTX Collapse: The End of Crypto Markets? Or a new opportunity?
The resounding bankruptcy of the former third largest cryptocurrency exchange in the world worries crypto investors and traders. Nobody could have imagined, apart from the founder of FTX and probably a few senior executives of this company, that the platform could have collapsed in a few days!
The collapse of the platform of course creates a execrable climate of confidence in the market. Investors withdraw funds and sell the crypto-assets, which of course brings down the whole market. There is a good chance that this will also impact other cryptocurrency platforms in the coming days or weeks. But is this the end of cryptocurrencies?
History shows us that this is not the first time that a cryptocurrency exchange has declared bankruptcy. The FTX bankruptcy looks suspiciously like Mt Gox bankruptcy in 2014. Between 650,000 and 850,000 BTC were hijacked at the time from the platform by hackers.
Bitcoin price plunged 8% on February 8, 2014 following the announcement of the suspension of withdrawals on the Mt Gox platform. Mt Gox was a go-to platform for cryptocurrency trading at the time and it is estimated that this platform weighed up to 70% of trades. Bitcoin was worth back then less than $400 versus more than $16,000 today !
FTX’s Flash Bankruptcy May Well Add Security to the Market
To reassure their customers, the biggest crypto-currency exchange platforms have no choice but to publish “Proof of Reserve” (PoR). A “Proof of Reserve” is a complete and transparent audit to measure the solvency of a crypto exchange platform from the crypto-assets held. Some platforms like Binance or OKX have already taken the plunge by publishing this kind of information.
It is clear that it will become the financial standard in the sector. With FTX blocking withdrawals, more and more investors and traders will require platforms to maintain an up-to-date PoR audit. This could therefore ultimately translate into greater financial security.
Take advantage of the current period to choose the right platform?!
The current gloomy period is an opportunity to open an online account from a secure platform publishing a reliable PoR with a ratio of 1:1. Many traders and investors are now moving towards the OKX platform.
| Minimum deposit: | 10 dollars |
| Payment methods: | Bank transfer, Visa, Mastercard, Apple Pay |
| Customer Reviews: | 4,3 (Play Store) |
| Name of available cryptos: | 343 cryptocurrencies available |
| Reserve evidence: | Oui |
| Accessibility: | Easy access |
| Rates | Low fees (0.10% maximum trading fee per trade) |
The platform is one of the first crypto platforms to display proof of reserve, which is a guarantee of security for customers of this platform. The platform is based in the Seychelles Islands.
The advantages of the OKX platform?
The OKX trading platform offers a wide range of products and services for crypto traders and investors. It is possible to buy or sell the main cryptos on the market, but also to trade derivative financial products such as options or futures on cryptos. The platform also offers trading bots for automated trading.
Transaction fees are very low and decreasing: maximum 0.10% per transaction. The fees vary depending on the type of user: “Regular” or “VIP”, and depending on the trading volume / portfolio size.
Crypto-assets are a risky investment.
“Not Your Keys, Not Your Coins”
This is the great lesson of the FTX crisis! This reminds us how important it is to store your own private keys yourself in your own locally accessible wallet on your computer or mobile phone. Private keys must be stored in a secure space inaccessible to unauthorized persons.
Current pre-sales: opportunities to seize on the market?
Despite the fall of FTX and the crash of cryptos, several projects continue to attract investor interest.
Dash2Trade: the educational platform
Dash2Trade is the new project from the Learn2Trade team, an educational platform to practice trading. The pre-sale of the native token of the platform Dash2Trade (D2T) is a real success with more than 7.1 million dollars raised.
Crypto-assets are a risky investment.
IMPT: the ecological platform
TAX is one of the most promising environmental projects in 2022. The platform is positioned on the voluntary carbon credits market, a market estimated at 700 million dollars by 2027. The presale of its token: IMPT has been a real success with more than 13.2 million dollars raised in a few weeks.
Crypto-assets are a risky investment.
RobotEra: the P2E game
RobotEra is one of jeux Play To Earn the most innovative and exciting of the moment. The game is inspired by the Minecraft universe and Second Life, the old popular game of the 2000s. Fundraising for this game has been a real success with more than $240,000 already collected.
Crypto-assets are a risky investment.
Calvaria: the NFT game
Skull Duels of Eternity is a new particularly innovative NFT game. Players compete around a game board using battle cards. The pre-sale of the game’s native token has been a real success with nearly $2 million already raised.
Crypto-assets are a risky investment.
To know more :
Despite the fall of FTX and the crypto crash, discover the 4 pre-sales that are a hit!
