Cryptocurrency Endgame?

The whole world is shocked by the massive fall in price of Bitcoin, BitcoinCash, Ethereum and other cryptocurrency. It seems the Thanos of cryptocurrency has blipped all the cryptocurrency.

It seems the end is near for the cryptocurrency. The total value of cryptocurrency has plummeted enormously. We are experiencing a drastic drop that sees bitcoin lose half its value. The price has fallen from above $40,000 to a current $17,000.

Cryptocurrency enthusiasts have been warning about the bursting of the bubble for years, but never more so than now. Over the past seven days the total market value of all digital currencies has nosedived by huge numbers.

Key cryptocurrencies like Ethereum, Bitcoin, BitcoinCash and Ripple have all suffered major double digit percentage losses in the past week. Ether is down just over 36% from $1,500+ to $909. Bitcoin is down 50% from $40,000+ to $17,000. BCH is down 60% from $300+ to $109.

There are many contributing factors to this crash, however a major one is the fact that there's been an increasing number of reports of investors losing interest in cryptocurrency.

This is a decline of over 50% in each cryptocurrency in just over two weeks. That's a big decline for such a short period of time. And we wonder why the media has been talking about the crash of cryptocurrency. The price decline started really strongly months back.

The cryptocurrency market has been in a terrible spiral of decline over the past couple of months, with the value of Ethereum tanking by more than 50%. As at the last time I checked, it was on $909.

The cryptocurrency market seems to be taking a sharp nose-dive. After months of soaring, Bitcoin and other cryptocurrencies have lost their momentum. It's hard to pinpoint the cause of the sudden drop but it seems the end is near for the cryptocurrency.

Broadly speaking, the reason for this collapse is simple: the interest has gone. A small dip on Wednesday turned into a freefall as crypto investors shed their holdings and fled back to fiat currency. Some experts argue that this collapse was inevitable due to the fact that Bitcoin is an asset with no intrinsic value, while others argue that this is just a correction after one of the biggest bull runs in history.

Above is the screenshot from bitcoin.com wallet, a screenshot which shows the current price of Bitcoin, BitcoinCash and Ethereum.

Many investors who thought that they were lucky and owned thousands of dollars in a few months suddenly found themselves in the middle of a huge fall a few days ago. A lot of people are losing faith in the market and large investors are beginning to panic. As we know, the cryptocurrency market is very volatile and can easily change directions at any time.

Cryptocurrency is something that has boomed in popularity over the past few years, as more and more people get into it and find it to be a potentially profitable move. Whilst some are still very bullish on cryptocurrency, others think that the bubble is starting to burst, and that it may not be long before the value plummets further.

No one knows what will happen next with cryptocurrency, but as of right now, some believe there is no future in it. But as for me, I believe cryptocurrency is the future.

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