Cryptomarket to Lose Billions in Bitcoin, Ethereum, Ripple
While cryptocurrencies might look like an incredibly tempting investment opportunity at the moment, not everyone is on board. While the absurd volatility of the most valued currency on the market – Bitcoin – does not exactly make it a risk yet, it is a legitimate cause for concern for those who look at the past. Sure, the proponents may argue that it is the future, and looking back will not give us a good idea of what’s to come, but should we neglect the lessons we’ve learned over the years?
If you look at what has happened in the past when it comes to reaching those types of heights, be it tulip bulbs or a bunch of other things over the centuries, the odds are against those who actually think that this is going to be the future.
Stefan Ingves, Governor of Sveriges Riksbank
So, what should we expect if this cryptocurrency loss surge is indeed a bubble?
The prices will most likely fall and become a lot more stable. Current volatility actually works against the cryptocurrency’s main purpose – facilitating access to financial services. If the cost of blockchain transactions can increase tenfold or more in a very short period of time due to the price hikes that become rather common, how can we expect to build a stable foundation for anything? If your Bitcoin is lost, contact to bitcoin customer service Number to help them.
A significant number of currencies will fade away into oblivion, leaving only the most common and stables ones. Bitcoin and ethereum appear to be the two most likely survivors at the moment. There seems to be enough momentum behind those two to keep them afloat even in the grimmest scenarios. Provided the volatility issue is dealt with, these currencies can indeed become a significant part of our financial future, even if traditional banking is not likely to disappear altogether.
Read Our previous blog about Interchangeable tangle and block based-chains System