NFT bubble has burst. What happens to Bitcoin and Altcoins now?

Burst of NFT Bubble

Cryptocurrencies are “disintegrating, and there is not much time left.” Some people say that there is a sense of gloat in the words. They are referring to the two recent sharp declines in the price chart, namely: NFT Qualitative tokens) and Bitcoin. Some critics of crypto assets not only condemned the NFT as a “scam” but also targeted the entire cryptocurrency market. But people familiar with the matter disagree with the accusation. As a popular exchange that provides cryptocurrency trading and holding services and has both mobile and web platforms, StormGain recommends that traders who are interested in cryptocurrencies keep their original intentions and continue to be positive about the crypto market.

As of the time of writing (the second week of June), NFT’s weekly sales reached $9.5 million. In early May, the NFT market peaked, and on May 3rd, NFT tokens worth $102 million were sold. Everyone seems to be eager to turn any piece of “internet ephemera”-emoticons, short videos, posts, etc.-into NFT “art”, and then make a lot of money. Fast forward to the last week of May, but the situation has taken a turn for the worse. According to data from Nonfungible.com, NFT sales are only 19.4 million U.S. dollars, a 90% decrease from the peak sales of 170 million U.S. dollars. After entering June, the downward trend has continued, but the decline has stabilized.

The collapse of the NFT coincided with the sharp drop in Bitcoin. The cryptocurrency “Big Brother” has been in a bear market deadlock since mid-May, and the current currency value is 36,000 U.S. dollars. In any case, Bitcoin as a whole has always been a “barometer” of the public’s overall confidence in the cryptocurrency market. Although Bitcoin has been hit, tokens, that is, almost all other cryptocurrencies except Bitcoin (from well-known cryptocurrencies such as Ethereum and Ripple to new market darlings such as Dogecoin, Cardano, and Pancakeswap) In recent weeks, the performance of cryptocurrency exchanges has been remarkable and the development has been rapid. The price of Bitcoin has maintained a high level even during the decline period (don’t forget, in March 2020, the price of Bitcoin was only $6,000), and the price of Bitcoin has increased significantly compared to the 2010s. In contrast, although NFT itself is not a brand-new product, it only took about 4 months to form a bubble in the public consciousness, which is difficult to compare with the size of Bitcoin. In short, although potential cryptocurrency art collectors may be “gritting their teeth” right now, for cryptocurrency traders, there is absolutely nothing to worry about. Moreover, this is actually an excellent opportunity.

Alex Althausen, CEO of StormGain, said: “This round of price drops is not so much a crisis of confidence as it is more of a correction that is beneficial to the cryptocurrency industry. The cryptocurrency market is thriving, evolving, and becoming It is more beneficial than ever, and such development may undoubtedly lead to an inflated hype cycle, speculation, etc. However, in the long run, holding and trading digital assets is still an excellent way to accumulate wealth. The key is to Cryptocurrency is regarded as a system with a broader dimension: expand the investment range, make the investment portfolio resilient and resilient, and will not be dragged down by the rise and fall. We must make these assets serve you. Therefore, we have been focusing on expanding two businesses: The first is to enable customers to truly realize diversified asset products; the second is to establish a complete knowledge base to help the public understand the behavior of the crypto market.”

Althausen also introduced a key difference between actual cryptocurrency and NFT. The digital trading tools on StormGain are all applied in real-world technical fields and are not affected by the volatile art and collection market trends. As blockchain becomes more and more an indispensable normal in the financial world, cryptocurrency will not disappear. If NFT is a product similar to a trading card, Bitcoin and other cryptocurrencies are more like crude oil, stocks or gold-they play a more important role in the economy.

Just like stocks and gold, market trading is a game that requires long-term and short-term strategies. The same is true for digital gold: if you want to play the “long-term game”, it will help you to understand the nature of the market as thoroughly as possible. To this end, we invite you to participate in in-depth research, please remember to build a diversified trading portfolio! StormGain’s teaching resources provide rich content for trading “novices” and senior “veterans”, and are an excellent starting point for traders of different levels. The platform provides a large number of optional trading assets for all users who want to try digital product transactions, including encrypted index products with high-risk control coefficients. You can try StormGain ‘s free demo account, practice trading under real market conditions, and personally test the practicability of the training materials.

The current price reduction of cryptocurrency provides the market with a long-term opportunity to accumulate wealth. As for the artwork NFT, we can only say, how can we price “beauty”?

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A guide to the all-encompassing cryptocurrency platform

The cryptocurrency broker application StormGain was founded in 2019. Initially, we caused a great sensation in the market with our extremely low commission rates and high leverage. But in the past year, StormGain has continued to expand and become an all-in-one cryptocurrency trading platform: We have launched a series of new features that make the platform more than a simple cryptocurrency exchange but to help users more effectively To manage its digital assets. These include e-wallets, teaching materials, and even built-in mining tools.

If you are looking for a one-stop-shop for cryptocurrency, StormGain must be your best choice. But how to make the most of this powerful multifunctional platform? In this guide, we will introduce you one by one, how to get the most benefit in StormGain.

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1. Just a few seconds, easy to register

Fast user registration is a major feature of StormGain. It only takes a few seconds to complete the registration easily. Just download and open the app from the Apple Store or Play Market, or enter your email address on StormGain.com and create a password. Then you can start trading immediately. You can directly deposit funds and open positions so that you can seize market opportunities as soon as possible.

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2. Learn trading skills

At first, StormGain is equipped with a powerful knowledge database to provide new users with all the knowledge and trading skills related to cryptocurrency. Thanks to this, the platform “stands out from the crowd” and becomes a pioneer in the industry. Today, this knowledge base continues to expand and expand, becoming one of the strongest features of the StormGain platform. The articles and seminars on our website cover: how to use the platform, market analysis, individual currency, and overall cryptocurrency market analysis. Even experienced traders can learn some more advanced trading strategies. For novices, StormGain’s teaching content will definitely be an excellent “teacher”.

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3. Mine free bitcoins

One of the special selling points of StormGain is the integration of Bitcoin cloud miner services. All users can use it for free and get free bitcoins. Customers only need to manually activate the mining tool once every four hours. The first thing after registration is to activate the miner tools to make the most of the time on the platform. The StormGain cloud miner service does not use any device resources or your network but is just an incentive for you to keep the platform active. Bitcoin is very valuable, so every user should take advantage of this feature. The bitcoins you mine can be traded on the platform, that is to say, although you can’t directly withdraw cash from the platform, you can use it for trading profit.

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4. Start trading

After you successfully register, complete market research, and activate mining tools, you can start actual trading. Buying cryptocurrency is very simple, just select the cryptocurrency you want to buy, and make a deposit through supported methods. StormGain provides bank card or online payment services to make purchase operations easier. Payment operations are handled by reliable partners such as Simplex, Bits of Gold, and Koinal.

Be sure to check the chart trends and the long/short-term dynamics of cryptocurrencies. The chart of StormGain can adjust the time period and display mode. The application will also display trading signals, indicators, and order records, so you can have an overall understanding of the market.

Trading signals are an important part of any trading application today. Not only can it inform you of market trends and good profit opportunities, but it can also be used to manage risks. If the price reaches a certain loss threshold, it will automatically stop trading. StormGain’s trading signals are especially useful. When using the platform, the signal will provide recommended stop loss (closing at a loss of X) and profit (closing at a profit of X) parameters, which users can adjust, including default values. You can also use increase and automatic increase instructions to increase the investment amount when the market trend is favorable for opening a position. Trading signals will show profitability and probability (technical analysis based on the possibility of currency pairs reaching favorable market positions), which are indispensable for newbies who are familiar with the cryptocurrency market and experienced traders who want to trade more efficiently Excellent tool.

When using the web platform or application, you can set advanced trading instructions, such as stop-loss, profit and analysis tools. Even if you are using a mobile device, there are quite a few functions. Everything you need is at your fingertips.

StormGain provides ultra-diversified cryptocurrency categories. Bitcoin, Ethereum, Litecoin, Ripple and other hot currencies can be traded. Not only that, StormGain can also trade various altcoins, including: Dogecoin (DOGE), PancakeSwap (CAKE), Stellar Lumens (XLM) )Wait. Don’t miss the opportunity for altcoins-entering the next positive trend as early as possible may be the most economical way to make a windfall in the cryptocurrency market.

A single cryptocurrency pair does not necessarily ensure profitability. Diversification of investment portfolios and reasonable risk management are essential. Please learn about crypto indices: These indices bundle various digital assets together to hedge against the volatility of any single currency. In addition, there are tokenized stocks and commodities. You can invest in stocks of technology companies such as gold, silver, Tesla, and Apple with cryptocurrencies.

StormGain also introduced an innovative profit sharing model. Unlike other platforms that require a fee for every transaction, StormGain only charges a small fee for profitable transactions. Compared with the ordinary fee model, this model is more fair: when losses are encountered, the fee is often worse and frustrating.

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5. Plan the upgrade progress and become a high-level user

The StormGain platform also has an interesting diversified trading rule. You can upgrade your account like playing a video game. The greater the transaction volume, the higher the level. This “loyalty program” can bring you various rewards, including additional transaction funds.

Each level up will increase the mining speed of Bitcoin cloud miners, up to 0.03 BTC / day. If you are confident about cryptocurrency trading, don’t miss StormGain’s “loyalty program” level. Learn how to upgrade and take your profit conversion to a whole new level.

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6. Pay close attention to news

Since StormGain was founded, it has always had the tradition of holding “Gifts” and “Grand Prize Competition”. It is particularly worth mentioning that in early 2021, when Bitcoin reached an all-time high, we gave out a free Bitcoin in a lottery draw. Fans must pay close attention to platform activities. We often give out super gifts such as signed footballs and signed jerseys. In addition, special gifts such as VIP stadium parade and home stadium tickets will certainly be re-sent. Whether you care about football, cryptocurrency, or want to win cash gifts, please pay close attention to StormGain’s news blog for the latest news.

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Invite Friends Program

Once you are familiar with StormGain, you can decide whether to invest in the long term. If the answer is yes, then don’t miss our other important feature-“Invite Friends Program”. Recommend the platform to friends and relatives, and you will get rewards.

Go to the “invite friends” program of your account and you will get your exclusive referral link, and you will be able to share it directly with your friends. If they use your referral link to register, you will receive a 15% dividend of their StormGain Bitcoin mining rewards. An unlimited number of friends can be invited! No time limit! Therefore, if you are satisfied with StormGain, don’t hesitate to share! A lot of recommendations, full of profits!

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