With the onset of the winter calendar in the cryptocurrency industry, it is their cold season. «Crypto-» winter came gradually, and it turns out that this phenomenon is to blame. The cryptocurrency course, despite the many positive predictions of the experts, as and street the thermometer began to show a downward trend. Who made price reduction of digital assets and how to survive minus figures?
For fever, which is now the whole cryptocurrency industry, responsible users themselves and those who see in bitcoin and other coins are just a way to earn. About this in his column columnists wrote expert Coindesk Michael Casey. He told a story about his friend who «at every step of handing out coins to anybody» and thus promoted the cryptocurrency. The problem lies in the fact that comrade Casey talked about digital money as a way to get rich, not to make smooth and fast transactions.
«Everything was good, but my friend boasted that crypto-asset in its dollar terms had previously cost much less than now. He said: “You can be rich like me.” Such statements establish a more speculative behavior. And my friend didn’t mention about the main thing that bitcoin has the potential for making smooth payments between users and financial institutions on favorable terms,» writes Casey.
Mania earnings, according to the expert, created imaginary crypto-enthusiasts who contributed to the revival of blind faith called «earn cryptocurrency».
«Remember, there was a time when the leaders of the iced tea manufacturer has demonstrated that it is possible to obtain a wonderful increase in the stock price simply by adding the word «blockchain» in the name of the company,» says Casey.
For example, a new York firm for the production of drinks Long Island Iced Tea in 2017 renamed to Long Blockchain Corporation. Despite the fact that the company did not have any relation to cryptocurrency and blockchain technology, the wave of hype their stock soared nearly 500%. As a result, the manufacturer is interested in SEC and begin your investigation.
Now that the bubble has burst, it is time to get rid of incorrect opinions about the cryptocurrency, after all, go on a new stage of development, I’m sure the columnist Coindesk. Also, you need to stop and consider that cryptocurrency for the rich.
«I’m still confident that this technology was created as a tool for people. So the blockchain can be a successful technology with widespread adaptation. I don’t care how it happens — whether it’s widespread use in the retail trade or the use of a firewall public architectural blocks to create a new, decentralized economy — the goal should be to have a positive impact on life everywhere,» says Casey.
The unequivocal answer, as the exact forecast of the cryptocurrency course in the near future, no. Frustrated users in the value of a currency expressed in different forms.
Negative attitude to bitcoin has emerged in the beginning of 2018, when they began to receive informational messages about what the next project with ICO collected the necessary sum for development and after not implemented their ideas.
And then, when the rate of most digital assets began to fall, some members of the crypto community began to convert its investment in Fiat. In schemes Panov and dumps were disappointed not only individual investors with small investments, but also a well-known business angels.
So, in early November, a significant private venture investor, which provided financial and expert support of projects of Yan ning, published a post on WeChat (later the text was removed), where he declared his withdrawal from the Chinese crypto sector.
«I am very pleased to leave tryptomer, which is filled with liars and players. I was going to go quietly, but that did not happen, because I had to go against the whole community. I deleted all chats and contacts from cryptomeria because he had lost confidence in the concept of decentralized blockchain. It can grow only in the centralised structure of the laws. The last time I comment on his decision,» said ning, who in January 2018 launched its project Commerce Data Connection.
The company Commerce Data Connection was reported as the first decentralized platform with free access for all users with the token to the CDC. Coin salistie exchange Huobi, but five months later led the CDC for violations of the rules of the marketplace. After that, Yan ning gave an interview and talked about that incident to blame the «bad actors» without explaining the term. Now the angel investor refuses to associate itself with the crypto industry, where there is only one «liars and players.»
Most digital assets show decline. In particular, bitcoin, which cost 5 Dec 2017, more than $11,000 at the time of writing is trading around $4000. The decline of bitcoin over the span of 12 months amounted to around 67%. However, other coins are less noticeable during the high value of bitcoin, show a positive trend. Founder of Digital Currency Group is Barry Silbert believes that the market decline is a great opportunity to purchase a new crypto-assets. He bought ETC, ZEC, MANA and ZEN.
In the green corridor is Binance Coin (BNB). An increase of 20% probably happened due to the fact that the exchange Binance, which owns the token BNB announced the imminent launch of its blockchain and decentralized trading platforms. In addition, the founder of shopping site Chanpen Zhao after dinner, one of the founders of CoinMarketCap got a tattoo with the logo of Binance. It inspired traders, which increased the cost of BNB.
Another coin showed an increase, is Waves — plus 30% on 5 December. But these figures are not maximum, because FREE Coin, for example, soared by 240%. A coin Factom soared almost 40% after the listing on Coincheck. The inclusion of new digital assets, analysts say, on the background of the drop of bitcoin will strengthen the company Panov multiple altcoins.
As repeatedly stated by professional traders, you need to be able to benefit with falling, with a growing market. You need to know the basics of trading on cryptocurrency exchanges.
In addition, it is important to ignore the negativity that is currently present in the cryptocurrency industry, and to focus not on the value of the coins on the blockchain technology. For example, Ethereum co-founder Joseph Lubin stated that the value of cryptocurrency does not reflect the value of the blockchain.
«The blockchain is much more than the modern market. Capitalization does not reflect the real value of the cryptocurrency platform. In Ethereum was 48 million unique addresses and is running 12,000 new node. A decentralized network is growing rapidly,» says Lubin.