Cryptocurrencies are digital currencies created for purposes ranging from utility tokens for a blockchain platform to internet-based currency for payments, and more. Cryptocurrencies are volatile in nature, so a little up or down in the price should not bother you. However, it is natural to get worried when there is a big crash in cryptocurrency prices.
I’m here to tell you that there is nothing to worry about. Here are some reasons why I believe cryptocurrency will be back in the business, sooner than later and why there is no reason to worry about the ongoing market crash.
Not sure what I’m talking about? The crypto market is presently going through a rough phase, as the values of almost all top cryptocurrencies have fallen significantly over the past couple of weeks. But, I’m confident that cryptocurrencies will be back to their pre-crash levels very soon. Here’s why.
Bear markets are common in the crypto space
Even in the traditional markets such as stock markets, both bear and bull trends are common. And because cryptocurrencies are volatile, they tend to experience comparatively bigger bear and bull markets. As we’ve seen in the past, a crypto bear market typically lasts for 1-2 years, and there seems to be no reason for the current one to be different. In short, there is nothing to worry about if you are in it for the long term.
We’ve already seen bigger crypto crashes than this
Another point I’d like to make here is that the ongoing crypto crash is not as massive as we have already seen in 2017, 2019 and 2021, when the value of Bitcoin and many altcoins dropped by up to 50% or more. In the ongoing crash, the Bitcoin price has dropped by about 35% so far, which should not be a point of concern. We know for sure that the market always goes up after a fall.
The recovery can be sooner than later this time
Experts in the crypto market are positive that cryptocurrencies might recover as soon as the world economies start recovering from the ongoing financial meltdown, which is affecting traditional markets as well all over the world. This, however, might take another one or two years.
Cryptocurrencies are here to stay
I personally believe that cryptocurrencies are here to stay for a very long time. This is because these digital currencies are much bigger than markets and trading. They are the key to building a decentralized economy, which is truly global and accessible by everyone everywhere in the world. The true potential of cryptocurrencies is yet to be realized, and when it happens, the world might truly become a better place to live.
From an investor’s point of view, this might just be the best time to invest in cryptocurrencies or start your crypto journey if you are not already investing. Almost all cryptocurrencies are at a record low price. And there are many new high-potential tokens coming that you can buy at a great deal for good returns in the future. Mr Mint, for example, is a new-age token that gives access to affordable mining of Bitcoin and other cryptocurrencies with a chance to make big profits from the increase in token valuation. Find out more at https://mrmint.io/
Original Source: www.medium.com