Cryptocurrency researcher Abdullah Mashat said in an interview with Al Arabiya today, Thursday, that El Salvador’s official adoption of Bitcoin alongside the US dollar is a very bold step.
He added that the currency bitcoin has fluctuated sharply and dropped to 15%, and although many see it as an appropriate opportunity to buy, invest and buy in digital currencies must be gradual and not enter once, whatever the temptations.
He explained that this is due to large fluctuations in digital currencies occurring all the time, which does not happen in stock markets.
Researcher in digital currencies pointed out that Standard Chartered Bank’s expectations of a Bitcoin reaching $ 100,000 by the end of quest’year and the expectations of JPMorgan and Goldman Sachs, are all betting on the entry of investment funds and large capital in Bitcoin, but they still haven’t figured out how it works asset Encrypted, which is still unknown, and the entry of these funds will increase the value of the encrypted currency in future, which is predicted due to the fact that there are a limited number of Bitcoin encrypted assets.
Abdullah Mashat said that the Ethereum currency has seen very large increases due to the development of token non-fungible, but has declined like Bitcoin and Ethereum is expected to rise in future, while noting that this currency does not have a number of its cryptographic units other than Bitcoin.
He added that the Solana coin has seen the biggest increases in the last 12 months of around 7000%, and has doubled 4 times in the last 3 weeks, and is the alternative to the Ethereum currency and its future is very high and the cost of conversion is lower than Ethereum.
Abdullah Mashat explained that Solana’s currency ranks sixth in market value with over $ 60 billion, and the rise is expected to continue, and recently closed a round of investments of 300 million dollars.
Cryptocurrency markets regained some balance today, Thursday, after taking heavy losses yesterday, led by major currencies like Bitcoin and Ether, as the cryptocurrency market value of $ 300 billion evaporated. in one hour.
And the currency bitcoin it recorded losses that touched 20% from yesterday’s highs of $ 43,000.
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