Cryptocurrency around the world: divide et impera
If you take a look at Bitcoin’s or other cryptocurrencies’ price in different countries, you will see that it varies a lot from one to another. How come? Let’s try to figure out! For now, in a bipolar world the humanity is divided into two camps, some believe that the Blockchain Era is about to come and this technology is the future. For others, cryptocurrency is a way to quickly raise some cash by selling it at a higher price on having bought for nearly nothing. Some are buying crypto because of its potential everyday use, and some just don’t care at all. Anyway, now cryptocurrency has a solid market position as other material assets. And as any other currency, it has its own ups and downs. But if the vitality of the exchange rate in general is quite understandable, the cost difference of the cryptocurrencies varying from country to country causes further questions.
The best way to understand what’s going on with cryptocurrency around the world is to simply take into account the speculative nature of the market itself — vendors can establish any price, until there is a buyer willing to pay. Since not every country has access to the Coinbase, people have no choice but to buy it from local vendors. This and the fact, that cryptocurrency depends a lot on the actions of the companies or private holders, who own considerable quantity of currency, makes it so mutable within itself. For example, the prices in India are very different from let say British prices. This situation with the crypto-pioneer, Bitcoin, has led to appearance of new cryptocurrencies, both on a global market and within each country.
Thus, for today there is a huge amount of cryptocurrencies — some keep its’ position on the market, others fall away. Is this situation to change and become more stable? Yes, and it certainly will — it’s just a question of time. Sooner or later, cryptocurrency market will come to some consensus, that will make the prices to be more or less the same across the world. But till that time those who want to diversify their risks choose to keep their money in different cryptocurrencies.
We, in the Arcona Team, know this situation very well due to our pre-ICO research. And we have good news for you, guys! To make it the most convenient and efficient for our token-holders, during ICO that starts on April 15 we will accept payment in two most popular cryptocurrencies — both Ethereum and Bitcoin!
Discover more on our TG!