The massive attention on the rise of Bitcoin in the recent years created much chaos and desire by global investors who wish to protect themselves from their own currencies potentially depreciating in value. Created as a transactional medium in the form of digital currency, Bitcoin transactions are meant to improve convenience and efficiency. Payments are processed using Bitcoin that includes charity, gifts, food services and even wages especially in countries where domestic currencies had failed. Due to the anonymous nature of cryptocurrencies, Bitcoin is adopted in purchases of illicit goods, also inevitably contributing to the rise of ransomware.
Individuals who are nervous about money backed by a central bank from an uncertain monetary policy have been largely attracted to Bitcoin. Built on blockchain technology, it is less influenced by the state of economy or geopolitical risk.
“A bubble is an economic cycle characterised by the rapid escalation of asset prices followed by a contraction. It is created by a surge in asset prices unwarranted by the fundamentals of the asset and driven by exuberant market behavior. When no more investors are willing to buy at the elevated price, a massive sell-off occurs, causing the bubble to deflate.”- Investopedia
Could it be a potential catastrophe?
Many question the capabilities of Bitcoin. After all, Bitcoin is not really a universal legal tender like a Euro or Dollar. You can’t buy something as common as a cup of coffee anywhere with it. To many observers, Bitcoin consists of all the classic signs of a rapidly inflating bubble that will inevitably burst eventually while some view it completely as a new rising economic model that will bring conveniences and win-win situations for all users.
Since the hype and sudden surge in its value, Bitcoin has attracted many late players into the market. The idea of gaining fast cash sounded appealing. However, the possible crash of the crypto bubble and incidents of hackers and unscrupulous scams are worrying concerns.
Spiking: Invest with a peace of mind
As a university student, investment ideas appeal to me as I lack the time to engage in side jobs for extra cash. Coupled with my interest in cryptocurrency, I find the recent launch of Spiking really relevant. Currently, I feel a little frustrated and lost as I lack the knowledge to trade and hence unable to make informed decisions.
Consisting of a team of digital natives passionate about the stock markets, Spiking is a fintech trading app which is dedicated to assist amateurs. By following the big players (known as whales) as they buy and sell on the market, I am positive that this is a helpful platform for individuals like myself in making better investments with our savings.
Providing verified, real-time updates, followers are able to mirror the whales movements upon an in-app notification. Such features provide us with more insights and certainty when we invest, allowing us to make more rational financial decisions with verified data.
The current proposed fee model on Spiking is to reward a whale with 21% commission fee from profits generated directly by its follower’s initial capital. The follower will receive 71% of the profits, including the return of initial capital while the remaining 8% profits will be channeled into Spiking as a usage fee for the platform. This greatly encourages the whales to make calculated steps in their trades, and allowing the followers to maximise their earnings.
by Priscilla Chen, Crypto Intern
Drawing from its successful and rich experience in the stock market since 2016, Spiking is expanding to cryptocurrency trading! With its unique and powerful trading tool and its AI robot Robobull, Spiking enables traders to easily find whales and mirror the trades automatically. At Spiking, we strive to help traders make better decisions and take the steps toward fulfilling their dreams of achieving financial freedom. Check out Spiking App, Top Grossing Finance App at App Store & Google Play.
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