The currents of change are stirring in the world of Bitcoin and its impact on the HODLers has been profound. Over the course of this price cycle, speculators are finding that the worst performance is often marked with a dip in volume. There are implications to this trend that are worth delving into.

Bitcoin’s Crypto Landscape

The buzz within the cryptocurrency community largely centers on Bitcoin’s fluctuating price cycles. As the market molds itself around these changes, Bitcoin speculators have noted the considerable drop in volume.

The figures show that strikingly, traders are holding about 2.8 million Bitcoin. As the worst performing price cycle grips the crypto landscape, the reaction of hodlers is curious to observe. On surface, it might evoke skepticism regarding the faith of players in Bitcoin’s value. Yet, the underlying reasons and the surrounding context of this phenomenon can offer more comprehensive insights into the scenario.

What inherently stands out about Bitcoin’s tumultuous journey is the fluctuating patterns that seem to define its progress. These ebbs and flows in Bitcoin’s price make for an interesting trend analysis. Understanding such patterns can allow traders to better their trade game and make more refined investment decisions in the crypto market.

The HODLers’ Dilemma

One might wonder what holds the HODLers back from trading their shares given the suffocating circumstance of the price being on a downward spiral over the last few months. The simplest answer comes down to one’s belief in the potential of Bitcoin in the long run.

HODL, an acronym for “Hold on for Dear Life” is predicated on the notion that despite the short-term volatility, the outcome in the long haul will yield positive results. By adhering to this approach, the hodlers implicitly express a firm commitment to Bitcoin’s future potential. They choose to hold on to their Bitcoin holdings with the expectation that the market conditions would improve, offering them lucrative trade opportunities.

This behavior presents a unique dichotomy in the crypto trading world- between short-term speculators who try to benefit from the price volatility, and the hodlers who wait in the wings, betting on the long-term potential of Bitcoin.

Though it might be easy to misinterpret this as a lack of faith in the asset’s potential, the HODLers’ stance offers an intriguing viewpoint on the dynamics of the cryptocurrency market. By choosing to hold their Bitcoins even in the face of price dips, they project confidence in its long-term potential and resilience.

Through the fog of uncertainty, this can serve as a subtle yet powerful testament to Bitcoin’s capacity to bounce back and reclaim its place in the soaring skies of financial investment.

The tumultuous world of cryptocurrency as we know it is marred by its unpredictability. Yet, beneath this surface-level chaos, patterns emerge and so do philosophies guiding investment. The narrative of bitcoin’s price cycle and the quielty confident stance of the hodlers puts into perspective these underlying faiths. It offers a unique insight to how different players interpret and navigate this volatile landscape. It is a gentle reminder of the resilience of Bitcoin and is a testament to the faith that its investors place in it. As we tread onward, it would be interesting to see how this approach impacts the future of Bitcoins, its valuation and its recognition as a reliable asset in the complex world of finance.

Alternative cryptocurrencies (altcoins) emerged on the wave of the success of the first and most famous digital currency, Bitcoin. The main reason for the appearance of altcoins was the need to overcome the limitations and shortcomings of BTC. Bitcoin became the first currency, essentially a revolutionary technology, but slow transactions, high fees, and smart contract limitations did not make it the best.
The first altcoin that gained widespread recognition was Litecoin, launched in 2011. The blockchain was based on BTC technologies but with faster transactions and improved token mining algorithms. Shortly after, others appeared: Ethereum, Ripple, Solana, etc., offering many unique features. The concept of smart contracts was introduced with the advent of Ethereum, which allowed for the creation of decentralized applications (DApps) on its basis.

Reasons for Altcoin Popularity

The popularity of alternative cryptocurrencies is based on several important factors. First of all, it’s about technological innovations. Many altcoins offer improved technological solutions, such as fast and cheap transactions, increased security, and anonymity. Of course, the support of smart contracts and decentralized applications should not be forgotten. These advantages make altcoins attractive to both users and developers.

Secondly, a plus of altcoins is considered the ability to diversify cryptocurrency portfolios to reduce risks and increase potential profits. Due to their diversity and support from market makers on major markets, altcoins offer various investment options.

Thirdly, the community and developer support. Many popular altcoins have active communities and developer teams that tirelessly work on improving technologies and promoting their projects. Communities, in turn, play an important role in the popularization and development of altcoins, attracting new users and investors.

How to Add Popular Altcoins to Your Investment Portfolio?

First of all, you need to assess all risks and familiarize yourself with the market. If you don’t own any cryptocurrency, you can use exchanges to purchase initial funds. If you already have cryptocurrency, you can use online exchangers to replenish your portfolio and quickly control your investments.

A convenient and secure platform for exchanging cryptocurrencies, such as SwapGate.io [https://swapgate.io/?utm_source=abnw], will help you easily exchange crypto assets for others, more in-demand ones like ETH or XMR. You need to take just three simple steps directly on the site to exchange crypto-to-crypto on SwapGate.io.

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Create an account by providing the necessary data, which will be useful for subsequent work with the site. The registration process also ensures security and compliance with regulatory requirements.

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Select the altcoins you have in your wallet and those you want to exchange, then specify the amount. A wide choice of coins on the platform signifies a good exchanger that meets users’ need for variety.

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After confirming the exchange details, you need to wait for the transfer and check your wallet.

In 2024, altcoins continue gaining popularity thanks to innovative technologies that continuously emerge in the media. Alternative cryptocurrencies offer users and investors many advantages, making them an essential part of the cryptocurrency market. Platforms like SwapGate.io [https://swapgate.io/?utm_source=abnw] simplify the cryptocurrency exchange process, making it accessible and convenient for everyone.

Disclaimer: This release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements.

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On-chain sleuths have linked the latest attack on Indian cryptocurrency exchange WazirX to North Korea-based cybercriminals, the latest in a series of coordinated attempts by groups present in the East Asian nation to bleed the growing industry.

After blockchain analytics firm Elliptic’s preliminary inquiry, which tied the $230 million exploit to North Korea, on-chain detective ZachXBT suspected the involvement of the notorious Lazarus Group.

North Korean hackers have long tormented the cryptocurrency space, stealing a whopping $2 billion over the last two years, according to analytics firm Chainalysis.

Benzinga talked to experts to understand why the industry has become a soft target for these unscrupulous players.

‘A Tool To Circumvent Financial Sanctions’

Stephanie Talamantez, a former FBI agent, and currently the Managing Director at security consultancy firm Guidepost Solutions, told Benzinga that these are nothing but financially motivated crimes that exploit the relative ease of cryptocurrency transfers. 

“These hacks enable North Korea to swiftly acquire funds while circumventing imposed restrictions and sanctions,” Talamantez stated. 

She added that the FBI has been relentlessly pursuing Lazarus Group, the syndicate believed to be behind many of the high-profile cryptocurrency hacks, but faces challenges in acting against the perpetrators due to the sanctuary provided by the North Korean government.

“These hacks are state-sponsored activities, and there have been many published reports that these hackers are recruited and trained from an early age,” the former FBI officer said. “They are believed to be part of a grand internal vision for the future of strengthening North Korea’s economy.”

These assertions are not unfounded, as even the U.S. government claims that the illegal proceeds from the thefts are used to fund North Korea’s weapons and missile program.

See Also: Bitcoin, Ethereum, Dogecoin Fall As Trump’s Presidency Odds Dip On Prediction Market: Analyst Highlights ‘Long The Dip Time’

Lack Of Regulations To Blame?

Dr. Michael Skiba, an international expert on financial crime and fraud, said the cryptocurrency industry remains at the top of Lazarus Group’s list as they see it as a low-risk, high-reward endeavor. 

Skiba, who is currently the Criminal Justice Program Director at Colorado State University Global, blamed the industry’s regulatory landscape in part for its undoing. 

“The Lazarus Group employs very sharp IT people who have a high degree of expertise in cryptocurrency, as it is very unchartered ground as far as regulation, law enforcement jurisdiction, and penalties are concerned.”

The vulnerabilities of the cryptocurrency space were acknowledged by people working within the industry as well. 

Jared Grey, CEO of Sushi Labs, linked to the decentralized exchange SushiSwap, admitted that the pseudo-anonymity, decentralized nature, and high value of cryptocurrencies have made it an attractive target for North Korean groups. 

These insights set the stage for deeper discussions at the upcoming Benzinga Future of Digital Assets event on Nov. 19.

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