#MastertheMarket
The global cryptocurrency market was valued at approximately $1.3 billion in 2021 and is expected to grow to $2.8 billion by 2028, representing a compound annual growth rate of over 12%. These figures, published by market research firm Blue Wave Consulting, highlight the increasing popularity of cryptocurrencies. If you're interested in trading cryptocurrencies, now is the right time to start. But before that, here are some things you should know about this exciting market.
1. How to Start Trading Cryptocurrencies
There are generally two ways to trade cryptocurrencies. They are:
- Cryptocurrency exchanges
- Trading cryptocurrencies via contracts for difference
2. Factors Affecting the Cryptocurrency Market
- Level of risk acceptance in the market
- Regulations
- Economic factors
- Geopolitical events
- Asset-specific driving factors
- Social media
3. How to Choose a Cryptocurrency to Trade?
There are two very important aspects to consider when choosing a cryptocurrency to trade:
- Market capitalization
- Price gains
- Distinctive factors
4. Technical Analysis for Trading Cryptocurrencies