Why the crypto market is falling down?
The queries directed to fluctuation in price of crypto market are the frequent questions which have been asked lately by a number of people. These coins are of various types, comprise upon (Bitcoins, Ethereum, Ripples, Bitcoin Cash, Litecoin, IOTA, Tron etc). What are these coins and what technology is used behind those? We will cover each coin in separate story to give you a brief understand about all of them.
Something strange had happened in crypto-market in 2017, which was noticed by very few people. The year of 2017, had introduced a new concept of “Crypto Hype News” , which were hot news on every social site (Facebook, twitter, youtube etc). “Crypto Hype News” is all about which coins’ value is fluctuating in coin market, which coin will be more profitable in near future with respect to its value. A term “Moon” came into crypto market. We see plenty of videos, shared on different social medias, in which disappointed faces are exhibited for the depiction of a downfall of a particular coin’s value. Whatsoever the reason might have been shown by these video, mostly they are related to the fluctuation of coin’s value. Whereas, market is absolutely care free from all such news. The “Crypto Hype News” is only only concerned about “Moon News” which according to them, are news which have some future.
Fear and hype are two factors. Fear of devaluation and hype of newly introduced coin in market are two most important reasons of creating unrest among people. Media‘s hype in terms of their focus on one coin, makes the value of other coin to fluctuate. Secondly, there are 80 percent people in market of coins, which are new. They get basic knowledge and news from different sites, and star investing in the market. Now imagine if you are new in the crypto market and you read the news on these websites what will you do? You will invest your money into those coins that these websites want you to invest in. Most of these coins are for pump and dump purposes. They take their shares and get out any following news. Such an approach of new comers had further contributed in dwindling the values of different coins in market. These new arrivals in markets are just another way of creating hype in public after different news sites.Terrified markets; always remain apprehensive of any bad news.
These sites lacks knowledge about coins, about how Bitcoin is being used, what are its transaction fees and also these sources ignores small contacts of Bitcoins. Moreover, these sites don’t tell or depicts what the coin does. Such trends contribute in creating hype in the market, making people go awed about coin‘s market prices. This is all a part of something markets have to pay at some point and we think that’s THE POINT at the very moment.
So what is required? How can one avoid to get mesmerized by these promotions of coins? How can issues related to investment in market be resolved? The investor should keep this thing in his mind that It is just a matter of time, the coins prices fluctuation is just a matter of time which with time, shows variation. It’s not about demand or availability or even sarcastic of some particular time. Secondly, investor should pay attention on what they are putting their money into certain ongoing projects.
Thirdly, one should stop paying attention to the hype created by different sites on the market value of coins and focus on where should money be invested. In case you possess enough market knowledge, then it will be better if you share this information with people around you, to make their investment flow into the right direction. Boycott with stuff which provokes hype in general public is also a way to save money from being invested in the wrong direction.
Last but not least some crypto news outlets like News.bitcoin.com, cointelegraph.com, coindesk.com and famous people will million of followers on twitter and introduced themselves as CRYPTO GURUS and INVESTORS, they are born with a goal to hype up coins. They take their profits and get out of the picture and never really talk about that coin/project in details, in terms of technology, uses and benefits for the world. They manipulate the news with a spicy aspect in the favor of their own to get reviews/sales without even caring about people’s investments. People are also so obsessed with next big crypto news that they don’t pay any attention to the detail of the news. If few banks in a country say that they are going to use the bitcoin blockchain to record the transactions.These crypto news outlets just drive your focus on coins rather than the technology, so what happens is people start buying the hyped coin and the prices go up. No doubt these news outlets have the power to swing the crypto market with few posts, no matter they are doing this for some bucks. These website have an impact on people as a lot of new generation is also coming into crypto market to make easy money but trust me , “easy come, easy go.” They attract people with delicious headlines like, which coin is going to moon next? Litecoin will hit 3000$ by the end of 2019. Ripple will reach 100$ by 2020 and bitcoin will reach 1 million dollars in 10 years. Isn’t it too much to attract the new prey?
1- Stop paying attention to hyped coins, websites and videos. Do your own research and see the real world uses for certain projects that are happening now. Pay attention to where you put your money and read about the technology behind the coins.
2- Don’t invest in pump and dump schemes.
3- Don’t get a little too deep into crypto too fast.
4- If you already know enough, educate your friends and people around you who are new to this space. It will go a long way in the long term. It will help the market and technology to change the world, definitely for better.
Follow us for more updates news, guide and analysis from the world leader in crypto and blockchain technology. We are spreading this knowledge for free.
