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Dogecoin price hints at great prospects of the crypto market

To enter the crypto market, you need to prepare, noted the crypto millionaire, founder of the TimeX crypto exchange Sergey Sergienko.

Dogecoin price hints at great prospects of the crypto market

Media group "Patriot" and FBA "Economics Today" held a press conference on the topic: "How much can you earn on the popular currency Dogecoin", the reason for which was the sharp growth of this comic financial instrument.

The crypto market is in a rush, but does it make sense to go there for non-professional investors?

The cryptocurrency market will continue to go up

“The process of development of the crypto market will continue higher and higher. With the current two trillion capitalization, we are only 20% from gold capitalization. Regarding Dogecoin, then this is a cool story, next to total capitalization. Based on this I think, that the trend for Dogecoin will go up, and capitalization will increase ", – states Sergienko.

However, it is not easy to compare cryptocurrencies and even more so Dogecoin with gold., being a chemical element. Gold exists physically and has a measure of value not only as the traditional equivalent of money, but also as an industrial metal.

Dogecoin price hints at great prospects of the crypto market

At the beginning 2020 years, the official gold reserve of the countries of the world was 34106,06 tonnes, it includes pure central bank gold, the som, ECB, BMR and WAEMS. One troy ounce of gold is estimated today at 1765 US $.

There is such a tool in the stock market as a gold futures., used in crisis for risk insurance. Only gold, unlike cryptocurrencies, is a tool, where investors keep, do not make money.

“Capitalization of the gold market is 11 trillion, and I made a comparison of the cryptocurrency market with metal for convenience ", – concludes Sergienko.

Professionals have an advantage in the market

There are professional and non-professional investors in the stock market. Because of this, the Russian authorities decided to restrict the admission of individuals to the purchase of shares and created a buffer in the form of an individual investment account..

On the crypto market, the rules of the game are not settled - there are no restrictions. People go there at their own peril and risk in the hope of buying a conditional bitcoin, keep it in your wallet, and then sell it and make good money.

Dogecoin price hints at great prospects of the crypto market

“If a person wants to make money, then you need to study the issue. If you are not a plumber, then you won't go and fix pipes. It's the same here, if you want to go and play, you don't have to think, that the bull market will last forever ", – summarizes Sergienko.

Bulls are stock market players, pending price increases. The current interest in cryptocurrencies is driven by their rampant growth., but it is based on hype and information hype, not supported by real material reasons.

“Markets are always cyclical, so the same with crypt. Don't expect, what, having flown into the crypt without preparation, you will always have a green bar, and everything will go up. It is necessary to study the issue and then, what are you doing", – states Sergienko.

The latest boom in cryptocurrencies was triggered by the "coronavirus" and uncertainty in the global economy and the stock market. There is data for the USA, what's in the helicopter money, issued by Washington to American citizens, partially burned out in the cryptocurrency market.

Dogecoin price hints at great prospects of the crypto market

People have a lot of time, Free money, and they were interested in a popular financial instrument.

“This is one of the factors, but not the main one, we call them "retail investors". Institutional investors entered the market in the last crypto rally, what caused the excitement. Retail, Yes, comes in, but this is the tail of the process - professionals operate with large amounts. Money is made in retail, because he does not lift anything ", – concludes Sergienko.

Dmitry Sikorski

A source