While the past few months I haven't been posting anything, I was not away when it comes to observing the cryptocurrency markets and trends. So let’s review what happened and why a hiatus was needed.
Price
With the major price drop at the end of January, it was clear that most of the new investors were not educated about how volatile and different cryptocurrencies are to other investments. With falling price and lack of understanding, the public’s interest in cryptocurrencies wane. Subsequently, the difficulty of exiting as well as many numerous altcoin, ICO and investment scams further reinforces the panic selling mentality. When the dust settled, the biggest casualties are the uninformed who was not interested to invest in the technology but the predicted gains.
Pump and Dumps
If you have been following my blog, you’ll notice the general “cautious” tone in regards to cryptocurrency investments while highlighting the various technological advancements that altcoins have been offering. But as I speak of their strengths and unique value propositions, there are other bad actors that take these articles to fuel their pump and dump activities of which I don’t support. My aim is to educate and to encourage discussion about these advancements and how they can improve and benefit the community, not for quick profits.
Technological Progress
While prices lay dormant the first half of the year, the technology and applications for these altcoins are growing every month. But as announcements of trials and success are shared, these voices were drowned out by concerns of regulations weather too much or not enough in nation’s capitals around the world.
As for the future, the block chain technology itself is growing by leaps and bounds and is seeing actual uses in various industries. However, I foresee weaker cryptocurrencies will be trimmed from exchanges meaning that their trials to prove their value are coming soon, if not happening now. If you haven’t re-evaluated your portfolio in terms of their technological value and future viability, take some time and be surprised at your own findings.