CRYPTOCURRENCIES /SOME THOUGHTS ON THE PAST FEW HECTIC MONTHS.

Written by:Diomer Antonio Galán Rincón.

Bachelor's Degree.Public Accounting / MSc.Science of Higher Education.

These past months of the year 2021 have been marked by a convulsive crypto market. The increase in the price of one of the most popular cryptocurrencies such as Bitcoin, has focused the attention of a large number of investors in a market that was previously observed with great discretion until recently, and now it is the large corporations that have decided to become part of the universe of cryptocurrencies, as well as sports personalities, celebrities and billionaires who are shaking a market.

During these months of the year 2021, some events have been observed that have incited an unusual behavior of cryptocurrencies.

Among those we can mention are: The position adopted by the People's Bank of China of not accepting the commercialization of cryptocurrencies, nor tokens, to make any payment, as well as the prohibition of mining due to the high energy consumption and the damage caused to the environment of their country, which leads to an exodus of miners to other countries where the regulations are not present.

Another event has been the sudden tweets of billionaire Elon Musk, which led to sudden ups and downs of the cryptocurrency market and especially the Bitcoin, in addition to these sudden news, which makes the market distorted to profit from the manipulation of the same, likewise Mr. Elon Musk reported that he will begin to receive the Bitcoin currency as a means of payment in his company Tesla, but a few weeks after the news, rejects them stating the damage caused to the environment.

The president of El Salvador Nayib Bukele, legalized the cryptocurrencies as legal tender, according to the approval of a law that regulates everything in the matter, determining the bitcoin as currency and with the characteristics of being able to have an unlimited amount for any transaction and to any asset.

Online trading of cryptocurrencies.

There are several ways to know which are the most popular cryptocurrencies, for this just enough to review the online trading platforms, to realize that the Bitcoin and Ethereum are the two cryptocurrencies in the top positions, of course there are countless cryptocurrencies of which we can mention Binance Coin, Tether, Dogecoin, XRP, Polkadot, among others.

There are investors who acquire some cryptocurrencies in any exchange such as Huobi Global, Coinbase, Binance, among others because they see in them a store of value capable of protecting their assets against inflation.

There are several ways to know which are the most popular cryptocurrencies, for this just enough to review the online trading platforms, to realize that the Bitcoin and Ethereum are the two cryptocurrencies in the top positions, of course there are countless cryptocurrencies of which we can mention Binance Coin, Tether, Dogecoin, XRP, Polkadot, among others.

Future of cryptocurrencies and alternatives to central banks:

The uncontrolled fame that the world of cryptocurrencies has acquired has brought down all the walls and neither banks nor governments will be able to stop what is coming, a fact that worries them because they do not have the control as they traditionally had over the resources (money) in such a way that the most predictable thing is that they will try to implement some regulations and laws to control the operations carried out by the entities with cryptocurrencies.

In conclusion, we must wait how this last quarter will develop and observe how cryptocurrencies behave in the face of the challenges ahead. For this reason, we must be attentive and prepared to face any scenario in the case of holding any asset.

I hope you like my article and I would appreciate all your comments.