Different digital currencies experienced price spikes and fall during the past few years which is a matter of concern for the cryptocurrency traders. Need of the day is that we should keep an eye on the particular factors that are causing price up and down and smashing the digital currency market. Some of these factors are mentioned below to help our readers get an idea about their future business.
The extreme unpredictable nature of all kind of digital currency is the basic reason behind its market valuation. The dollar value of cryptocurrency kept on facing ups and downs throughout the year and analysts forecasted that they are expecting bitcoin to hit $60,000 mark but there are no genuine and strong proofs to verify their speculations as they are not sure themselves.
With the passage of time, new digital currencies are stepping into the world of crypto business which ultimately created an environment of competition for bitcoins monopoly. Bitcoin share of market has turned down to 50 to 60% from a huge percentage of 90% initially. Besides this, heavy transaction costs and network failure is creating problems in the surveillance about future of cryptocurrency business.
The major issue that falls in the failure of cryptocurrency is the emergence of some fraudulent currencies into the market which have no coin value. While the others that created a healthier environment of competition like Litecoins and Ethereum. But still it is analyzed that the number of ICOs will decline with time while giving birth to fake currencies to rise in the market.
ValueSpectrum.com News Wire & Equity Research: +31 084-0032-842
Copyright analist.nl B.V.
All rights reserved. Any redistribution, duplication or archiving prohibited. analist.nl doesn't warrant the accuracy of any News Content provided and shall not be liable for any errors, inaccuracies or for any actions taken in reliance thereon.