There are several reasons that have led to the grouchy opinions in the crypto market, but after seeing red, it has become continuously difficult for a lot of us. The value of Bitcoin as well as many other types of cryptocurrencies has continuously on the decline to the levels below expectations, which has caused a significant amount of people to panic.
Exchange of money for goods as well as services has been going on ever since humans existed. However, the only aspect, which has changed is how it is put into practice. All the way from barter exchange to different types of cryptocurrencies, the methods of exchange of money have transformed tremendously through the whole of history of humanity and so we’re currently in the middle of another phase of such change.
Many also feel that the cryptocurrencies are catalyzing the change as the latest revolution in payment. However, those forecasters have been overestimating and getting ahead of themselves. Even though cryptocurrencies will certainly work for new as well as different methods of payment, it is still immature when compared to the actual latest trend.
Payment apps as well as portals is the direction where the immediate future of cash and payment is going towards. It isn’t just convenient but also adds the uses that will arrive from an app that is channeling this current wave.
Consequent to a major convention the previous year, which had exceeded through most notorious bubbles in history, crypto has become involved in what is nearly a $700 billion embarrassment that reveals very few signs of diminish. Most of the worries, which had sparked during the retreat in 2018, which includes increase in regulation, scrutiny, community quarrels have only increased within a week.
First of all, the recent Bitcoin Cash has already been a major point of discussion from the past weeks, while the result into the hash rate war has caused extreme oblivion within the market. Last week, Coinshares’ CSO, Meltem Demirors had claimed that this has resulted in corporate investors withdrawing their money out in order to evade risks and unpredictability.
Some of the investors are also betting big on cryptocurrencies like bitcoin and riding this dangerous wave of crypto investment as long-term business investment
Needless to say, it’s riskier than the conventional form of investments, but then there have also been great success stories of people turning millionaires with their bitcoin holdings in past few years.