Mark Tencaten | Mark Tencaten NGS Group

For the first time since June of last year, Bitcoin (BTC) has been above $30,000, reaching a high of roughly $31,400 this morning. According to Mark Tencaten, the price of Bitcoin has increased by almost 80% from the year's beginning. It still has plenty of time to go before it reaches its 2021 high of roughly $69,000, which is astounding. Mark Tencaten explains the reasons behind its current price movement and the implications for investors. What is driving Bitcoin's surge? A number of factors have fueled the current increase in Bitcoin. The most prominent of them is the notion that the Federal Reserve may decide to cease raising interest rates. In an aggressive effort to rein in inflation, the Fed has been driving interest rates upward. This significantly influenced cryptocurrency values since it meant that investors withdrew from riskier investments like Bitcoin. If the Fed relieves its stricter policies, it is believed that investors may turn back to cryptocurrencies.

A cryptocurrency is a form of digital or virtual money that is protected by encryption and virtually hard to duplicate or counterfeit. Blockchain technology, a distributed record enforced by a dispersed network of computers, is the foundation of many cryptocurrency-decentralized networks. In general, cryptocurrencies are not issued by any central agency, making them theoretically resistant to government intervention or manipulation. This is a distinguishing characteristic of cryptocurrencies. Cryptocurrencies: Are They Legal? Governments or financial institutions are the sources of fiat currency authority. But neither a public nor a private entity is backing cryptocurrencies. As a result, it has been challenging to argue for their legal standing in many financial jurisdictions across the globe. The fact that cryptocurrencies have generally operated outside of the majority of the current financial infrastructure does not assist the situation. Their legal status impacts the usage of c

Like any new technology, the cryptocurrency sector has had its share of failures and controversies over the past ten years despite seeing exponential growth. Every time Bitcoin has a setback, Mark Tencaten says that we, as supporters of the technology, must reaffirm its importance, our own beliefs, and the rationale for the project we're working on. Following the collapse of FTX, the organization that ran a cryptocurrency exchange and hedge fund, there is a chance for institutions to band together to implement changes, regulations, and business alliances that will increase confidence in the cryptocurrency markets and open the way for a blockchain-based global economy. Internet of value Similar to how the internet revolutionized the flow of information, blockchain and cryptocurrencies are revolutionizing the exchange of wealth. The path will be quite similar. The idea behind the cryptocurrency movement was born out of the 2008 financial crisis and the idea that the financial sy

For many investors, bitcoin has been an incredible investment. Since 2013, it has increased by 2,500%, rising from $99.99 to over $25,000. However, cryptocurrency is complicated, and con artists like preying on those who are unaware of how to make investments in Bitcoin. According to Mark Tencaten , between 2021 and 2022, scammers stole over $1 billion worth of cryptocurrency, mostly Bitcoin. The romance itself isn't safe from con artists; one of the most widespread types of cryptocurrency fraud is the romance scam. Major cryptocurrency frauds Cryptocurrency is unregulated. People are unsure about whom to believe. The worst cryptocurrency frauds that traders should be aware of are listed in the 2022 FTC report: ·         Financial investment-related fraud ·         Romance fraud ·         Business fraudsters Scam activity totaling more than $500 million can be boiled down to bogus investments. Americans interested in cryptocurrencies are contacted by fraud artists who