Do You Have Doubts About Crypto?
Just one year ago, cryptocurrency price was at an all-time high. Looks like a lot of things change this year. LUNA crashed and turned into dust. Every cryptocurrency you saw in 2021 is down now.
So is this the end of crypto? When the crypto market goes down, you keep your crypto on the lending platforms like Celsius and BlockFi. You wanted to get interest that seemed risk-free, but you lost your crypto.
You put your trust in FTX since it seems savior of other platforms and everyone was positive about this crypto exchange. Last week you lost the crypto that you hold on FTX. You have come to crypto seeing people making a lot of money, but you end up losing all your money getting into crypto.
More crypto regulations are coming. You can see there is a lot of talk about regulations. Regulators will crush the crypto. Even though there is an overheard word of decentralization in crypto, most crypto is centralized inside, they just try to wear decentralization clothes.
It makes it easy for regulators to crush those crypto projects and make it looks like they did not exist before. Those centralized crypto projects will have nothing to do except kneel down and accept the defeat.
So you have doubts about crypto. FTX is not crypto. Crypto.com is not crypto. They are highly centralized exchanges and are bound to follow what regulators like them to do. Otherwise, regulators can put them in jail and end the story.
Regulators have no power over decentralized crypto. Bitcoin is the best example of decentralization, and the government attempted to ban Bitcoin before but failed miserably. Most cryptocurrencies will not survive in the bear market, but there are some cryptos that not only survive but also thrive in the next bull run.
In a hard time, you might lose your confidence or you may have more confidence. You should go back to the basics. Why did crypto and blockchain come in the first place? What did it actually offer? You will have more confidence in crypto. You will make a change in your next move.
So what do you think? Please feel free to leave your comments. Thank you for reading this post. That's it for now. I'll be back with another post.
I think all who start with crypto need to be patient and wait moment for recover. It was a long period of developing crypto in financial systems and people need time to involve within its changes.