Since early 2018, Bitcoin has plummeted. But market sentiment cannot influence the potential of cryptocurrencies to change the world. The crypto economy has plummeted from a peak of around $800 billion at the end of 2017, to around $200 billion, which is the party over. But try to stay calm and do not panic if Bitcoin crash.
For a scam ICO (initial coin offering) looking to cash out during the irrational boom of 2017, the party is definitely over, and few people are ready for this opportunity. That is cryptocurrencies can occur unpredictable events.
No, far from it. Will cryptocurrencies get stronger?
Cryptocurrency Comeback Stronger?
When serious people start sifting through lanes, opportunities start to frantically raise funds. Of course, there are some serious players who want to enter the game early, a good time for them to raise funds.
But for many cryptocurrency beginners, this is not the case, it is luck. Many people have raised hundreds of millions of dollars through crypto pledges to promote innovation and will work hard to keep their promises.
But I insist that with the exception of Bitcoin, Ethereum, and some ICOs, there are hardly any inventors in the entire crypto boom. The rest are opportunists. The inventor will not magically appear in the bubble. Those who breed in foam are surfers on the waves. Some of them can eventually create value, but most don’t.
What’s wrong with the crypto market now? Since the beginning of 2018, the leading cryptocurrency Bitcoin or BTC is closely related to all other cryptocurrencies in price and has fallen sharply. Retail cryptocurrency investors are feeling in a bad state right now.
Will Bitcoin Crash Soon?
Another reason for the decline is the continued attacks on BTC by institutional participants and everyone who has their sovereign right to print money is threatened by BTC.
Ironically, the success of Ethereum put pressure on its price. Over 90% of the roughly 1,000 ICOs launched in 2017 were on Ethereum. They must then sell Ether to meet their cash flow and funding needs. The more Ether a player like EOS (Ethereum rivals) dumps in the market, the more the Ether price will fall.
Despite the high volatility, no one misses out on the potential of cryptocurrencies, especially all the large institutional participants. The disadvantages that we often see in all other industries, especially the high-tech industry, are an unknown phenomenon in the banking industry.
The last known inventions in the banking industry were ATMs and plastic cards—until do not panic over the bitcoin crash appeared. All other innovations are incremental, not human leaps. Encryption is that leap. Trends cannot change.
While financial institutions consistently attack encryption as a fad or fraud, they also take defensive measures to strengthen defences against novice attackers. The attack surface has expand due to encryption, and now the barrier to entry is very low, and we are reducing the barrier even more.
This is the main promise of Bitcoin founder Satoshi Nakamoto. Bitcoin or encryption is not just a strong substitute, whether it is a currency or a financial system. It’s about transforming established new strengths, opportunities, and wealth creation systems.
Is the Bitcoin Ecosystem Working Properly?
With the development of infrastructure and ecosystems, more and more products (such as futures, derivatives) are now available for use by complex market manipulators. The fact is that only 21 million Bitcoins will remain in circulation.
Bitcoin has become the most robust and reliable default alternative to any sovereign legal tender in the world. There are more millionaires in the world than those who own many companies buy Bitcoin. So they have an anti-inflation system.
Even gold and diamonds do not have strict supply limits, because new mines can always be found. You can print as many dollars as you like. However, this is not the case with Bitcoin. Therefore, despite the short-term fluctuations, the long-term trend of Bitcoin and cryptocurrencies is up and down. Manipulators try to intimidate stupid newbies into panic selling so they can get cheaper prices.
Crypto’s tensile strength is currently being tested. Bitcoin has proven its resilience and will rebound even stronger. Why? Because it is designed to be “anti-brittle”. Now, when the next financial crisis hits the world, cryptocurrencies will be a safe betting solution and a tool to hedge against crises, not a catalyst for crises.
This discovery will not be stopped by do not panic over the bitcoin crash, Ethereum, and blockchain applications. We must prepare for large-scale upgrades. There will definitely be Apple and Google cryptocurrency in the economy.
If you are a speculator in short term trading, cryptocurrency profits. You’re probably going to yawn right now. But the encryption will never be lost.
Therefore, don’t think of encryption as a trading asset class, but think of them as an inevitable technological upgrade for the entire world economy. Crypto prices and market sentiment have nothing to do with crypto’s potential to change the world.