Cryptocurrency trading has risen from a special interest to a cornerstone of the financial world.
In just over a decade, it has grown to a $1.7 billion market. Spurred by the creation of Bitcoin in 2009, this digital revolution has grown into thousands of cryptocurrencies, each with unique features, functionality, and financial capabilities
By 2024, the crypto market will be a dynamic and volatile business, creating billions of dollars in 24/ 7 marketing exchanges.
As we delve deeper into the complexities of cryptocurrency trading, itโs important to understand the underlying technologyโblockchain and cryptographyโthat ensures the security, transparency, and decentralization of these digital assets.
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CMTrading aims to demystify the world of cryptocurrency trading, covering important concepts such as market trends, trading strategies, and popular assets.
Whether you want to buy your first cryptocurrency or expand your trading portfolio, this guide to the crypto market is challenging but can be a gateway to incredible wealth.
Cryptocurrency trading – Crypto on the rise
Okay, letโs get into the current state of the wild world of cryptocurrency trading. In February, all the latest buzz is about the US Spot Bitcoin ETFs volatility.
Crypto traderโs eyes seem glued to these numbers, trying to read the tea leaves of the next Bitcoin event as the world’s biggest crypto blasts beyond $50,000.
HODL15Capital just dropped amazing news which could mean Bitcoin is on a roller coaster ride.
So, here’s the scoop – Net inflows into Bitcoin ETFs are taking a bit of a break.
On Valentine’s Day 2024, we saw a drop of $340 million into the ETF, which is a major decrease compared to the previous day’s bonanza, where a massive flood of $631 million flooded in. Leading the ETF charge is BlackRockโs iShares Bitcoin ETF, which is raising a staggering $493 million.
Despite that, the vibe is upbeat in the second week of February, with the flow still in the green. Traders are raising the entire cryptocurrency market by buying into the digital token during the month of love.
In addition, the price of Bitcoin on a slight victory dance above $52,000 only adds more fuel to the fire, convincing everyone that digital gold is still in the process of being developed.
Looking at the leaderboard, ARKB is flexing its inflow of $102 million, while GBTC is feeling a little blue, waving goodbye to $131 million.
Fidelityโs FBTC and BITB are feeling the love, however, with some decent injections. But letโs not forget, even though the Invesco Galaxy BTCO saw some people heading for the exits, there was iShares IBIT, which caught that falling star for $225 million.
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Cryptocurrency trading – Bitcoin hits $52k!
Hitting the $52K mark, its price has crypto traders buzzing with confidence. But with ETF flows slowing, it could slow down the rise of the world’s biggest crypto. For, now, however, the glass appears to be half full, and the presence of flow symbolizes unwavering confidence in crypto.
Market gurus are relying on pre-half hype, betting on Bitcoinโs appeal to continue to shine in cryptocurrency trading.
As we navigate these waters, the big question is how this period of volatility in Bitcoin ETFs will shape the future of Bitcoin and the crypto market.
So, there you have it, a rollercoaster ride through the crypto scene, where every twist keeps us on the edge of our seats.
Will Bitcoin keep rising, or are we about to take a short ride? Only time will tell, but one thing is for sure: the crypto world never sleeps, and neither does the buzz around it.
Cryptocurrency trading – Getting in on the action
Let’s enter the whirlwind world of cryptocurrency trading in 2024, where riches are made and lost faster than you can say “blockchain”.
Overall, for crypto traders, itโs been a roller coaster for the past 3 years. It’s an industry where traders and made and lost their fortunes in record time. It’s bizarre because crypto tokens aren’t tied to any traditional assets i.e Gold or the US Dollar.
Yet, they continue to grow and gain hundreds of millions in capitalisation.
Cryptocurrency trading has turned into a behemoth, a digital playground where the rules are written in code and the scoreboard changes in nanoseconds.
Itโs like the Wild West, but instead of cowboys, we have coders, and instead of panning for gold, we have crypto miners creating Bitcoin & Ethereum.
Before we jump into the nitty-gritty, letโs take a look at the big picture. Financial markets are a vast ocean, and the crypto market is an interesting, albeit elusive, fish.
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Here is a table listing the 25 most valuable assets and largest companies in the world by market capitalization and their price per share or ounce: Info by Companies Marketcap
| Rank | Asset/Company | Market Cap | Value/Share |
|---|---|---|---|
| 1 | Gold | $12.732 trillion | $1,930 per ounce |
| 2 | Apple | $2.167 trillion | $136.86 per share |
| 3 | Saudi Aramco | $1.887 trillion | $8.58 per share |
| 4 | Microsoft | $1.785 trillion | $239.51 per share |
| 5 | Silver | $1.351 trillion | $24.02 per ounce |
| 6 | Alphabet (Google) | $1.268 trillion | $98.48 per share |
| 7 | Amazon | $983.34 billion | $96.39 per share |
| 8 | Berkshire Hathaway | $676.47 billion | $306.76 per share |
| 9 | Tencent | $481.02 billion | $50.32 per share |
| 10 | Visa | $472.03 billion | $222.91 per share |
| 11 | TSMC | $471.32 billion | $90.88 per share |
| 12 | ExxonMobil | $463.64 billion | $112.58 per share |
| 13 | UnitedHealth | $451.40 billion | $483.12 per share |
| 14 | NVIDIA | $439.81 billion | $176.49 per share |
| 15 | Johnson & Johnson | $438.55 billion | $167.74 per share |
| 16 | LVMH | $425.98 billion | $850.14 per share |
| 17 | Tesla | $416.25 billion | $131.82 per share |
| 18 | Bitcoin | $412.22 billion | $21,387 per Bitcoin |
| 19 | JPMorgan Chase | $393.86 billion | $134.23 per share |
| 20 | Walmart | $377.06 billion | $139.82 per share |
| 21 | Meta Platforms (Facebook) | $363.81 billion | $138.74 per share |
| 22 | SPDR S&P 500 ETF Trust | $361.09 billion | $393.44 per share |
| 23 | Mastercard | $359.66 billion | $374.08 per share |
| 24 | Chevron | $348.71 billion | $180.34 per share |
| 25 | Kweichow Moutai | $348.71 billion | $277.59 per share |
This list includes a mix of physical assets like gold and silver, technology giants, financial institutions, and other major corporations, highlighting their significant market cap values and the price of their shares or units. โ
As you can see, Bitcoin is higher in value than JPMorgan Chase and Meta!
Cryptocurrency Trading: – Most popular Cryptocurrencies in 2024
Here’s a snapshot of the top 10 most popular cryptocurrencies as of February 2024: Info by Coinmarketcap
| Rank | Logo | Name | Symbol | Price | Market Cap |
|---|---|---|---|---|---|
| 1 | BTC | Bitcoin | BTC | $52,339.42 | $1,027,344,012,073 |
| 2 | ETH | Ethereum | ETH | $2,792.91 | $335,615,271,668 |
| 3 | USDT | Tether USDt | USDT | $1.00 | $96,974,175,032 |
| 4 | BNB | BNB | BNB | $347.17 | $51,917,561,817 |
| 5 | SOL | Solana | SOL | $115.97 | $50,727,439,478 |
| 6 | XRP | XRP | XRP | $0.5496 | $29,956,180,567 |
| 7 | USDC | USDC | USDC | $0.9994 | $28,029,926,013 |
| 8 | ADA | Cardano | ADA | $0.5872 | $20,816,003,603 |
| 9 | AVAX | Avalanche | AVAX | $42.85 | $15,745,466,368 |
| 10 | DOGE | Dogecoin | DOGE | $0.08569 | $12,284,373,335 |
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Cryptocurrency Trading: Top crypto Assets
Bitcoin (BTC)
History: Created in 2009 by an unknown person under the pseudonym Satoshi Nakamoto, Bitcoin introduced the concept of blockchain technology and decentralized digital currencies
Performance in 2024: Bitcoin continues to lead the crypto market well into 2024
How it works: It works on a peer-to-peer network using blockchain technology for secure and transparent transactions.
How to Trade: Trading on platforms like CMTrading is easy, and appealing to beginners and experienced players alike.
Ethereum (ETH).
History: Conceived by Vitalik Buterin, Ethereum launched in 2015, introducing smart contracts and decentralized applications.
Performance in 2024: Continues to innovate through growth, influencing the DeFi and NFT markets.
How it works: It uses blockchain technology, enabling smart contracts and dApps.
How to trade: ETH is available on CMTrading, providing opportunities for various investment strategies.
Tether (USDT) .
History: Founded in 2014, Tether pioneered the concept of stablecoins in the cryptocurrency market.
Performance in 2024: US. dollar holds its peg, providing momentum in volatile crypto markets.
How it works: It aims to maintain a 1:1 price-to-USD ratio.
How to trade: It is widely used for trading as a stable underlying currency on most cryptocurrency exchanges.
Binance Coin (BNB) .
History: Created by the Binance exchange in 2017, BNB has evolved from a simple utility token into a widely used cryptocurrency.
Performance in 2024: Continues to grow as the Binance ecosystem expands.
How it works: It offers discounted transaction fees on Binance and supports applications in its ecosystem.
How to trade: BNB can be traded on CMTrading, which provides exposure to one of the major crypto exchanges.
Solana (SOL)
History: Founded in 2020, Solana offers a high-performance blockchain focused on scalability and speed.
Performance in 2024: Not yet popular due to the speed of transactions and low cost.
How it works: It uses hybrid thinking with a unique conceptual model that combines historical evidence with anecdotal evidence.
How to trade: Located on CMTrading, Solana appeals to traders who are interested in new high-potential cryptocurrencies.
XRP (Ripple)
History: Developed by Ripple Labs in 2012, XRP is designed for fast and inexpensive cross-border communications.
Performance in 2024: A popular choice for international remittances and stock market shares.
How it works: It works on a distributed open-source protocol with consensus ledgers.
How to trade: XRP is traded on CMTrading, which is suitable for those interested in the payments and remittances market.
USDC
History: Founded in 2018 by Circle and Coinbase, USDC is a fully collateralized stablecoin.
Performance in 2024: stablecoin is a staple in the market, providing security for traders.
How it works: It’s tethered to the US dollar at a 1:1 ratio, offering a more stable token in the crypto market.
How to trade: Most cryptocurrency exchanges use USDC as a stablecoin for trading and transactions.
Cardano (ADA).
History: Developed by Charles Hoskinson, one of the co-founders of Ethereum, and launched in 2017, Cardano focuses on sustainability and scientific philosophy
Performance in 2024: Known for its rigorous approach to development, it has potential in a variety of applications.
How it works: It uses proof-of-claim protocols, which aim to provide high scalability and interoperability.
How to trade: ADA can be traded on CMtrading
Avalance (AVAX) .
History: Founded in 2020, Avalanche focuses on increasing performance at high performance in decentralized applications.
Performance in 2024: Recognized for speed, lower infrastructure costs, and ecosystem growth.
How it works: It uses a unique validation tool, which allows custom blockchains to be created.
How commercial: AVAX is traded on most cryptocurrency exchanges, which appeals to those interested in new blockchain technologies.
Dogecoin (DOGE).
History: Made as a joke in 2013, it quickly gained a huge following and became a serious player in the crypto market.
News and Business in 2023: Dogecoin has received attention from high-profile individuals and businesses, which has influenced its market performance.
How it works: It works as a peer-to-peer digital currency, primarily for tipping and charitable donations online.
How to trade: DOGE can be traded on CMTrading which caters to those interested in community-controlled digital currencies.
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Why in the world would anyone want to trade this digital asset?ย
- Decentralization – You are the boss, no middleman to take your slice of the pie.
- Volatility – A trader’s dream, where the brave can turn volatility into success in a matter of minutes.
- 24/7 market – You can trade whenever and wherever. Many traders aim for the weekend with crypto
- Innovation – Digital currency is the future of financial trading today; think of it like investing in the internet in the ’90s.
Itโs not all rainbows and unicorns. Here are reasons to proceed with caution when trading crypto:
- Volatility: Crypto prices change by a second, making it more volatile than Forex trading
- Security threat: Scammers, hackers, and a lack of regulation make the crypto world extremely dangerous to operate in
- Legal uncertainty: Governments and regulations are still trying to figure out crypto, meaning little to no financial recourse in the event of a scam.
- Complexity: The market isn’t beginner-friendly; there is a steep learning curve to climb.
In conclusion, cryptocurrency trading is a land of opportunity, fraught with risk but full of potential. Whether youโre in it for the promise of excitement, novelty, or untold riches, remember to tread carefully, do your homework, and, maybe, just maybe, youโll strike digital gold.
Cryptocurrency Trading in South Africa: The advantages of doing business with CMTrading in 2024
- Regulatory Compliance and Security: CMTrading adheres to strict regulatory standards, providing a safe and transparent trading environment.
- Sophisticated technology integration: The platform incorporates the latest technological advancements, ensuring faster and more informed business decisions.
- Award-winning services: CMTradingโs services are recognized across all industries, reflecting its excellence in customer service, technology and overall trading experience
- Asset diversification: Traders have access to a wide range of trading tools, which allows them to diversify portfolios and access market opportunities
- Educational Resources and Support: CMTrading offers extensive educational resources, equips new and experienced traders, and provides exceptional customer support.
- Advanced risk management tools: The platform provides sophisticated tools for effective risk management, which is an important part of trading, especially during volatile times like earnings season.
- Wide competition and low costs: CMTrading offers low-cost trading, which is crucial to profitability, especially for everyday traders.
- Community and networking opportunities: The platform hosts a group of merchants, providing opportunities for networking and shared planning, enhancing the overall shopping experience.
- Continuous Innovation: CMTrading frequently innovates its services, ensuring that traders have access to the most current and effective trading tools and products.
