Do you really think the Crypto market is no more than a bubble?
People who strongly believed and invested in BTC, ETH and other alt coins just 6 to 7 weeks ago due to the sudden bullish market are now selling out their Crypto investment at half or even less than half of what they had invested just few weeks back. So my question to all those who are selling at lower price and opting for fiat currencies, why is there so much of chaos and panic? Do you really think the Crypto market is no more than a bubble?
If it’s a bubble, then at very first place what made you think so, as just few days ago you all were so crazy about Crypto currencies and were wishing that you would had invested some good amount of money before the market went bullish. I heard people saying when BTC crossed $19,500 mark for the very first time that “I wish I would have invested in BTC when it was below $10,000 or less than that”. So here it is your wish has come true and now BTC is below $6,500, but now the same people are afraid of investing in BTC or other alt coins, why is that so?
Most of us know that there are some reasons why the graph has come down, due to China's and South Korea's government approach towards Crypto world. Indian investors also sold out their Crypto investment at a very low rate, due to a statement by India's Finance Minister Mr. Arun Jaitley during their budget last week. He clearly mentioned “Crypto currency is not legal tender in India but the government will explore block chain to usher in the digital economy”. People in India were confused and thought that the government will ban all Crypto currency and their exchanges. So first let us understand what exactly a legal tender is. Legal tender is so called the fiat currency of that particular country only. For example: US Dollar will be a legal tender only in USA, which means US Dollar will not be legal tender in European and Asian countries. Similarly gold and silver has their stored values, but then too it’s not a legal tender. Same goes with Crypto currencies in India; it’s not a legal tender. That doesn’t mean it’s illegal.
It’s a kind request to all the Crypto investors keep your cool and be patience or else take your money and move out and don’t ever look back to the Crypto world. I am not a financial advisor, but still like to advice people to stay and support Crypto world. Either you choose Fiat or either Crypto currency the choice is yours, as “You are the creator of your own destiny”.
Picture Courtesy :- Google & Coinmarketcap
Cryptos is the FUTURE. not damn banksters...
Thank you for upvoting. Without any shadow of a doubt Cryptos is the FUTURE.
@lightningwhite good one 👍🏼
Yes its true that people started selling out their cryptos due to FUD. Patience is the key. More than just blindly following everyone it is better to trust the blockchain technology.
Keep posting 😊
Let’s hope people will recognize the blockchain technology at right time, or else it will be too late for them to enter the crypto world.
Still people think it's only the value of the currency which is important but that's just one of the application of Crypto. It server many purposes than just the value. Most of the people including governments & banks are missing the whole point of Crypto. ETH is not just a currency but has so many features in-built; where its value is one of its feature or application.
24 hours back people were saying Bitcoin is dead. Practically anything could happen but an innovation of this caliber could just vanish in hrs is crazy.
Hope this space prospers for the good of human-kind than just the value speculations. Cheers!!!
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