‘Is this the end time for cryptocurrencies’, I’m sure this has been the question running in the minds of almost all cryptocurrency investors as well as fanatics whenever there is a bearish market. Cryptocurrencies seem to have hit rock bottom now, as the market and value of coins seems to be always gaining a little and loosing much.
This situation isn’t something new in the cryptocurrency world, as many setbacks have been experienced over the years, with subsequent pull-ups, which saw the value of coins rise considerably. This current, however, looks like that’s it for cryptocurrencies. Coins have hit historic lows, coupled with a constant decline in the total market cap.
A lot of factors come into play as to why the current market is tumbling down to the ground, with more of them attributed to the clamping down of crypto with strict regulations and bans but in all, cryptos were expected and projected to overpower them as they have been since their breakthrough.
This seems to be far from the case, as the possibility of the crypto market collapsing is getting clearer and clearer with each day passing by. Die-hard crypto fanatics these past few months would even contemplate the thought of cryptos really vanishing.
The big guys who normally save the day aren’t doing that well either as most of them have been declining and taking the much smaller ones along for a ride. Ethereum has seen its market share fall for the most part of this year, while Bitcoin Cash and Ripple are also suffering the same fate and even worse. Bitcoin, however, is the only coin fit enough to be making waves and regardless of that, it has even lost almost 70% of its value coming from last year.
Despite the crypto market having a meltdown, other aspects of it are however booming, talking of new technological innovations, business, and creation of new altcoins. As usual, many crypto fanatics see this as just a trend or a phase which has happened before and would soon pass and therefore are sticking to their usual routine of trading and investing in cryptocurrencies.
One quality of crypto investors is being optimistic. But during these troubling times, one must wonder if the future of cryptocurrencies is really as safe as it is portrayed to be. Taking into accounts, projects and the rate at which investors are coming on board, one can boldly predict the future of cryptocurrencies to be secured but then again, the possibility of investors experiencing a shock in the market shouldn’t be overlooked.