Re: Make even more profit on crypto trading with trade-mate.io
Main cryptocurrency trends of 2020
The main events associated with the crypto world are connected with the interventions of authorities and financial regulators. The SEC notes that it is positive about the adoption of liquid instruments for trading cryptocurrencies by institutional investors, but exchanges need to meet certain requirements. The legislation is being actively developed that defines the rules for conducting cryptocurrency transactions and taxation of digital money.
Major banks in developed countries, including the United States, Japan, China, and America, are developing mechanisms for creating and maintaining digital analogues of national currencies. Attention to the cryptocurrency sector is increasing on the part of governments, so they strive to meet the requirements of modern society, which shows a high interest in the digital monetary system.
Another major event not only for Bitcoin, but also for the entire crypto market will be halving - reducing the reward for extracted blocks by half. Halving helps protect the cryptocurrency from deflation. You can read more about halving in one of our previous posts. Many crypto experts assume that this will cause a new wave of growth. Time will tell if this is the case. Otherwise, mining will be unprofitable, so large mining pools may stop supporting the Bitcoin network and switch to mining other coins. It is difficult to assess the consequences of such an event, but it can have a negative impact on the crypto market. It should be noted that this event can be decisive for the crypto market either way.
We recommend that you protect yourself and use the Trailing Stop tool, which a service for automated trading Trade-mate.io provides. This way you will not miss the potential growth and at the same time protect your deposit from an unexpected collapse of the crypto market. Trade-mate.io allows you to connect to the Binance, BitMEX and Poloniex crypto exchanges and trade in a single terminal without switching between them.
Another equally important event will be the appearance of the technology giants Facebook and Telegram on the crypto market. Companies are preparing to release their own digital tokens Libra and Gram, which will allow users to make purchases and transfers within messengers around the world in a couple of clicks. Currencies will be easier and cheaper to convert into new stablecoins than through banks, which also applies to bank transfers.
Experts, including former JPMorgan chief Executive Tom Lee and entrepreneur John McAfee, known for his outrageous antics, note a mostly positive trend and claim that 2020 will be a positive year for cryptocurrencies. They agree that cryptocurrencies play an important role in the global financial system, and will flourish.