What Is Cryptocurrency?

A Cryptocurrency can be said to be a digital currency ecrypted to be secure which uses the internet in a cryptography for the process of converting information into uncrackable codes, so as to track every purchases and transfers.

The ever first cryptocurrency to be developed was Bitcoin. Bitcoin however solved the problem of ensuring we have a secured and anonymous transfers that gave rise to a means of acceptable payments.

Intrestingly, we have seen other types of cryptocurrencies (such as Ethereum, Ripples, etc) emerged to solve same problems as Bitcoin and with this makes this type currencies attractive to investors who hope for a better high value with time.

Now for the record, Bitcoin is one popular cryptocurrency many have come to accept because of its high value in recent time.

The Rise & Fall Of Crypto-currencies

Seriously Cryptocurrencies such as Bitcoin and Ethereum made lots of investors to become millionaires especially in 2017 through its rise in value in the market. We will agree at a point 1Bitcoin was $500 and we could see the value of 1 Bitcoin reached more than $15000. Ethereum on the other hand was $10 as of 2016 compared to now where its over $1000 worth. Cryptocurrency was a goldmine for smart investors who took the little opportunity to invest in this currency.

Nevetheless this early 2018 have pose a major frustration to those who are now buying this Cryptocurrencies. The early investors are ones who are still in profits while new investors are now struggling with thier investment because of the current fall more especially with Bitcoin. As of my time writing this article 1Btc is less than $7000 and for investors who bought Bitcoin at its peak of last year of over $15000 will be in a huge loss now. Huh, what a horrible investment i will say for these investors because i Senorita can imagine the level of frustrations and the pain of loosing thier investment.

What Everybody Ought To Know About The Fall Of Cryptocurrency

2018 was the year South Korea announces bans on the use of anonymous bank account to make Cryptocurrency transactions. This move was to stop virtual currencies for money laundering activities and crimes too. South Korea was the third biggest market for bitcoin and you could imagine what this news can do to Cryptocurrencies value. So a platform for Cryptocurrency traders was created to link thier wallet to thier bank account which confirms the identity of the owner.

Secondly, the cryptocurrency market was mostly about speculations and investors who where looking for short term gains. So when the price of cryptocurrencies fell, speculators hurriedly left the market.

Best Time To Buy And Escape From The Cryptocurrency Market?

Be it Bitcoin, Ethereum, Ripples or any other cryptocurrencies, one would see that they have suffered a massive loss this early 2018. Prices have indeed dropped and many are still thinking whether its the best time to invest or escape from the market.

The cryptocurrencies is down by less than 50 percent from its all time value. However, when the market falls more like this, it shows momentum that fall in price is about ending and would present strong opportunities to buy.

Any Hope About The Cryptocurrency Market?

Sipping my coffee this evening, with some refreshing mentality, i believe the Cryptocurrency market could recover, however the problem is the speculations surrounding it in a negative way and the influence which government could try to go against it. Nevetheless some Investors still believe there is much more to reap from this Cryptocurrencies and advanced investors are spreading thier investments to promising cryptocurrencies.

My Conclusion

Its been a great article about the fall of cryptocurrencies and i think the best investors can do is to risk what they could afford to loose. Every financial market comes with its risk and ability to invest wisely is necessary. I believe fundamentals plays a huge role in the Cryptocurrency market and we must equip ourselves with it often. We cant deny the fact that this currencies have made so many millionaires in a short time but now we have also seen decline about this currencies cause huge loss also. Lastly, lets expect rise and fall in every market and plan our entry and exit points.
Thanks readers for your time, my coffee is finished and i might be tempted to get some more. lol Catch you guys another time.