Cryptocurrencies have grown in popularity because of the decentralization ideas they represent and the possibility for significant returns. Still, their volatility remains strong, and these cryptocurrency assets involve a higher risk of loss than many conventional assets. For example, in 2017, Bitcoin values soared from roughly $1,000 to more than $19,000 before falling to around $3,000. 1
The price of Bitcoin then surged again until the end of 2020, hitting new highs of over $60,000 before plummeting below $30,000 in the summer of 2021.
Cryptocurrency is digital or virtual money that may use to make a transaction. The prefix “crypto” refers to the fact that cryptocurrencies employ cryptography to safeguard and verify transactions and produce new currency units (coins). Cryptography makes it simple to encode anything simple to decode with a key but difficult to interpret without one, which means that coins may be complex to manufacture, but…