Keys to understanding what is happening in the crypto market

Within the crypto market, a fundamental aspect is to be up to date with the main news and, above all, to carry out your own analysis before investing. 10 days ago, the main news that was read on all the portals was the blockade of cryptocurrencies by China. This news at first generated a lot of fear and most people believed that the price of Bitcoin was going to plummet. Nevertheless, It is important to understand that this news was nothing new, since it is not the first time that China has tried to block the use of cryptocurrencies.

Since 2013, it is the seventh time that China has tried to block cryptocurrencies, without success. The only thing they have achieved this time is that the price of Bitcoin increases by 40% since the announcement.

On the other hand, it is important to analyze what also happens with the market for altcoins or alternative currencies to Bitcoin, where cases such as the Luna cryptocurrency, from the Terra project, have had increases close to 25% in the last week.

These price increases show once again the growth that the crypto ecosystem continues to have throughout the world. Its adoption is increasingly widespread, both for its use as a means of payment and as an investment alternative, at the rate that many countries are debating the possibility of adopting Bitcoin as legal tender, following in the footsteps of El Salvador and even, granting subsidies for those who use cryptocurrencies as a form of payment with the aim of achieving an increasing adoption of this ecosystem and its services.

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