Future of Crypto: Has The Storm Passed?

[Jasmine]

On May 11, Bitcoin plunged to its lowest level since 2020. Coinbase, one of the biggest crypto exchange companies lost its value, even warned the users that the company might go bankrupt. Stable coins that were always pegged at $1 value and were thought to a stable means of exchange collapsed. More than $300 billion was wiped out from the market. Is this something to worry about?

Well, crypto has a future behind the corporate walls, where there is decentralization, self governance, and financial security. Sadly, when crypto went deep down, the people who were hardest hit were the common people who had high hopes and dreams but no financial education.

The sharp fall of the crypto tells us that the value of money is what people actually believe in. Trust in fiat currency is because government guarantees.

Who do you think benefited from this market crash? Well, it is the government that benefited, after it was able to secure its monopoly.

 

[Sotherefore]

A drop in the price of cryptocurrency doesn't really mean that the official Fiat currency is more trusted , the fact is that cryptocurrency was designed to be volatile and the volatility of cryptocurrency makes it even more easier for people to make money because definitely the value of cryptocurrency will depend on the demand and supply at a particular period of time..

And beside when there is a serious drop in the price of cryptocurrencies , I always believe that exchanges are not always affected because their main responsibilities is to display the price of all cryptocurrency in their platform for people who are willing to trade either through buying or selling .

For me instead of me investing in my local currency , i rather invest in the crypto stable currency if I am not interested to invite volatility into my assets. I don't know I somehow Trust cryptocurrency to some extent .

 

[Ithedicious]

A lot of people were able to make a lot of profit during when the price of cryptocurrency was on the high side and now the price of cryptocurrency is completely down . That does not really mean that we shouldn't Trust cryptocurrency, cryptocurrency has been behaving like this ever since it was created and because of this the possibility of it returning back to its original price is still guaranteed.

Personally I don't have any problem with Fiat currency because it is a currency that has been introduced into a particular country by the government , it is very much trusted and secured but at the same time trusting too much in Fiat currency may not be the best most especially when the economy of your country is down.. so many things are to be put into consideration when you are thinking of investing or saving your money in Fiat currency .

 

[Epicnoob]

Every crypto coin is defined by electricity in some way. See it like that. And develop on it.

 

[Mika]

If you pay attention to the market movement, you will see one interesting thing, when one market starts gaining value, another market will also start appreciating, and if one market starts depreciating, another market also starts losing value. For example, when the crypto market started losing value, it was not the only market that started going down, the stock market and housing market also started going down. Bitcoin was once $68K and now it is about $20K, however, you should also become aware that Tesla stock's current price is $284 but once it was valued at $900. The Crypto market has gone down, and so has the real estate market. The point is markets are co-related and move in synchronicity. if you are an investor, there is nothing to worry about the market going down, even when you invested at all-time high price because you can still flex your muscles to buy more.

 

[Lymphography]

This is why we have to keep an eye on everything happening around us. We may not need to dig deep into anything but the overview of every event happening can help us make the right decisions.

 

[Shaf]

The macroeconomic conditions are not good and it's not only the cryptocurrency market that has been affected. Stocks and shares, gold and other commodities have also taken a hit.
For Bitcoin though, looking at previous charts and using the current price action, it has been consolidating. It may be possible that it has bottomed out, but further downtrend can't be overlooked since no one cam really tell the bottom except in hindsight.

The price movement of altcoins also depends a lot on that of Bitcoin, so they can go down even more.

The best thing to do is to start dollar cost averaging now especially into Bitcoin and Ethereum. One can buy other altcoins, but not all of them would survive the bear market and still make it to the next cycle.

Avoiding risky investing like shitcoins, trading shorter timeframes, futures trading without the prerequisite skills would save one money. Preserving capital and accumulating good projects should be key to focus on now.

 

[Abessive]

Too early to say that. Governments and central banks have traditionally been in charge of managing and regulating money. Although much remains to be learned about this evolving technology, cryptocurrency has become a global phenomenon in recent years. Many people are concerned about the technology and its potential to disrupt traditional financial systems.

 

[captainKazoo]

Some experts think that we have almost reached the bottom and the market can recover anytime from now on. Still, it will be difficult to say how long it will take to see a significant rise in the value of crypto currencies.

 

[Protension]

Maybe, we couldn’t be so sure. But experts say that the market will not go any lower and don’t agree that the market is dead. It is still prominent and profitable. Just be patient.

 

[Suba]

If you pay attention to the daily fluctuations of crypto prices, of course you will be worried about the future of crypto. In my opinion, for the short term or the next year the price of crypto hasn't changed much. Take this opportunity or while crypto prices are cheap to collect as much as possible of course you have to buy crypto with idle money. After normal USD interest rates crypto prices will gradually normalize and will occupy Bitcoin prices around $30k. The Bitcoin halving event will occur in 2024 and a year later (2025) will score new ATH.

 

[Shaf]

I realized we may be nearing the end of the bear phase, or at least the period of accumulation for this cycle when crypto OG's started coming out of hibernation to start talking about accumulating coins for the next cycle. The trick is knowing how to find them, or following people who do know how to find it.

This is the phase where the next 10x, 100x and even 1000x coins are found and accumulated by whales, after which they pump and shill it to newbies who serve as liquidity so they can fill their bags.

However the worst is not yet here in my opinion, since a lot of people seem to be waiting for prices lower than $13,000 and whales like to swipe up any liquidity they can find.