Is crypto going down further?

Certainly, the view of cryptocurrencies as a decentralized asset available on a peer-to-peer network with no barriers to entry goes against recent actions, such as the freezing of withdrawals by some platforms. These moves won't go down well with cryptocurrency enthusiasts. In addition, the growing correlation of cryptocurrencies with other asset classes is diminishing their value as a diversification tool, while central banks' growing interest in digital currencies threatens to further erode the attractiveness of cryptocurrencies to their main investors. Since Bitcoin reached an all-time high in November, the value of the world's most popular digital currency has fallen by around 70% and its rivals are also suffering.

Ether is down around 70% this year, as is Dogecoin. Today, Bitcoin and other cryptocurrencies are plummeting, and companies like Coinbase, which manages the largest cryptocurrency exchange in the United States, are reconsidering what might feel more comfortable in the future, such as allocating less to cryptocurrencies in the future or diversifying through cryptocurrency-related stocks and blockchain funds. instead of buying cryptocurrency directly (although you have to expect volatility when cryptocurrency markets fluctuate). The co-founder of the automated cryptocurrency trading platform Coinrule, Oleg Giberstein, believes that cryptocurrencies are suffering the same tensions as other parts of the economy, leading to falling prices.

So why are cryptocurrencies crashing? It is important to remember that in this last cycle, crypto assets are not alone. I don't think it's very realistic to say that cryptocurrencies will simply die, blockchains will disappear, and cryptocurrencies won't exist.

Alexander Osario
Alexander Osario

Total twitter fanatic. Devoted tv trailblazer. Extreme pop culture ninja. Lifelong internet buff. Hardcore sushi expert. Hardcore music buff.

Leave Reply

Your email address will not be published. Required fields are marked *