Due to the fall of Luna and UST as well as another round by Fed interest rate hikes, shrinking the balance sheet, and a further market collapse in May 2022, cryptocurrencies have not seen a significant rebound. The prices of Bitcoins and Ethereum are now lower than their historic highs by over 50%. While other altcoins are experiencing bigger drops, Bitcoin and Ethereum have seen their prices fall by more than 50%. The bearish phase is continuing across the entire crypto market.
But, can Bitcoin and Ethereum ever go to zero? This is not the case. A growing number of crypto users are joining the space as blockchain technology becomes more popular and advances. The market capital of Bitcoin even surpasses that of Meta, which was formerly Facebook. Some traditional institutional investors have begun to invest in the crypto market. Bitcoin is now listed on the balance sheets of increasing numbers of companies. Institutions are increasingly paying attention to Ethereum’s function as a hedge tool, with some countries even adopting Bitcoin as their legal currency.
The general trend predicts that Bitcoin will be adopted by increasing numbers of individuals, businesses, and government officials. Bitcoin has been the subject of many attacks and defamations over the last decade. It was even blocked by certain state regulators. Bitcoin’s resilience has been remarkable despite the challenges. Bitcoin is also starting to be noticed by investors.
Crypto categories such as DeFi, NFT and metaverse have pushed the market to new heights. In today’s market, people can profit not only from direct investments but also from a growing number of crypto-based financial services. Crypto finance is becoming more popular as the products become mature.
We can therefore draw two main conclusions. 1) There will be no decline in the crypto market. An increasing number global users will embrace cryptos and the user base for cryptocurrency will expand. However, 2) Bitcoin’s overall price trend will stay flat. This means that price fluctuations won’t be nearly as large as in previous years, which would mean that BTC prices will not fall.
You don’t need to be panicky if your main cryptos are held, as they will likely increase in value based on past market cycles. We believe that holding onto cryptos is the best strategy for a bear market. To ensure income, you should also increase your cash flow and purchase more cryptos at low prices.
Although some say the best bear strategy is to hoard cryptos, a better approach is to earn more cryptos with one’s existing holding, which resembles earning interests on bank deposits. There are many products available on the crypto market that offer crypto finance. You can find the right product for you by looking at their website.
Which indicators should we consider when choosing a cryptocurrency finance product?
Security is our number one priority. The importance of security is paramount in crypto markets. Small profits can result from deposits being left in an unsecure environment that could lead to huge losses. To lure people into depositing crypto, scammers often offer high returns. Users are tempted by the financial product’s promise of high returns, yet the scammers are targeting their deposits. A lot of crypto users suffered huge losses while trying to gain small profits.
We must ensure that we choose safe and secure crypto exchanges. We all know that many cryptocurrency exchanges have fallen victim to security breaches. Some of the most popular exchanges even lost large amounts of Bitcoin. Users also suffered losses. CoinEx on the other side is the only exchange that has not been hacked. Haipo Yang was the original founder of CoinEx. He once claimed that safety is both its most important promise as well as its greatest strength. As CoinEx always puts users first, the products it developed have kept users’ assets safe and secure, earning the exchange extensive user recognition.
CoinEx can help you get into cryptocurrency finance. It is an exchange with zero accidents. CoinEx introduced Financial Account. This product provides interest for deposit holders and allows users to receive daily returns by simply depositing idle assets into the Account. Compound interests are settled daily. These compound interest are also derived from 70% of crypto loan margin trading revenue, which is stable and reliable.
While some exchanges may offer great returns on their financial services, they often have strings attached. These services may require that you deposit a minimum of $30, $60, or more. In contrast, CoinEx’s Financial Account does not require any minimum deposit period, and users can deposit/withdraw cryptos at any moment.
What are the advantages of on-demand deposits/withdrawals?
The price of cryptos can fluctuate significantly. A cryptocurrency may plunge as much as 20% in a matter of days. A minimum deposit period for crypto-finance products (e.g. If we choose a crypto finance product with a minimum deposit period (e.g. 7 days), it will be difficult to withdraw the funds or to sell the cryptos in order to reduce losses. The small returns on these financial products is not worth the risks and high costs. With CoinEx’s Financial Account, users can deposit/withdraw cryptos anytime they’d like to, which means that they could swiftly withdraw their deposit in the event of significant market volatility while earning profits. Financial Account does not require a minimum deposit, so users are free to make deposits of any amount.
Because it lets us hoard bargain chips at low prices, a crypto bear should not be feared. When a bear arrives, it is important to continue expanding our cash flow. Investors should not only stock up on cryptos using rational strategies but also deposit the holdings in order to ensure financial management.