This is first article here and we will be discussing about cryptocurrency hype mainly known as "Pump and Dump". Most beginners/intermediary investors and traders are always amazed or overwhelmed by these technology. This kind of trading in stock market is rare but not absent, just that the methodology has being over emphasised in an unregulated market like crypto. Most dominant cryptocurrencies like Bitcoin, Ethereum, Litecoin do steam some resistance but new altcoins are vulnerable to market manipulation without any chance of resistance or repossession.
Since last December the volatility of crypto market has increased at arithmetical progression, resulting thousands of people losing their funds. Most banks has wittingly and unwittingly suspended customers from using their credit cards for any purchase of crypto currencies, in fear of debt.
In my instance, I invested over $20,000 and at present the value of such investment is less than $6,000. Most people has sold their cryptos due to fear of uncertainty though, i believed that is what trading is all about... Prediction/forecast and risk.
Even after the bull runs the market is still stagnant, moving slow but steady, causing anxiety. Most people I know has stopped investing into crypto due to (FOUD) fear of uncertainty and doubt, even when the market seems promising.
Despite, the fear of investing in cryptocurrencies, the technology has seen rise in different industries like Banking, Logistic, Government, Environment, Healthcare and even Space station exploration. Banks and bankers has invested millions of Dollars to what they called private Blockchain and some in the public (Decentralised domain).
XRP – Ripple is playing a pivotal role by providing blockchain technology to banks. Some banks in Europe has tested Ripple Fast transfer protocol which allowed them to complete a wire transfer in a minute. This kind of protocol/technology is what we need in today’s market in order for cryptocurrencies to see mean stream adoption.
ZLM - Stellar in positioned as a platform that provides Banking to the “Unbanked”. The “Unbanked” was coined to describe the under-reached populations that do not have a bank account or those communities across the global with no banking presence. Stella described it mission statement as “Move Money Across Borders Quickly, Reliably, And For Fractions Of A Penny. Stellar is a platform that connects banks, payments systems, and people. Integrate to move money quickly, reliably, and at almost no cost”.
XRP Ripple and XLM Stellar are the two Bank Friendly cryptocurrencies that has seen main stream adoption and one can easily suggest the reason being that Ripple focuses on providing solutions to banks, Stellar on the other hand aims to simplify the payment system for people.
The questions still remain, despite the innovation, investment and adoption rate of crypto, why is the market still volatile? Well let me explain. Aside from the fact that this is a new technology, governments around the global does not have a vivid policy to define either the market or the technology. Some authorities have classified Bitcoin as Equity while some Assets. So judging by the market confusion, one can only hope and pray for the speculation to keep driving the price and wait for such time when our governments will be responsible enough to define or empower people to understand these amazing technology.
