Krasnodar, 11 August – Yug Times. The record-breaking hot summer of 2023 is taking place against the backdrop of the ‘crypto-spring’ which illustrates the increasing rate of return growth and interest of systemic and global investors in crypto-assets. The crypto-market is still developing and attracting new participants – not without fraudulent schemes, but in general, the institutional trading rules and conditions for all participants are improving in that market.

In 2022, bitcoin has proven to be more stable than the stocks of many hi-tech giants. Bitcoin has been a pioneer in the industry with a limited number of coins, equal to 21 million. The first mover’s advantage and steady longterm growth due to the limited supply has made its coin the most recognisable in the world.

“In recent years, there has been a growing interest of institutional investors in crypto-currencies,” says Sergei Vinogradov, TradersGroup trader and manager. “As far as the crypto-market is very volatile, what these investors favour is the well-known and well-deserved bitcoin. Against this background, it really acquires the features of the underlying main asset of crypto-currencies, and becomes more recognised as repository of values rather than just a speculative tool.”

Law enforcement agencies are the only ones who are actively involved in the fight against fraudsters in the crypto-market. However, they are often one step behind the fraudsters, and technical limitations hamper their effectiveness in combating cybercrimes in this area. Deception schemes appear regularly, and information about them is most often spread by conscientious bloggers and professional communities of crypto-traders. One popular scheme is inflating the value of an unpromising coin, where its price depends solely on the entry of new participants. The coin is then guaranteed to lose up to 100% in value after attracting the new buyers. As a result of such schemes, the original investors may forever be left with unusable assets, while the scammers would disappear with the dishonestly earned money.

“There is one more hidden threat that awaits novice investors in the crypto-market. It is related to the dependence on their ability to predict and analyse the state of the market and crypto-tools,” says Yevgeni Kozlov, an investor in the crypto-market. “A significant part of traders today are highly dependent on the opinions of the so-called experts, opinion leaders, and other members of the professional community. At a first glance, this may simplify the decision-making process, but in reality it deprives the traders of independent analysis and understanding of the internal processes that should lie at the root of investment decisions.”

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