The bull can be bullish in positive stability. We have been in that phase when crypto made a huge surge. There was a time when no one heard of or even had value for Cryptocurrency. Thanks to our leader currency bitcoin when it emerged strong some years ago and many saw the opportunity in the innovation. So many projects came up and over 4,000 coins and tokens were created in a short range of time. We all saw white papers here and there with promises that almost touched the sky.
I could remember those days when we purchased tokens blindly with the hope it would surge for us to make substantial interest. Hahaha, its just funny when I remember those days, especially when you see those projects still crumbling or some even shut down.
Sorry for taking you off track, let's continue.
I have been sitting down to question myself about the cryptoverse and how we could be able to make it a store of value and a major market driver. The question here is, why was crypto created? to benefit investors through volatility or to create the next stable asset that can drive the economy. The game of buy low and sell high has been there in the financial markets even before the introduction of cryptocurrency, but how about 'buy very low and sell very high'. Let's delve into some negative thoughts and attitudes towards the cryptoverse which I feel should be reversed.
When one is discussing about cryptocurrency, one negative view of it has always been its volatility. We all know crypto volatility as it entails the rapid and unpredictable price fluctuations in the cryptocurrency market. It has contributing factors like market sentiments, news events, trading volumes, and the hype characteristic of the new crypto market. While volatility can be mostly seen as associated to high risk due to unstable short term markets which can wipe investors' capital, it can lead to significant price gains also in that short time. In short, this so claimed disadvantage has been leverage by several entities to milk unethical short term gains.
Don't know if I should say it was not meant to be a get rich quick scheme. We need to focus on how to build good projects upon blockchain technology. I must say greed is taking over the cryptoverse. Investors are after monetary gains, no one is much more interested in the fact that this is a new way to make transactions, create DApps and many others which can ease burdens. Every company that holds a piece of bitcoin or altcoin has one purpose; to sell when it is matured. Much more a game of robbing Peter to pay Paul. Is it that if bitcoin or altcoin paddled in the range of $0.5 to $0.55 cents, investors would never have showed up. Many are here because crypto is volatile, using this opportunity to milk the system.
Crazy enough, when the market seems not to be favorable, we have seen market influencers play their part. The ease at which the cryptoverse is manipulated I must say is an opportunity for whale investors. Recently we just heard what cointelegraph said about SEC approving Blackrock Spot ETF and how the market surged by almost 10 percent. Do you know what 10 percent means to a whale investor? The question here remains: could it has been misinformation or a deliberate manipulation. We are talking about the media here, you know mostly lies fly. Will such acts make the SEC side with this project anytime soon? Why must the cryptoverse be surviving on hypes, is this basically the vision for the next big thing.
In my personal view, stablecoins may have a huge advantage over others in the near future. Bitcoin is a great crypto I must say, but many hold on to it because of its unlimited price surge capabilities. Everybody wants bitcoin to get back to $60,000 mark and bypass it to new all time highs. The question I ask here is, when all of this happens, then what? It is high time we value the quality of blockchain as it birthed cryptocurrencies rather than focus on high gains through quantity hoarding. Let's all come back home.
Bitcoin does not need to surge to new all time high to prove a point. Even if it were to be worth $1, we need to create stability around it and let go of buy very low and sell very high. The current challenge here is that greedy investors have gotten their way into the system and they have only one aim, they don't care about the technology or any needed innovation, all they want is huge gains and have manipulated many to achieve this. Can this be the decentralization we boast of? How many can sincerely say, they prefer crypto for its borderless and swift transaction characteristics or even blockchain technology for its decentralization and innovative models? few I must say, for the majority are here to make gains.
Wrapping things up I must say, I only wish there is someone out there who will read this post and get my clear view of what future we need for cryptoverse. We need a financial system that is borderless, swift, safe and stable. When will the word volatility be erased from the nature of cryptocurrency or is it impossible? This gap that has been given to greedy investors to patrol and milk the cryptoverse must be closed and I advise it should be done soonest.
