Cryptocurrency: Let’s Buy Some More Then Shoot Up?
Cryptocurrency: Lets Buy Some More Then Shoot Up?
Cryptocurrency From the Eyes of Finance:
Cryptocurrency has long been tumbling down a steep hill. It’s only recently that the big corporations and the finance sector have begun opening up to cryptocurrencies.
This comes with good reason, crypto started as a utopian idea- a decentralised community built without a need for banks or middle man. It has slowly evolved into a different form.
Libertarian and anarchistic values are deeply enshrined in many early Bitcoiners. They saw that an anonnymous and decentralised currency was desirable. No middle men, a tough to tax system and truly international. This chimera is a synthesis of today’s capitalism and the people’s desire for greater individual freedoms.
This arguably irritated and scared off much of the financial sector from a) investing or b) talking about Bitcoin It was seen as a competitor.
It truly is, a dark horse in a world long run by groups of bankers and investors. Being somewhat antithetical to fiat currency, it’s still seen by many as something to be destroyed. The hope however, is that it will implode.
Cool. So How is it as an Investment?
From an economists eyes, an unregulated and unstable currency is the worst possible bet. It’s uncertain, manipulatable and tied to nothing that guarantees a value- Cryptocurrency could go from current price to zero in a moment without any impediments.
It was for a long while believed for example that Bitcoin would never reach below the 6 k resistance. The reasoning went that the price needed to mine a single coin was 6 k and for it to stay profitable the supports would have to hold up.
It did of course drop below months after Financial Futures and other industry had got a slice of the lie. The amount of delusion is high in the Cryptocurrency sector, and financial investors love taking advantage of the psychology of rookie investors. However, there is some positives to balance this negative view.
Cryptocurrency Will be Safer than Fiat in Economic Crisis
When recent economic downturns and crisis in nations begun to destabilise their economies, a pattern emerged. People begun to turn to digital, international currencies such as Bitcoin to protect their capital against inflation.
Whilst it didn’t directly help with say, buying and selling of commodities in these nations (two recent examples are Zimbabwe and Venezuela) it did show that despite the fact, people were willing to put their hard earned savings in Cryptocurrency, and trade goods for them over inflated fiat.
Did Banking Really Come in So Late?
It may also be folly to believe that the banking sector invested so late. Many whales were active on the scene before the second boom in late 2017. It’s plausible that many of these were big banking corporations interested in Cryptocurrency.
From 2011-2013 the Silk Road was a bustling deep web market place for all sorts of untraceable mischief such as buying weed, or a set of skeleton keys.The founder Ross Ulbricht had one of the fullest wallets in the Crypto sphere. It was promptly seized by the Federal Reserve of the USA who are thought to have one of the largest Bitcoin wallets around.
Several electronic currency payment systems trailed before Bitcoin had failed due to reliance on institutional and governmental structures, but not Bitcoin. For that reason, this longevity and the fact that many large institutions own and have a lot of stake in Bitcoin leads me to believe that it will slowly be incorporated into day to day life.
Is it Worth Investing Today? Absolutely!
Public adoption has yet to come, and whilst some coins like Bitcoin and other top 10 companies are very bought up and excessively high, there is a lot of room for punting.
Initial Coin Offering’s or ICO’s have been reporting tremendous gains in this financial year. Whilst conversely, direct investment into crypto companies with released tech has been decreasing.
This indicates that whilst the markets don’t find the old tech worth getting excited about, the prospect of new generation projects mooning are still fuel enough for their fresh institutional investor veins.
So we say, go find some new build rockets and start pumping it with fuel, if you ask us. Record lows are the best times to stock up on Cryptocurrency. There’s a lot of new and undervalued projects, as well as exchange tokens that are on sale right now. Load up your bags Cryptoclubbers!
If you’re keen on investing into Cryptocurrency check out our article on investing in the cryptocurrency market whilst minimising entry risk.