Will We Talk About Cryptocurrencies in 50 Years?

Will we talk about cryptocurrencies in 50 years 2021

The SafeTrading team always has predictions about traditional stock markets, and we know and more or less predict which currency will be in which position or which currencies we will be talking about years later. But, unfortunately, it is not easy to say and think the same thing about cryptocurrencies. Bitcoin, which hit an all-time high and saw an immediate bottom in general terms, is one prime example of this. But there is one more fact: blockchain technology is a very powerful technology.

Crypto signals will be with us for many years to come thanks to their strong ecosystem support. But, unfortunately, it will not be possible to make accurate predictions about predictions such as decline or growth. According to experts, in 50 or 100 years, Crypto signals will continue to exist. There are even those who claim that it will strengthen its position with much more powerful technology.

We also support this idea and believe that cryptocurrencies will become stronger in the coming years. If the legal framework is in place in this regard and governments increase their support, it will be possible to create a cryptocurrency world that will outperform traditional markets.

Country support is important

Currently, many countries are on the cryptocurrency ban agenda, while some countries are gearing up to launch their own official cryptocurrencies. This is exactly what we mean by support, and if governments issue their own currency, the details of the legal rationale will gain momentum. If this continues, cryptocurrencies will be able to compete with traditional currencies in the coming years, and their preference will be given to more people.

It is desirable to prevent cryptocurrencies with bans and sanctions, but we think they will not be successful in this regard. People are very interested in these currencies, and as long as this interest persists, countries will do nothing but support them. Experts’ forecasts are in this direction so far.

The latest situation with bitcoins and altcoins.

While the cryptocurrency market started the day with a green picture, a new ban on cryptocurrencies from the Far East has stymied growth. A new warning from the People’s Bank of China about cryptocurrencies has caused panic in the market – says the analyst of SafeTrading.

The Central Bank of China warns about cryptocurrencies.

No matter how far China has come in terms of central bank digital currencies (CBDCs), it continues its prohibitive cryptocurrency policy. Earlier, China banned the work of crypto-miners. Now the People’s Bank of China has released a new cryptocurrency risk statement. Accordingly, by stating that investing in cryptocurrencies is associated with high risk, PBoC once again plunged investors into panic. But with SafeTrading you shouldn’t panic.

Bitcoin (BTC), the leading cryptocurrency, was on the upward trend shortly before the Chinese news and climbed to $ 35,100. However, after development, BTC, which was under pressure from sellers, fell to the $ 34,000 threshold. BTC needs to cross the $ 37,500 threshold to solidify its upside potential.

Although Ethereum (ETH), the second most popular cryptocurrency, was priced at $ 2,350 for the day, it followed the general market trend and retreated towards the $ 2,280 price range. Experts say the largest altcoin is gearing up for a rally and gaining momentum.

Although Binance Coin (BNB) dropped to the $ 300 range after development, it climbed above $ 310 again with a fast recovery. Although the BNB is facing a critical resistance level of $ 350, according to the analysis, it continues to rise.

At the time of this writing, Dogecoin (DOGE) is trading at $ 0.23, Ripple (XRP) at $ 0.66, Cardano (ADA) at $ 1.41, Polkadot (DOT) at $ 15.45. EOS at $ 3.89, MATIC at $ 1.12.

Bitcoin Demand by Hackers in the Latest US Ransomware Attack!

Last weekend, July 4, a ransomware attack took place in the United States. Ransomware hackers, claiming to be of Russian origin, carried out a cyberattack that affected more than 200 companies.

According to the news, which was reflected in the press the other day, the interlocutor companies were asked for $ 45,000 in Monero in exchange for data recovery. He made a statement from the affected companies and confirmed that they had made such a request.

The hacker group was allegedly of Russian origin. US President Joe Biden said in a statement that they have not yet confirmed this situation.

The hacker group REvil issued a ransom demand today. Ransomware hackers claiming to be of Russian origin have demanded $ 70 million in Bitcoin (BTC) to provide universal decryption codes. Methods for obtaining compromised data are being explored. In case of misunderstanding, there is a risk of information leakage or its irrevocable deletion.

President Joe Biden has given full powers to the FBI. The FBI has launched a large-scale investigation to reveal all the details of the incident. It was also announced that assistance will be provided to companies that have suffered losses. The US government has recently faced ransom attacks.

As you know, a White House spokesman said in a statement before the G7 summit that Biden would also discuss this issue at the summit and that he would discuss ransomware with his interlocutors. After the G7 summit, no statements were made on this matter.

Russia has denied allegations of the involvement of a hacker group. Stating that they had nothing to do with the incident, Moscow said the US should stay away from baseless accusations. It is known that discussions about cyberattacks between the United States and Russia have been going on for a long time.

Also Read – Grimex Cryptocurrency (May 2021) Go Ahead To Know More!

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