Between Wednesday and Thursday of last week, Bitcoin lost almost a thousand dollars in its price and this Sunday it was around US $ 6,300 a unit. It is an asset more explosive and capricious than the value of the dollar in Argentina. And more risky. But they are the rules of the game in the field of speculation with cryptocurrencies. Many still cry for those times when Bitcoin was around $ 20,000, its peak in December 2017.
"I do not worry about short-term volatility, Bitcoin has to think about the long term, I think it's going to continue moving in the range of 7,000 to 10,000 for the next 3 to 6 months," Ariel Scaliter explained. Director of the executive program in blockchain, cryptocurrencies and intelligent contracts of the Universidad del CEMA.
The fascinating world of cryptoactives is complex for beginners, but a great opportunity to get out of pesos, safeguard savings from the volatility of the dollar and diversify the investment portfolio. Scaliter said: "The first advice is to read and study, all information is available on the internet."
"Cryptoactives, or the blockchain, is a new model of rules and creation of trust, and the evolution that finance with cryptoactives will have to do with technology," he explained.
Journalist: What is the advice for those who want to start investing in bitcoins or other cryptocurrencies?
Ariel Scaliter: The first advice is to read and study, all the information is available on the internet. If you just start investing in Bitcoins, which is the most liquid cryptoactive and easy to transact. For the rest of the cryptocurrencies it is necessary to study even more, since it is important to understand the project, the technical team and the sustainability of them in the long term.
-What tools do you recommend to buy and sell?
Regardless of the exchanger (gravel, satoshi tango, Binance, bitfinex, etc), it is important that they use tools to protect security and private keys, it is always advisable to keep the bitcoins cold (disconnected from the network), in platforms such as XAPO or in electronic wallets like TREZOR. Personally I use Binance, XAPO for bitcoin and TREZOR as hardware wallet.
-What analysis do you make of the recent jumps and falls of Bitcoin? What scenarios do you foresee?
Short-term volatility does not bother me. With Bitcoin you have to think about the long term. I think it will continue moving in the range of 7,000 to 10,000 the next 3 to 6 months.
- At the global level, in what state of evolution are finances going with cryptoactives?
For the generation of millennials, in the United States, South Korea, Brazil and many other countries it appears as a much more popular saving option than bonds or shares, and this also has to do with the fact that there is a huge distrust of institutions and way they handle the rules of the economy in general. Cryptoactives, or blockchain, is a new model of rules and creation of trust. The evolution that finance with cryptoactives will have to do with technology and new business models that can be created from it. I believe that the evolution of models based on smart contracts in areas such as real estate, health, loans, agriculture, etc. it will exponentially increase the use of cryptoactives in the next 2 to 3 years.
What advantages can cryptoactives bring to the economy in the coming years?
Transparency, reduction of transaction costs, financial inclusion and new business models based on intelligent contracts.
How do you see the growth of the adoption of cryptocurrencies as digital payment assets?
They see it as a process that has no turning back, the technological advances linked to the light wallets, will bring fast, safe and cheap payment applications.