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Cryptocurrency: Stop messing about!

Cryptocurrency: Stop messing about!

As we all know the Cryptocurrency has been badly hit recently.

With the Chinese government clamping down on Cryptocurrency trading, it has long been suspected that China has been the biggest Crypto mining country in the world. I think this big dip is proof of that.

Then there's Elon Musk putting his two pence worth in, because Bitcoin is not mind efficiently and uses too many resources therefore power to mine Bitcoin.

Really, he knew that all along and bought a huge amount of Bitcoins anyway. Unfortunately is seems that Bitcoin and Doge cryptocurrencies are a billionaires playtoy.

Musk just does what he likes at the expense of others, you can be sure he won't end up out of pocket. His influence and power is not good for normal traders and no one person should have this much power and influence over a worldwide currency.

The US are also talking about making Cryptocurrency traders accountable for their crypto finances.

The Cryptocurrency market is no different to major stocks when it comes to confidence, at the moment with all these factors hitting the news confidence is being rocked and many traders are panicking.

But, hold fast this is not a unique event, its happened before and will happen again, just check the volatility of cryptocurrency trading historically, it's nothing new.

bitcoin 23a may

My personal trades have been hit hard like everybody else's, but I am hodling and not selling any of my crypto as sooner or later the prices will start to rise.

In the banking world the phrase 'too big to fail' is used with good reason, the crypto world is the same, crypto is here to stay and going nowhere.

The Cryptocurrency market as a whole turnsover billions of dollars everyday globally, Musk, the Chinese and US governments will not stop the crypotcurrency machine nothing will.

Just hold on to your hats and enjoy the ride!

If you are new to the Cryptocurrency world and would like to open an account we recommend Cex.io.

What do you think? Comment below or follow us on Facebook or Twitter.

Disclaimer. This analysis and forecast are the personal opinions of the author that are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by techbull.co.uk. Readers should do their own research before investing funds.

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