Cryptocurrencies are now trading assets for investors rather than being a utility product, which is the reality. As a result, when markets fall, cryptocurrency prices would most certainly fall as well. That is precisely what we are witnessing today.
Cryptocurrencies have emerged as one of the world’s most attractive, yet mystifying, investments. They have skyrocketed in value. Crypto markets have crashed. Their supporters argue that they would revolutionize the globe by displacing established currencies such as the dollar, rupee, and ruble. They are even named after dog memes.
Both crypto coins have increased in value in recent days, as have cases; there is no inverse relationship. Isn’t it almost as though there’s no connection between cryptocurrency pricing and Covid cases?
Google is seriously considering developing a “googly” style product for the market. Why a centralized system like Google would wish to create a decentralized system.
Avoiding new technology and ways of doing business has never delivered favorable outcomes. Cryptocurrency is no exception.
Anyone who owns or is considering purchasing Bitcoin knows that the main cryptocurrency is extremely volatile. However, a detailed review of how wildly and crazily Bitcoin’s price swings—even within the same trading day— shows that it’s the world’s most volatile, risky, and completely unpredictable significant investment category.
People believe Bitcoin will one day be worth more than it is now, which drives up demand for it, and its value, like gold, continues to rise.
In the context of blockchain communities, the ‘concession’ theory is reaching its limits.
Despite the soaring popularity of cryptocurrencies, many are skeptical of the technology, and regulators oppose it. China falls into the latter category.
Financial institutions will have to adopt a completely new approach to information technology- cryptocurrencies will be the solution.