Connect with us

Hi, what are you looking for?

Technology

Crypto Community

Last year saw a major culture shift in the investing world as the stock market rapidly became a mainstream commodity as people stayed inside during the COVID-19 pandemic. In early 2021, we saw retail investors try to take Wall Street back from hedge funds as the Reddit short squeeze phenomenon took center stage. While the lasting impacts of that event have yet to be determined, it showed that small retail still has a voice and that Wall Street is not just owned and operated by institutional investors. What we have also seen over the past calendar year, is the rapid ascension of the cryptocurrency market to prominence, and in some ways overtaking the stock market.

At the time of this writing, Bitcoin and Ethereum, the two largest cryptocurrencies by volume and market cap, are edging towards new all-time highs of $61,712 USD and $2,190.71 respectively. The total market cap of all cryptocurrencies has hit $2 trillion USD, with $1.1 trillion USD of that belonging to Bitcoin. As many crypto bears as there are, nobody can deny that cryptos are here to stay in a world that sees our financial system becoming more and more digitized with each passing week. Recently, China even announced it would begin circulation of a digital version of its yuan fiat currency, that will allow citizens to pay with cash via their smartphones. Although this digital yuan is not on the Blockchain and therefore not unregulated, it is perhaps the first step in the global economy that is finally admitting that digital currencies are the future.

In Canada, crypto exchanges are popping up left, right, and centre, and it is easier than ever to invest in cryptos north of the border. Companies like Mogo (TSE:MOGO), Newton, and Bitbuy, as well as larger American ones like Binance and Coinbase are all inviting Canadian investors to use their platforms.

In Canada, crypto exchanges are popping up left, right, and centre, and it is easier than ever to invest in cryptos north of the border. Companies like Mogo (TSE:MOGO), Newton, and Bitbuy, as well as larger American ones like Binance and Coinbase are all inviting Canadian investors to use their platforms. A Vancouver-based firm called TechX Technologies (CNSX:TECX) recently announced it would be creating the first Canadian stablecoin called CADX and will be valued against the Canadian Dollar, in a similar way to the USD Coin tracking the U.S. Dollar.

Cryptocurrencies (Featured Image)

Crypto Community

Last year saw a major culture shift in the investing world as the stock market rapidly became a mainstream commodity as people stayed inside during the COVID-19 pandemic. In early 2021, we saw retail investors try to take Wall Street back from hedge funds as the Reddit short squeeze phenomenon took center stage. While the lasting impacts of that event have yet to be determined, it showed that small retail still has a voice and that Wall Street is not just owned and operated by institutional investors. What we have also seen over the past calendar year, is the rapid ascension of the cryptocurrency market to prominence, and in some ways overtaking the stock market.

At the time of this writing, Bitcoin and Ethereum, the two largest cryptocurrencies by volume and market cap, are edging towards new all-time highs of $61,712 USD and $2,190.71 respectively. The total market cap of all cryptocurrencies has hit $2 trillion USD, with $1.1 trillion USD of that belonging to Bitcoin. As many crypto bears as there are, nobody can deny that cryptos are here to stay in a world that sees our financial system becoming more and more digitized with each passing week. Recently, China even announced it would begin circulation of a digital version of its yuan fiat currency, that will allow citizens to pay with cash via their smartphones. Although this digital yuan is not on the Blockchain and therefore not unregulated, it is perhaps the first step in the global economy that is finally admitting that digital currencies are the future.

In Canada, crypto exchanges are popping up left, right, and centre, and it is easier than ever to invest in cryptos north of the border. Companies like Mogo (TSE:MOGO), Newton, and Bitbuy, as well as larger American ones like Binance and Coinbase are all inviting Canadian investors to use their platforms.

In Canada, crypto exchanges are popping up left, right, and centre, and it is easier than ever to invest in cryptos north of the border. Companies like Mogo (TSE:MOGO), Newton, and Bitbuy, as well as larger American ones like Binance and Coinbase are all inviting Canadian investors to use their platforms. A Vancouver-based firm called TechX Technologies (CNSX:TECX) recently announced it would be creating the first Canadian stablecoin called CADX and will be valued against the Canadian Dollar, in a similar way to the USD Coin tracking the U.S. Dollar.

The market manipulation that was seen by securities exchanges like Robinhood and institutional investors like Citadel, are just some of the reasons investors are taking their money out of equities, and placing them into cryptocurrencies. Big banks which have traditionally been used to house savings, have fallen out of favour with these younger generations, who are seeking out investment opportunities that are unregulated and free of government control. There is a dark mistrust that is brewing between the retail and institutional side of investing, and the crypto market has provided a nice safe haven for those who wish to have more control over their money. Another reason for the surge in popularity of cryptos? Fiat currencies like the U.S. Dollar is under serious threat of imminent inflation due to the trillions of dollars that have been injected into the U.S. and global economy. With many analysts expecting a devaluation of fiat currencies, investors are using Bitcoin as a perceived safer hedge with the bonus of having high upside return on your initial investment.

You May Also Like

Blog

An investor’s best friend is the candlestick chart, which you can use to identify trends in stocks, commodities, and currencies. The most reliable patterns...

Technology

The blog post breaks down what are candlestick patterns, how to read easy to see patterns, how candlesticks are formed, how to read charts,...

Diversified Industries

This blog breaks down the essential candlestick patterns that will help traders with investing. Also, investors are encouraged to look into the body, wick,...

Diversified Industries

In this blog we explore the top 6 unknown and cheap stocks for millennials to invest in. This list includes: Zynga (NASDAQ:ZNGA), Franks International...

Investor Scene

InvestorScene.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, in-depth broadcasts on Stock News, Market Analysis and Company Interviews.

InvestorScene.com also provides financial news PR marketing and advertising for third parties for disseminating news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.



Copyright © 2022 www.investorscene.com - a GloBull Media, LLC Brand