Market in red: what is the price of Bitcoin and Ethereum today, Friday, December 17

During the weekend all cryptocurrencies were stable, reaching up to $ 50,000 but then bouncing and falling again

After reaching new historical highs (ATH) above US $ 68,500 a few months ago, the price of Bitcoin, Ethereum and the rest of the market suffered a resounding collapse of almost 20% and took the market ahead full.

Today the BTC woke up with numbers in red. It is trading at $ 47,002.91 per unit and in the last 24 hours the price variation of the digital currency was -4.40%. The market capitalization of Bitcoin is u $ s890,577,127,163 and 18,903,168 circulates BTC.

The variation in the price of Bitcoin in the last year. Source: coinmarketcap.com.

On the platform for buying and selling cryptocurrencies Gravel, BTC today reaches the value of $ 9,372,637.32 in pesos for the purchase and 9,086,188.29 for the sale, with a variation of -1.41%. It should be noted that this new value is tied to that of the parallel dollar in Argentina.

The variation in the price of Bitcoin in pesos in the last year. Source: Ripio.

The variation in the price of Bitcoin in pesos in the last year. Source: Ripio.

The price of the other cryptocurrencies:

  • Ethereum: u$s3,829.96 (-5.39%)
  • Dogecoin: u$s0,17 (-6,06%)
  • SHIIBA INU: u$s0,000031 (-6,35%)
  • Chainlink: u$s18,77 (-5,91%)
  • Binance Coin: u $ s527.90 (-2,07%)
  • Litecoin: u $ s147,12 (-5,19%)
  • Polkadot: u$s24,95 (-8,59%)
  • Cardano: u$s1,23 (-6,22%)

To buy or not to buy?

The experts do not doubt it. Those who wish to bet on cryptocurrencies for the long term, any time to buy is good since, they say, the price will continue to rise in the next years. Doubts are limited to those seeking short profitability horizons.

“It is good news that Bitcoin is back at $ 60,000, since returned to pre-ban levels in China. It is understandable if it stabilizes at a similar value to the current one for a while, “he points out to iProUP Maximiliano Hinz, Latam Operations Director of Binance.

Hinz remarks that “it may continue to rise, although some type of correction is not ruled out: as long as the market grows very fast, corrects again. Anyway, I don’t think it will go back to values ​​of $ 40,000, rather I see it around $ 50,000. “

“I didn’t buy anymore for quite a while, but for me It will continue to rise and it is always a good time to enter, especially if you understand bitcoin as a long-term investment: 10 years from now, $ 67,000 will look like a gift“, he points to iProUP Agustín Abraham, Marketing Manager (CMO) of Let’sBit.

According to the manager, “if your strategy is long-term, it is better to hold (keep the investment). If you think that in a year you have to take profits, Bitcoin will have already passed that upward cycle that we see every four years due to halvings “, that is, when the network cuts the emission rate in half.

According to experts, the upward trend will continue thanks to its growing adoption

According to experts, it will continue the uptrend of Bitcoin thanks to its growing adoption

Federico Goldberg, CEO of StoreDollar, matches and highlights iProUP that “there are always chances to enter. In fact, those who did it for $ 20,000 a few years ago, suffered a loss that they remember today with a smile. The important thing is to enter little by little, as to average the price: never jump with everything together in case there are falls “.

For his part, Emiliano Limia, Press Officer of BuenBit, remarks to iProUP a fact to take into account: the use of Bitcoin is in full growth and there is still a chance that the trend will continue.

“A Chainlaysis report suggests that crypto adoption advanced 2,300% since the third quarter of 2019 and almost 900% in the last year. In Latin America, because we turn to crypto to preserve value or send and receive remittances; but in the United States, Europe and Asia institutional investment is growing “, he assures.

Abraham Cobos, Crypto Manager for Bitso LATAM, assures iProUP that “Bitcoin appears to be in a bull market (bull market) based on several elements“, among which the following stand out:

  • “The first bitcoin exchange-traded fund (ETF) took its first steps on Wall Street”
  • “It was believed for years that China controlled the price, but it prohibited any use of this asset and eliminated that speculation”
  • “The United States is strongly consolidating mining power”

This reinforces the account that it can prosper in free countries“, completes the manager, suggesting that Beijing moods will cease to impact strongly in the prices while the acceptance of the first global power will offer a more investor-friendly framework of stability.

In this sense, Cobos points out that “Bitcoin is the only asset in the world of which we know what its total supply will be (21 million, a figure that will reach the year 2140) and its economic policy is based on mathematics. “And to this predictability is added another: no digital currency offers the confidence that Satoshi Nakamoto’s invention possesses so far.

Juan Pablo Thieriot, CEO of UpHold, affirms to iProUP that the virtual currency record “is very correlated with what happens in the market of US stocks. If they continue to rise, there is some possibility that lay the foundations for bitcoin to do its race The Blow-Off Top and a big step, in my opinion, towards u $s100,000 expected by the end of the year“.

“It depends on each person: I have a conservative profile and a 100% Bitcoin portfolio. It has always demonstrated and will be the only one to demonstrate its safety for the longest time. No crypto can say that it is 10 years without errors and active. When Ether or Litecoin reach a decade, Bitcoin will be 15 years old “, remarks the CMO of Let’sBit

Hinz agrees that If the “good news” follows, the price of Bitcoin will maintain its upward curve.

The Savior enabling Bitcoin as legal tender, countries of Europe that remove restrictions or generate frameworks to operate, Brazil analyzing projects, U.S speaking in favor of its use. We are moving towards increased use and it always accompanies the price, “he remarks.

Short term

Beyond buying is the ideal long-term strategy, in the short it is possible to go towards a stable currency that trades at the same rate as the dollar (What DAI, USDT and USDC, among others), in order to put them to perform and wait for Bitcoin to go down and, with those funds, later acquire more units of the leading cryptocurrency.

In this case, decentralized finance or DeFi comes into play, which consist of 100% automated instruments, based on a smart contract (software) who is in charge of receiving, invest and distribute funds without an entity or company acting as an intermediary. While this strategy can be implemented at any time, the million dollar question is whether the ideal is now.

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“We have to analyze the type of DeFi project and the risk we want to take. Bitcoin, being the oldest cryptocurrency, is the most stable project. It is very difficult for it to give profits of 10 or 20 times in the short term, but also to result in losses for those values. In the DeFi world, it’s very easy to win and lose even 100%, “says Hinz.

For Abraham, “Defi is a good option for those who do not want to be in Bitcoin or are worried about liquidity. Whoever is attracted to it, should start exploring. There are interesting alternatives. ”

“There are protocols that give returns in Bitcoin or platforms like Buenbit that function as a bridge towards them and propose daily profits, “says Limia. Among them, the staking, operative comparable to the traditional fixed term but with the chance to leave at any time with the accumulated profitability (from 8 to 20% per year), depending on the stablecoin and protocol used.

Goldberg recommends that “it is always good to be diversified so as not to be exposed to constant volatility. Without a doubt it is very smart to have stablecoins performing in some DeFi“.

In fact, using only stable coins does not hedge against US inflation, which is at record levels, above 5% per year, a figure that does not terrify Latin American users, but that any investor takes into account.

However, Abraham assures that institutional investors will have to be attentive, since “There are rumors that Apple is considering trading bitcoins“, which would make the price go up even more; but also to the “regulations that will be launched by China, India and some Eastern European countries.”

It recommends following a Central American country that can serve as a compass to detect when to buy Bitcoin or wait. “I really like what El Salvador is doing, what is forced to have reserves in Bitcoin to support the status of legal tender and buys every time it goes down. Following it doesn’t seem like a bad strategy to me, “he says.

For those who want to diversify with a more aggressive portfolio, suggests putting a few pesos in “Solana, which is the star of the year, going up from u $ s3 to $ s240. Also Polkadot, Terra and Cardano. For these projects the saying is valid: ‘I only invested what you are willing to lose‘”.

For his part, Hinz recommends these moves to seek quick gains only to those who have experience and have outlined a strategy. “If the goal is to generate long-term wealth, it is always preferable to hold, since it is proven that trading, when it is not done well, can offer the same return or even negative performance “, he says.

Cobos, from Bitso, predicts a good near future for bitcoin, since “adoption is greater every day because technology is being developed for people to send money or pay instantly, as with the Lightning Network in El Salvador “.

Definitely, moves like the one Bitcoin is tracking call to action. Experts recommend researching, planning and investing (or not) thoroughly. Only in this way will it be possible to take advantage of this stage in which the crypto market is laying the first bricks in the reconstruction of finances.

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Market in red: what is the price of Bitcoin and Ethereum today, Friday, December 17

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