The entire cryptocurrency market has shrunk from the record-breaking high of $3 trillion in November 2021 to under $1 trillion today.
The cryptocurrency market skyrocketed back in 2020, with the price of popular crypto like Bitcoin breaking records at over $64,000 a coin. However, the aftermath of the pandemic, inflation, and the global recession has dealt a massive blow to the entire industry.
While many people may see this as a sign that you should stay away from the cryptocurrency market, the truth is that now is the best time to invest. This is because you get an ASICS miner and start investing in some of the most popular crypto coins on the market at a massive discount.
Interested in investing in crypto mining? You’re in the right place. Here’s everything you need to know about the crypto market and why you should invest in ASICS mining equipment.
Cryptocurrency is a virtual currency that exists entirely in the virtual space. However, this is more than a digital currency as it’s underpinned by technology to make every transaction secure. Cryptocurrencies are often decentralized, meaning that they are not reliant on any specific government and authority to retain value.
Blockchain technology is there to keep every transaction secure. In simple terms, this technology holds all records and transactions on a public ledger. This ledger is then hosted on multiple different servers at the same time.
It’s no secret that the entire crypto market is dominated by Bitcoin. As one of the first digital assets to gain mainstream attention, Bitcoin is the most popular and valuable cryptocurrency on the market. At the peak of the crypto market, Bitcoin was valued at over $1 trillion, making it one of the most valuable assets you could get your hands on.
The crypto market may have found its origins with Bitcoin, but it has evolved over the last decade. This saw the introduction of a few different cryptocurrencies that are all based on impressive blockchain technology. While Bitcoin remains the largest cryptocurrency, Ethereum is not far behind with a market capitalization of over $150 billion.
Bitcoin has decreased substantially from its all-time high but remains with a market capitalization of $320 billion in December of 2022. In addition to this, Bitcoin has managed to break the boundaries of traditional currencies with many businesses and organizations now accepting it as a form of payment. This highlights the impressive, secure nature of crypto itself.
The entire crypto market was valued at over $3 trillion in November 2021, skyrocketing during the pandemic in 2020. Digital assets grew exponentially over the last few years but were still subject to inflation and the global economy in 2022. This is what saw the introduction of the crypto bear market.
As mentioned above, the crypto market boomed in 2020 and broke records along the way. A single Bitcoin was worth around $7,000 in 2020 but reached a high of $64,400 in November of 2021. While this high was record-breaking in 2021, Bitcoin and the rest of the crypto market have been going down ever since.
Bitcoin ended the year at around $47,000 while the price stands at just $17,000 in December 2022. At its high in November 2021, the entire cryptocurrency market was worth over $3 trillion. However, that number has reduced to under $1 trillion today.
While many may jump to say that cryptocurrencies aren’t great investments, the truth is that the market is simply reacting to the global economy. Inflation has hit record highs around the world, causing a global financial crisis in the process. Despite this hurting everyone’s portfolio, the truth is that this situation makes it the perfect time to invest.
The price of cryptocurrencies can go up and down depending on demand. Since the entire market has been going down for the last year, now is a great time to invest. This is because you can get your hands on the most popular cryptocurrencies at a massive discount.
As mentioned above, Bitcoin has spiraled down from $64,400 to just $17,000 right now. This means that if you were to invest right now and the price of Bitcoin went back to its November high, you would make over 250% on your investment. This means that even if you choose the biggest, most popular cryptocurrency, the upside potential is massive.
ASIC miners are an incredibly simple way to get started in the world of crypto. These miners come fully assembled, allowing you to quickly connect to the blockchain. This means that the only thing you need to do to set the entire rig up is to connect to your router.
This kind of setup allows you to invest in crypto without having to actually buy crypto. This is because the ASIC miner can help keep the blockchain running, earning you a passive income in the process. Whether you choose to mine Bitcoin, Ethereum, or Dogecoin, you can create a stable income for yourself with an ASIC miner.
The biggest selling point of cryptocurrency is the fact that it’s completely decentralized. In theory, this suggests that the crypto market is insulated from global economic trends and can be used as a natural hedge against the market. However, in reality, there are a number of external factors that influence the crypto market.
These factors are similar to what influences the stock market as it surrounds demand and supply. However, the global economy is heavily responsible for dictating the demand. This is why factors such as inflation and the global recession had a negative impact on the crypto market as a whole.
While these economic factors can play a major role, the crypto itself is also important. This is because new technologies and competition can end up influencing the market. Modern technology may shift investments to that crypto, causing people to sell off other investments.
This is one of the main reasons why investing in an ASIC miner is such a great idea as you can profit from the transaction whether they are buying or selling crypto. In simple terms, you can make money when the price goes up and when it goes down as well.
Crypto miners are essential to the blockchain and are rewarded for the work that they do. It’s no secret that crypto mining can allow you to generate a steady, passive income for yourself. However, the question is whether you can generate enough crypto for it to be worth your while.
The most popular crypto to mine is also the most popular crypto out there, Bitcoin. While Bitcoin does have a sliding scale of what it rewards its miners, the rate is around 6.25 Bitcoin right now. However, this rate will be half every four years, making now the perfect time to get started.
Bitcoin rewards its crypto miners in a very simple way. If you’re able to add a block to the blockchain, you will receive 6.25 Bitcoin. At the current rate, this would equal around $105,000.
When it comes to the crypto market, there are still tons of investment opportunities available. These opportunities range from investing in crypto during the bear market to investing in mining rigs to build passive streams of income. Here’s a quick look at these opportunities.
As mentioned above, the downturn of the entire crypto market has made investing in crypto much more affordable. This also means that you can buy popular crypto like Bitcoin for a fraction of what it cost last year. This way, you can diversify your portfolio without taking on as much risk.
Crypto mining rigs don’t need to include complete computers. This is why some crypto mining farms have created entire warehouses that simply store processors that are all connected to the blockchain. Creating a mining rig in this way can help streamline the entire process, allowing you to work more efficiently in the process.
While it’s possible to go out and build a custom rig yourself, the reality is that you don’t have to. This is because you can buy assembled rigs that just require you to connect them to the blockchain to start earning your crypto.
These rigs are also much cheaper than they were in the past due to the crypto bear market. Because of this, now is the perfect time to get everything set up.
The entire cryptocurrency market has been in a bit of a slump over the last year. However, this means that you can invest in some of the most popular cryptocurrencies in the world at a massive discount. Whether you’re looking to mine crypto or just invest in it, the options are limitless.
If you’re thinking of getting started in the world of crypto mining, you need to start with an ASICS miner. This is because the ASICS miner is compact, advanced, and simple to set up. Click here to learn more about getting started today.
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