This year the crypto currencies have reached all-time low throwing investors into a panic frenzy.
As a result the currencies has drop to 57% since the start of 2018.
According to Coinmarketcap “the market capitalization of cryptocurrencies reached a low of $261.6 billion”.
This is a huge loss for investors and as pointed out by cryptocurrency fund manager Adrian Lai
“Last year’s crypto market was somewhat “irrational” due to a lack of regulatory mechanism and institutional investment.
Adrian Lai “Regulators are not banning the development of cryptocurrencies, but are trying to better regulate the market, which should help the industry mature”
Link: South China Morning Post http://www.scmp.com/business/article/2140811/mature-cryptocurrency-market-draw-more-institutional-traders-year-analyst
On another front the US Securities and Exchange Commission Jay Clayton pointed out that “that the crackdown by new regulatory bodies aims at cleaning out fraud in the industry to protect retail investors”
I believe that Jay Clayton is on the right track as all forms of criminal activities needs to be investigated and remove from this market.
In my research the future for cryptocurrencies investment remains very positive since Finance Minister of South Korea will be supporting crypto currencies trading.
I am also reminded that in 2017 the Japanese accepted Bitcoin as the legal tender.
Further analyst conducted by Vicky Redwood who is a Global economist for the Capital Economics.
Predicted that the market price of Bitcoin would fall further.
Vicky Redwood made it clear “it is simply not a credible long-run alternative to conventional currencies.” Link: https://www.capitaleconomics.com/
So what’s my stand in regards to Cryptocurrencies investments?
My research indicates that there are very positive signs for the Steem$ and that this is the right time to invest, and to Power Up your steem account.
Investing in cryptocurrency 2018 for Newbies
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