The crypto market is now developing gradually to be one of the most lucrative markets in the world. Many people are running into the need to make a profit either by trading or by holding. These two methods have made people on the market millionaires. The crypto market has been known for it its decentralized nature. This means that no one controls the market. However, in recent times, there are claims that many people control the flow of the crypto market, even though the market claims to be decentralized. They mention a bunch of names like Elon Musk and some major players in the crypto market. However, is this true? Do we have people that still control the crypto market even though it has been established as a decentralized platform?
Banks and the government have never supported cryptocurrencies; this explains the decentralization feature. Also, the currency is not legally recognized. This means you cannot sue to court as regards the currency. However, people use the currency to make transactions every day. The community has even found a better and easier way to make transactions with what is known as trading bots. You don’t have to do anything apart from giving the bots orders to trade, and you will be making profits. However, this doesn’t mean you wouldn’t incur losses. We have trading bots such as Quantum AI, Cryptohopper, Bitcoin trader, and many more. It has even been reviewed that eKrona is one of the quick ways to make money on the crypto market without really doing a lot.
All the rumours about the crypto market being controlled by a person or group of people are nothing but false and untenable. People are saying that with the snap of the fingers of specific individuals, the crypto market can rise or fall. This isn’t the truth. The crypto market still maintains its decentralized feature. The only issue is that certain factors influence the flow of the market. The rise and fall of the prices of currencies on the market are not controlled by anybody, just some factors that determine the flow of the market. If you can carefully study this flow, you will predict the next place the market is headed. The following are some of the influencing factors that determine the flow of the crypto market.
PRICE AND LIQUIDITY
The price of most currencies on the market is very volatile. This is due toquick access to the purchase and sale of the coins – the exchange platforms being a huge help here. The amount that these currencies are traded every day makes the market flow so that anything is possible at any time.
MEDIA
Another powerhouse that determines the movement of the crypto market is the mass media. The information released by the press regarding the crypto market also goes a long way in affecting how the market would work. For instance, if a finance analyst makes a lousy analysis on bitcoin, many people might believe the analysis and remove their money from the market. This, in turn, leads to a gradual decrement in the value of the coin.
ACCEPTANCE
Another huge factor that determines the market flow is the acceptance of digital currencies by big platforms. For instance, earlier in 2021, Tesla agrees to accept Bitcoin as a mode of payment. This led to a surge in the price of the coin. And with Bitcoin being the most prominent digital currency on the crypto market, all other coins also shot up.
CONCLUSION
This is to mention a few on that determine the flow of the market. The crypto market still strongly is a decentralized platform that any government does not control, person, or group of people who can determine the flow anytime they want. The market, however, is determined by series of events which, if carefully followed,can make one determine how next the crypto market would flow.
