Marathon Digital Holdings, a leading crypto mining company in the United States, has announced that it will add the “Made in USA” label to all Bitcoin blocks produced in the country. This move comes after former US President Donald Trump’s statements that Bitcoin should be produced entirely in the US. While Marathon Digital’s decision led to a nationalist approach in the cryptocurrency world, the company also accelerated its Bitcoin purchases.

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Trading is all about risks. Therefore, remember that you take serious risks when trading. Many people see cryptocurrencies as the currency of the future. Are cryptocurrencies really the money of the future? Will we use crypto assets instead of money? The questions are so many that it is impossible to answer them one by one.

There are situations where crypto assets are advantageous or disadvantageous over fiat currencies. Years later you will only be paying with cards, without using paper or coins. In fact, we will spend without touching the money deposited in our bank accounts. In fact, in a way, official coins will turn into digital assets. Although it is seen as a digital asset in cryptocurrencies, it is not officially available yet. Moreover, there is no limited supply.

Cryptoassets are viewed as risks by governments. Few countries support crypto assets. El Salvador comes first. It is not unreasonable to profit by taking advantage of the short or medium-term rise of Bitcoin, since it does not already have enough economic power. However, this is a risk. Because nobody wants to take risks against governments. These assets are not preferred in commercial transactions.

Elon Musk’s idea to sell Tesla for Bitcoin or Dogecoin did not materialize. Because when you take this risk, you can ignore official currencies. If it is banned by governments, it can lead to serious money loss. It could even sink Tesla.
Crypto assets called Coins or Tokens are unlimited. Although the maximum production level is specified, there is no official mechanism to follow this. If there is an official oversight mechanism, crypto assets will be officially recognized. This is something that governments do not want.

Crypto assets should be compared to seashells. Seashells were used as money for a while in human history. However, this idea was abandoned in a short time due to the fact that it could not be audited and created a fair order. Cryptocurrencies, like seashells, may one day lose their value. It is necessary to act with this risk in mind. “You are wrong! Cryptocurrency is the currency of the future! You can say. We can’t say you’re right, just as we can’t say you’re wrong.

Financial investments are decisions that people make freely. We respect these decisions. But consider your risks. Plan your investments without risking all your tangible assets.

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Cryptocurrencies lost value last week, upsetting its investors. On the last day of the week, David Roche from Independent Strategy warned about cryptocurrencies that could not fully enter the uptrend and stated that he is not yet convinced that it is a really suitable investment

The International Monetary Fund (IMF), in its blog post on cryptocurrencies, stated that lawmakers have difficulty in following crypto-focused risks and underlined that there may be risks especially for developing countries.

In the article in question, it was stated that the reactions to the Omicron variant caused rapid capital flows in the market, and this could have a destabilizing effect on the country’s markets in the absence of regulatory measures.

THE LATEST SITUATION IN CRYPTO COINS

While Bitcoin still continues at $ 49 thousand 180 from the level of $ 69 thousand about a month ago, the second rank Ethereum is in the band of $ 4 thousand.

BNB remains in third place and is trading at $563. Tether is trading at $1 and Solana at $170. On the other hand, Cardano in 6th place is trading at $ 1.35 and XRP from the most talked about $ 0.81.

Dogecoin, which started as a joke that attracted the attention of many people and reached a serious market value, is trading at $ 0.16, while Shiba continues to hold on to $ 0.000034. On October 28, the Shiba broke its historical record with $0.00008616.

GOOD NEWS FOR CRYPTO COINS

Bitcoin mining has completely escaped the Chinese crypto pressure that took more than half of the world’s miners offline earlier this year almost overnight.

China has been the epicenter of the world in this regard with its 65-75 percent mining interest. However, Beijing had effectively sent the country’s cryptocurrency miners out of the country in May.

But miners in China have reached the level of regrouping. “Bitcoin has resisted China’s government attack that effectively bans mining, and the network just ignored it,” said Kevin Zhang of Foundry, a digital currency company that helped bring over $400 million of mining equipment to North America.

IT WAS THINKING TO LONGER

The upward momentum in the hash rate could bode well for the price of the world’s most popular cryptocurrency, which dropped 30 percent last month. According to Brandon Arvanaghi, a Bitcoin mining engineer who runs Meow, the company that provides institutional treasury participation in crypto markets, China’s ban is considered a clear “buy” signal, as has previously been the case with Google and Facebook.

Texas Bitcoin miner and engineer Marshall Long, head of architecture at Bitcoin miner Rhodium Enterprises, told CNBC that he was somewhat surprised at the pace of recovery. “I thought we’d be here in late January, early February,” while others thought it would take longer than that, adding another six to twelve months to Long’s estimate.

According to Zhang, the rapid recovery of the Bitcoin network, the US becoming a new center for mining… On the other hand, Foundry CEO Mike Colyer said, “Large, public miners have been able to raise capital to make large purchases.”

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