Why Blockchain is the Future
While some crypto investors (mainly newcomers) get nervous today as the prices decline we should focus on the positive stuff, right? Blockchain is the future. So many companies and governments realise how important this technology is moving forward. Players like Samsung and Porsche get into this. Just today we heard that:
- The US giant Comcast is banking on a world with multiple blockchains
https://www.coindesk.com/meet-blockdaemon-comcasts-first-big-bet-multi-blockchain-future/
Chile is about to adopt Blockchain Technologies to Monitor Electricity Network
https://cryptocurrencynews.com/daily-news/blockchain/chile-adopt-blockchain-technologies-monitor-electricity/Waves shows how the Future of Blockchain can look like via their own ecosystem
https://blog.wavesplatform.com/the-future-of-blockchain-68dd52d3c613
All good stuff and positive signals! Why worry about a day where the crypto coin market is in red? There is no need to panic - the entire market as you can see from coinmarketcap has been hit but this is a recovery and consolidation period - and happens often. I would not be worried and please avoid selling in panic, that is never good. What are the reasons? You never know but maybe it is because of:
Japan to punish several cryptocurrency exchanges
check Reuters: https://www.reuters.com/article/us-crypto-currencies-japan/japan-to-punish-several-cryptocurrency-exchanges-sources-idUSKCN1GJ1AEPotential Binance hack - as usual the media only speaks about bitcoin - well that secure headlines and traffic but it affect more than the slow currency :-)
Check the article FX Street article here: https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-is-falling-heavily-on-talk-that-binance-were-hacked-201803071800
A reason for sure is that governments like the US and South Korea are about to crackdown on cryptocurrency account holders for tax purposes but the demand for privacy-focused cryptocurrencies will not stop to rise.
Probably Bitcoin will benefit most from this recovery period compared to altcoins in the short-terms simply as crypto newcomers first invest into a currency they heard of but that might change. I am confident the entire market will be in Green soon again.
There are also a lot positive news out there today - read them above instead of getting too worried about any of your investments. Think broader - blockchain technology will revolutionise our life and the world. Crypto Currencies are only a part of that exciting shift for our society.