At the beginning of 2021, there was a trend that was quite surprising to
many, namely the price of one of the cryptocurrencies soared and touched the
price of $60,000. at that time, many people in the world, even in Indonesia,
flocked to buy this cryptocurrency.
What exactly is Cryptocurrency? definition Cryptocurrency is a digital
currency that applies and can be used in all countries freely and there are
no banks that regulate and store the currency.
In the absence of a bank that stores and regulates Cryptocurrency, this
makes it decentralized, meaning that this currency does not have a third
party, aka peer to peer, so that the transaction makes the process faster
and cheaper than using a third party.
Therefore, many people in the world flock to buy this cryptocurrency.
In the world of Cryptocurrency, there are three types of coins, namely
Fundamental Coins, Stable Coins and Shit Coins or Meme Coins. Fundamental
Coin itself is a cryptocurrency that has clarity on its function in its
creation. The clarity of the team behind it, has a very limited number of
coins, and has high value projects in the future such as Bitcoin(BTC),
Ethereum(ETH), Binance Coin(BNB), and many more.
In addition there is also a Stable Coin, this cryptocurrency is a coin with
a fairly stable value, usually this coin is pegged to conventional
investments such as USD, other digital asset commodities, for example such
as Tether (USDT), Binance USD (BUSD), Rupiah Token (IDRT) and many others.
And finally there is Shit Coin or it can also be called Meme Coin coin.
Coins like this were born without any original purpose in creation, have a
very large and even unlimited supply of coins, and there is no clarity on
who and the team that created this coin so that it can be considered as the
opposite of Fundamental Coin.
For this reason, Meme Coin has a very high fluctuating value due to the
absence of fundamentals in it which in the end its value can sometimes go up
very high and it can also fall very low in a very short time.
Therefore, these coins usually only last a short time without any fomo.
There are so many traders who take advantage of these moments by buying the
Meme Coin in large quantities and after the coin rises at a significant
price. Then they will immediately sell all their coins which causes the
price of the coins to drop drastically. Examples include Dogecoin(DOGE),
Shiba Inu(SHIB), Buff Doge Coin(DOGECOIN).
One of the countries that has actually legalized cryptocurrency as a
currency is El Salvador, led by Nayib Bukele. The country has already
purchased the cryptocurrency Bitcoin in the amount of 1,120 coins. By
looking at this event, we can see that this cryptocurrency has been well
received by the public and has begun to be adopted in various parts of the
world.
The growth of this cryptocurrency is also influenced by a very large and
solid community from around the world. There are several cryptocurrency
communities such as Shiba Inu and Doge Coin which are one of the
cryptocurrency communities.
In addition, there is also the role of an influencer who can also raise the
price of a cryptocurrency, such as Elon Musk who is one of the richest
people in the world with famous companies such as Tesla and Space X.
In mid-2021, one of the cryptocurrencies, namely Doge Coin, has been Tweeted
by Elon Musk, increasing the price of Doge Coin by up to 13,000%. In fact,
one of the companies, namely Tesla, also allows to buy Tesla cars using Doge
Coin so that the popularity of Doge Coin has increased very sharply which is
supported by a lot of people who buy this Cryptocurrency so that the current
price is very high for a meme coin class.
That way we can see the trend of an investment will follow the times and
technology so it is predicted by many experts that the cryptocurrency world
will be very developed for decades later.
This is also based on one of the largest companies in the world, namely
Facebook, which announced the change of its company from being called
Facebook to Meta, where this company is developing a virtual world
technology called Metaverse.
With this announcement, many large companies have started to expand into the
virtual world, such as Gucci, Balenciaga, and Louis Vuitton, and even
leading airlines such as Boeing and Airbus have also announced that they
will build aircraft in the Metaverse World. And of course the world currency
will also use cryptocurrency.
Despite all that, the world of cryptocurrencies has now been taken over by
several well-known companies including large countries such as the United
States and China.
Currently, Grayscale Investments is listed as the company with the highest
bitcoin holders with 653,632.60 BTC followed by Chinese orders which have
194,775.00 BTC. While the United States is in fifth place with a collection
of 70,124.95 BTC.
What do you think about the world of Cryptocurrency? Have you invested in
it?
