Is cryptocurrency dead?
In the past days, weve seen the crypto market is going down and down. Things are not pretty good for market and it looks scary for newcomers. Many investors ask, are we in bullish market or in bearish market? A bullish market is a market that prices are going up and up and a bearish market is a market that prices are going down and down. In my humble opinion, we are in bearish market and its obvious. Cryptocurrency is the future of payment and its an ever-flourishing technology. One bad news that affected the market was Warren Buffet and Bill Gates negative statements about crypto market. They showed in live TV programs and they made these comments. I believe they cant have a big effect on the market but this reason is among some other reasons.
Another news was on May 11th and it said, the Koreas biggest exchange Upbit got raided by the police. At that day market crashed in a huge amount. A lot of Korean investors made sale positions and later it came out that the news was totally fake, but the market didnt care and it kept going down.
It is one of the hardest lessons, (( Market doesnt care and it has its own mind.)) Another reason is people who invest in crypto market, they are mostly amateurs and weak investors and whenever they hear some pieces of bad news, they start panic selling. The only way to lose in this market is when you sell in loss. Its the only way and patience is the key to be successful in this market.
A lot of companies are adopting blockchain and interested in it. Then it has a bright future. Google, Microsoft, Amazon etc, all of them are major companies who have expressed their interest in blockchain and cryptocurrency.
Now, Im looking at the market and I see its crashing, but Im not scared. I see it as an opportunity to buy whatever altcoin you want. Then the answer to the question, Is cryptocurrency dead? No, I dont think so.
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