Cryptocurrency trading is not just limited to Bitcoin. There are two dominant narratives in crypto in 2024, meme coins and artificial intelligence. While the rise of artificial intelligence-based crypto tokens such as NEAR Protocol, Internet Computer, and Render Token have taken the crypto investing world by storm, the inherent risk-on nature of crypto as a whole has led many traders and investors to dabble in meme tokens such as Pepe, Floki and DogWifHat which boast strong online communities and good trading volatility.
Crypto Face’s advanced trading tool Market Cipher helps traders and investors in 2024 to earn a profit trading these wildly successful projects. As a trader, Crypto Face is less concerned about up or down and more looking for volatility which meme coins like Pepe have provided even when Bitcoin remained stagnant. Crypto Face believes that any looming market crisis in crypto is merely an opportunity for traders to adapt and innovate as the reward for participating in crypto trading can be immense, whether prices rise or fall, due to the massive swings in the markets.
Major institutions more strongly back the 2024 narrative for crypto than any previous crypto bull cycle. The crypto markets have attracted a wide range of investors, from individuals to large-scale ETFs onboarding thousands of new users eager to participate in the crypto volatility without having to deal with self-custody risks. Early adopters of cryptocurrencies have experienced significant wealth creation, although the market remains highly volatile.
Investing in cryptocurrencies like Bitcoin are often viewed as a hedge against inflation and currency devaluation, particularly in nations with unstable paper currencies. The rise of crypto challenges traditional monetary policy and the central banks’ control over money supply. Countries have varied drastically in their approach to regulation, from supportive frameworks encouraging a new age of financial innovation to outright bans aimed at preventing financial instability.
Cryptocurrencies may expose users to security risks. Even though most blockchains themselves are highly secure, the rise of wallet hacking and impersonation of online personas creates a gatekeeping effect to anyone who enters the space as a newbie. Losing your wallet security passphrases and thus all your crypto is a common issue that drives home the fact that in crypto, you truly are your own bank and must take your own self-custody extremely seriously. The rise of ETFs and Futures has allowed crypto enthusiasts’ vehicles to profit off cryptos without having to navigate through many of these risks.
Even with its downsides, cryptocurrency adopters love crypto for its privacy, anonymity transparency, and ease-of-use. They love that there is no CEO, no centralized power controlling the supply of their money. Each crypto comes with its fundamentals and its benefits and drawbacks, but many cryptocurrency holders would agree that believing in a white paper is superior to believing in a central bank. For these reasons, crypto is not just a cultural phenomenon but an economic disruption of traditional finance that is here to stay.
