Americans are becoming increasingly bullish on cryptocurrency as bitcoin soars to new records
Authors of articles on cryptocurrencies pen articles as if there is only one cryptocurrency that is important enough to talk about and the rest of the cryptocurrencies are not worth any mention. This is a serious misrepresentation of real facts and is simply poor journalism.
Another aspect of the cryptocurrency that is repeated ad nauseum is that cryptocurrencies are highly volatile assets and therefore are not suitable for business transactions or investments. They fail to mention the existence of stablecoins to which merchants can instantly convert the cryptocurrencies they accept for the transactions and thereby avoid the volatility risk inherent in accepting cryptocurrencies. It must also be remembered that for experienced traders volatility presents both risk of loss and gain. The higher the volatility the higher the risk of loss and gain. Experienced traders understand this and ride the wave accordingly.
IMHO, the high volatility in cryptocurrencies is caused by uncertainly surrounding cryptocurrencies as long-term investments because of the conflicting news that are constantly being published. This makes most people wanting to take profit at the earliest opportunity. Besides the crypto market itself is still small compared to the other markets given the limited number of investors in it. To compound the problem a smaller number of these small group of investors hold a large portion of the investments. Any large movements of crypto from this smaller group create large price swings. Volatility in the market will disappear the moment the adoption rate goes up and there is less uncertainly about the legality of cryptocurrencies. .
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