Cryptocurrency

Future of blockchain technology: How have the arbitrary prices been affecting the popular sector?

One aspect that has been noticed by several experts in the field is that virtual currency has gained popularity over a definite period of time. However, the changes in the prices of the virtual currencies have led to a state of immense apprehension about the role played by virtual currencies in the market today. It is, therefore, necessary to look in detail regarding what is the future of this yet nascent sector? What does it aspire to hold in store for those closely linked with it? What can be done to avert the risks that it brings in the economic system of the several countries that are involved with it?

The biggest drawback that has come to the attention of the experts in the sector is that there is more to virtual currencies than most people care to learn about. Ignorance has foiled several investors in this sector. It is also interesting to note that increasingly, people are getting more interested in this sector, all the while aware of the degree of volatility that the field comprises of. A lot of people who had invested previously are anxious if they would ever get the reward of what they had invested the previous year and there are myriad views regarding the same from the market.

It has been stated by the constant members of the economy that those who have invested will get the benefits of their investment even if it takes longer. For example, Fred Schebesta, who is the founder of HiveEx.com has stated that the behaviour of Bitcoin is, to a large extent, similar to that of Gold. It is for this reason that it is essential for a number of investors to grasp the concept of how Bitcoin is a long-term investment and hence it is necessary to look understand it in that context.

According to the surveys conducted by Schebesta, it can be believed that there is a large section of the system that fails to understand the dynamics in which the Bitcoin operates and there is another large section of the society that is under the impression that Bitcoin is a scam. Schebesta is of the opinion that even as people are losing faith in Bitcoin due to the large drop in its prices from the previous years, it can be believed that there is no reason to lose hope considering that there have been bigger changes in the market previously, the market has been subjected to larger upheavals in the past as well.

Even as there is a lot of anxiety in the sector regarding virtual currency, it can be believed that if more time is given to the sector to grow, it can live up to the expectations that the investors have about this field. However, there is a lot that needs to be worked upon to make sure that the sector of virtual currency grows into the promising area it looks like right now.

 

About the author

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Kavya Lakhani

Kavya is one of the integral members of the CryptoNewsZ Journalists team. She manages the team of correspondents and researches for the platform. She holds a master degree in Journalism and has cryptocurrency trading experience as well. She constantly follows the cryptocurrency ecosystem with a passion for decentralized fin-tech.

You can also mail her at [email protected] to discuss anything related to her reports.

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