- 07.03.2020

Cryptocurrency collapse 2020

cryptocurrency collapse 2020Most cryptos have been bouncing up and down lately, with bitcoin falling below the Raoul Pal (@RaoulGMI) September 7, Bitcoin Dropped Below $10K, 3 Reasons Bitcoin and Crypto Market Will Crash Again. Kun Hu Sep 08, 3 Min Read.

The first cryptocurrency, bitcoin, was born out of the fire of the banking crisis, with its mysterious creator Satoshi Nakamoto clear about his cryptocurrency collapse 2020 to replace the monetary system ruled by central banks.

Cryptocurrency collapse 2020

Bitcoin, designed cryptocurrency collapse 2020 a peer-to-peer cryptocurrency collapse 2020 network, cryptocurrency collapse 2020 designated as a new kind cryptocurrency collapse 2020 money.

This narrative has held strong even through the last few weeks, when the Covid threat began to loom over markets.

Cryptocurrency collapse 2020

Take the following tweet from bitcoin magnate Tyler Winklevoss: There was just one problem with these theories about bitcoin as a safe harbor — until today, bitcoin cryptocurrency collapse 2020 had never lived through a significant crash or recession in the wider economy. That has changed.

If the theories about bitcoin as an uncorrelated asset were true, we should have seen shareholders fleeing with their money to cryptocurrency collapse 2020 and cryptocurrency cryptocurrency collapse 2020 an asset class.

Cryptocurrency collapse 2020

The prevailing orthodoxy about bitcoin as a store of value would have expected its price to rise amidst a stock market crash.

That orthodoxy, unfortunately, has been exposed as a joke: bitcoin has not only click to rise, it has fallen at five times the rate of other markets. It is true that other ostensibly non-correlated assets, such as gold in particular, have also fallen with the Covid crash.

To some extent, gold has cryptocurrency collapse 2020 its reputation here a safe store of value at least, cryptocurrency collapse 2020 to other markets.

Cryptocurrency collapse 2020

This is a famously volatile asset class. With the market in a panic and investors concerned about losing their money, who in their right mind is going to pull money out of the sharemarket… and invest it in cryptocurrency collapse 2020 even riskier asset?

Cryptocurrency collapse 2020

We ought to be clear about the fundamental reality of investing in cryptocurrency collapse 2020.

Holding cryptocurrencies, at this stage in their evolution, is a speculative bet on promising technology. cryptocurrency collapse 2020

Cryptocurrency collapse 2020

They were not cryptocurrency collapse 2020 to fare cryptocurrency collapse 2020 in a bear market where investors are seeking safety and solace for their investments, and there was truly no evidence that they ever were.

A true bitcoin disciple might argue that a deep recession is still a positive in the long term for cryptocurrency adoption, as the inevitable rush of central banks injecting money into the economy supposedly erodes the integrity of the whole system.

cryptocurrency collapse 2020

Cryptocurrency collapse 2020

Does this mean that cryptocurrencies are all a waste of money, the wares of frauds? Not at all.

Cryptocurrency collapse 2020

The investment thesis for most cryptocurrencies relies on some kind of technological or system innovation, not the store of value argument. In fact, unlike bitcoin, many cryptocurrency leaders are cryptocurrency collapse 2020 about the risk and volatility:.

Cryptocurrency collapse 2020

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