The Long Game of Cryptocurrency

The Long Game of Cryptocurrency

Perhaps it was recent actions from China, recent legal hearings involving Libra, or simply a wider trend with multiple factors—I’m only able to speculate—but, for a moment there, it was red nearly across the board. Bitcoin, Ethereum, Litecoin, and many other major cryptocurrencies dropped drastically.

And then they rose back like a phoenix.

Within a single 24 hours, over 20 different currencies experienced upward trends, in some cases rising over 10 percent in their value. Cryptocurrencies are often volatile, so this happening is not unprecedented. It’s jarring to see them all dropping at once, though.

But this proves the point, and the mindset of cryptocurrency enthusiasts since the beginning, that, for the most part, the best currencies will eventually pick themselves back up, even if they experience drops or setbacks.

These digital currencies are a part of the future of economic interactions.

Legal issues and complications, swings in public perception, and digital attacks: all simply the growing pains of an intricate system that’s continuing to change the world of finance, digital security, and investing by its very existence. This may not be the last time we see a deep plunge, but it’s going to be okay: cryptocurrency is tenacious and survives despite volatility.

By |2019-11-27T05:42:56-05:00November 27th, 2019|DFN COLUMNIST|Comments Off on The Long Game of Cryptocurrency

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