The Cryptocurrency market is very deep and different currencies offer different solutions to investors, it's not just about bitcoin.
The bitcoin and cryptocurrency market fell by almost a third this week. What can this mean for the future of digital money? Analysts, requested by the RT are divided into the case.
Can Cryptocurrency Mania End Like Wall Street Crash of 1929?
“Despite the declared advantages of cryptocurrencies (security, anonymity, and de-regulation), the same pros have become cons that the currency should not have,” TeleTrade financial consultant Mikhail Grachev told RT.
Anonymity makes it possible to pay for prohibited items - drugs, weapons, says the analyst. The lack of regulation leads to a lack of responsibility, and if any controversial issue arises, it will hang in the air, he added.
“And the most important argument is that bitcoin, etherium and others cryptocurrencies, are quoted in US dollars, and no one has given up on the greenback in favor of a combination of digital symbols,” Grachev said.
Read more: rt.com
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