Challenges of cryptocurrencies to recover in the market.

carlir (67)in CryptoDog • 4 years ago

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Greetings to all the users of this prestigious community, today we will address as a central theme the challenges that cryptocurrencies have ahead in order to recover their value in the market again.

In recent weeks the value of the main cryptocurrencies that exist have suffered significant drops in value, such is the case of Bitcoin and Ethereum which have lost up to 40% of their economic value, these losses were produced first after Elon Musk announced that his company Telsa would stop receiving as a means of payment the BTC, to this is added then the restrictions that China is placing on companies responsible for mining the BTC by placing at risk the economy of that country and the environment.

All this situation that is being generated around cryptocurrencies and especially BTC, make large investors have doubts about whether to invest in it or not, these doubts make the market have a negative impact and the value of cryptocurrencies continue in a downward channel, until confidence in them is restored again and they can recover.

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This fall in cryptocurrency prices has been the most important in recent years, this has been a real unprecedented crash which has set off all the alarms in the financial world of cryptocurrencies. These have been the most difficult hours that cryptocurrencies have had to live, because in the case of BTC, after being at a value of 65 thousand dollars, it reached its lowest value of 32 thousand dollars, a very significant fall due to its value in billions of dollars lost.

But not only BTC suffered this fall in value in the cryptocurrency market, but also Ethereum, Cardano Dogecoin, among others, suffered this negative impact of the market. Given this situation, we can only wait for the outcome of all this, in the end it will depend on situations external to the market such as the case of China and other countries that seek to have control over this market and have not been able to achieve it, due to the level of decentralization that cryptocurrencies have.

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