Eilon Topaz: The digital currency market will continue to develop

According to internet entrepreneur Eilon Topaz, the year 2024 is going to be a record year in the field of cryptocurrencies as the digital currency market continues to develop and break all records.

Eilon Topaz, Internet entrepreneur and businessman, has been active in the field of digital currencies in recent years. In this special review, he published today a forecast for the year 2024 in the field of digital currencies and predicts that these currencies will strengthen and continue to develop.

Following the reviews on news sites in Israel and around the world, Ilon Topaz points out that these very days the trend of Bitcoin’s strengthening is continuing as other currencies are strengthening in its wake.

Bitcoin, which is the first digital currency that started the global digital currency revolution, is leading the digital currency market to break all records.  Every day new records are broken in the value of the general currencies and large entities in the world including countries have begun to allow the use of the new currencies in an extensive manner.

Most of the public in Israel and around the world still do not understand exactly how the digital currency market works, but everyone is aware of the crazy increase in the value of Bitcoin, especially during the last months of 2023 when the price of Bitcoin reached about $40,000.  Eilon Topaz explains that “Bitcoin is known for the sharp fluctuations in its rate” meaning sharp rises and falls.

Ethereum

Another hot currency is the yttrium which has risen by 160% in the last year.  We note that, unlike Bitcoin, the Ethereum currency has additional capabilities to perform complex transactions and it also allows, by using it, to create additional computerized currencies that join the recently developing market. An example of this is that today there are additional computerized currencies that offer different options for different uses, as additional currencies are added every day.

Eilon Topaz points out that “as of today, the majority of the public in the world is still far from using these currencies, while the main beneficiaries of the development of the field are those close to this industry who closely monitor any new information and react accordingly, many hold currencies (mainly Bitcoin) for the long term and believe that the value of the currency will rise in a trend-like manner and over Time. Currently, it seems that this market will continue to develop strongly when each country that is added to the recognition of certain currencies (mainly Bitcoin) will cause sharp increases in the value of the currency and increase its use by the general public.

Topaz summarizes the forecast and suggests: “It is recommended to closely monitor the developing market and it seems that anyone who invests in this market for the long term will make returns of tens and even hundreds of percent.

Bitcoin

is a computerized currency. which was developed in November 2008 by Satoshi Nakamoto (pseudonym) who wrote the first version of Bitcoin. Bitcoin was used for the first time in January 2009. Bitcoin is a completely independent currency that does not depend on a central body.

Ethereum

is a computerized currency. which was launched in 2014 by Vitalik Buterin, a Canadian of Russian descent. The currency enables the creation of smart contracts that enable a variety of options for using digital currencies. The new computerized currency market has huge turnovers every day and is expected to grow as the use of currencies in the world increases.