Once crypto was seen as the alternative currency. People were claiming that Bitcoin will end the dominance of US Dollar. But this has proved wrong again and again. Recently, Kevin Warsh was nominated as the chief of the Federal Reserve, USA. Only his nomination has triggered so much fear in the world markets. He has yet to taken the chair but people are fearing that he would not decrease interest rates. In fact, it is said that his actions may create liquidity problems. That means liquidity crunch for the investors. So, the big investors are pulling money out of gold, silver, cryptos and stocks. So, the crypto market is in turmoil. Bitcoin has fallen significantly. Who cares about penny altcoins like Hive and Steem. They are falling freely. In fact, Hive is performing badly compared to Steem. Hive is more popular than steem but this is happening. I don't know why this is happening. If you have any suggestion, feel free to write in comments.
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