So writers come up with a good reason for why the market made a move. Interest rates changed. A trade war looms. A big soybean shortage struck. Some of these are probably factors but it’s really impossible to use that news in any effective way 99% of the time. The other 1% of the time it is but so what? Is it really worth watching 99% white noise to get that?
The issue is also resilience. The reason digital currency have failed in the past is because a centralized digital currency is too easy to kill with regulation. Bitcoin’s decentralization is one of the reasons it’s survived when digital coins of the 2000s (like E-gold, Liberty Reserve and Tencent) failed.
R3 is doing the exact same thing as Ripple. They’ve raised $107 million from top venture capitalists and are using blockchain to help banks move money internationally. They’re currently in 70 of the world’s largest banks and the reason you might not have heard of them is simply because they have been doing this WITHOUT their own coin.