In recent months, virtual currencies have gone up and down, as some billionaires like Elon Musk and governments decided to give them a boost as legal tender, not only fueled by the COVID-19 pandemic, but also presented some setbacks, such as this May the “cryptocracy” that took place at the beginning, which brought many cryptocurrencies to a standstill.
Despite this scenario, more and more people are venturing into the world of cryptocurrencies with the hope of having a medium to long-term investment despite they are characterized by volatility.
Here we present to you price of major cryptocurrencies for this 2022 September 23:
The bitcoins Today, it is priced at $18,694.62, representing a change of 0.79% in the last hours.
The second most popular cryptocurrency digital currency in the market, ethereum, showed a movement of 2.42% in the last 24 hours, making it worth $1,282.89.
About Tied to the UStrades at $1, so its movement was -0.01% in the last day.
In turn, BNB value is $270.11, a change of 2.01%, while litecoin does the same with $53.29 at 4%.
Finally, dogecoinone of the digital currencies promoted by Elon Musk himself is at $0.06 after a 10.37% change in the last 24 hours.
Crypto Winter: The Latest Cryptocurrency Crisis
In the first months of 2022 In the weeks of May, virtual currencies revealed that, try as they might, they cannot escape the speculative appetiteAfter the so-called “crypto winter” or “cryptocracy”, several digital currencies such as bitcoin, ethereum and the moon from earth a situation that left many investors without savings.
It is called “Cryptoinvierno” when prices drop unexpectedly and no improvement is seen or predicted in the next semester.
This latest episode was driven by several factors: world inflation and a proposal to ban their use and extraction in Russia, which is currently in conflict with Ukraine.
This worrisome term further brings to mind not only the sharp decline of cryptocurrencies, but also declining trading volumes and months of market stagnation, a phenomenon that is also not new, since only in 2018 experienced a similar event.
But the taste in the mouth left by the last crisis is different from what was experienced four years ago, from this cryptography has had a domino effect on all digital currencies and not just a few, so the fear that the negative effects may last longer is latent.
The last crisis boosted bitcoin unexpectedly dropped 77% of its value, until you reach the $28,000 barrier; while others such as Ethereum lost 30.88% of their value during that month. The ripple effect also affected Terra’s stablecoin LUNA, which fell by more than 100 percent. ranging from $118 to $0.09 and still unable to recover from the shock.
Despite the current scenario, there are still those who hope that digital currencies will recover, while others with the same faith have invested in them after taking advantage of the recent disaster that left others without savings.
Its progress in Latin America
Cryptocurrencies in Argentina: Despite the fact that virtual currencies are not legalized in Argentina, after decades of financial instability that citizens have had to face, they are increasingly used and have become one of the Latin American countries with the highest number of cryptocurrencies. In addition, President Alberto Fernández proposed that it be used to fight inflation.
Besides Bitcoin, another popular cryptocurrency is LUNA, a token that is traded on the Terra system and can be purchased from the Tienda Crypto platform. This cryptocurrency managed to reach an all-time high of $119.18.
Cryptocurrencies in Mexico: The Bank of Mexico (Banxico) has determined that none of the institutions participating in the national financial system may use or authorize any transactions through this means of payment. However, the country ranks 14th out of 27 countries that have virtual currencies, ahead of Venezuela and Colombia, and in 2021 it will own about 13 million Finder.
In the territory of Mexico, businessman Ricardo Salinas Pliego, one of the richest in the country, became interested in cryptocurrencies and assured that several of his companies, including his bank, would accept bitcoins in the future; so far this already makes it one of the most popular stores.
Cryptocurrencies in Peru: The Central Reserve Bank of Peru (BCR) has made it clear that its mission is not to be the first or second central bank to regulate the use of cryptocurrencies, due to their inherent instability. However, a few days ago (BCR) president assured that BCR is working on its digital currency project.
Cryptocurrencies in Colombia: The South American country has more than 500 sites that accept cryptocurrency payments. In 2021, Colombia became the third country in the world with the highest growth in bitcoin ownership, surpassed only by Russia and Norway, according to Finder.
Cryptocurrencies in Central America: in the government Saviorgave him their trust and in 2021 June 9 became the first country to legalize bitcoins as legal tender. In addition, President Nayib Bukele announced his intention to create the first Bitcoin City in Konchagwa and it will be financed by bitcoin-backed tokenized bonds.
For regulation of cryptocurrencies
Ante a scenario in which the world economy faces various challenges such as inflation, the Russia-Ukraine war, the impact of the coronavirus pandemic on supply chains and other factors, governments have begun to reconsider previously unimaginable alternatives such as the legalization of cryptocurrencies.
Recently, the president ParaguayMario Abdo Benítez, vetoed the bill which…