Monday, May 27, 2024

Does it make sense to look back on previous crypto market crashes?

The recent crash in the market has reminded people of the disastrous 2018 crash that saw millions of people losing a lot of their money. However, experts argue that it does not make sense to compare the present crash to the past. It is important for investors to realize that the crypto market is not at a stage where it was in 2018. Today, it is possible to do almost everything with cryptocurrencies. Be it buying property or donating to charities, almost everything can be done through cryptocurrencies. On the other hand, big tech companies have dived into the world of metaverse and NFTs. Being an integral part of this ecosystem, cryptocurrencies have achieved credibility in many circles. As such, the very basis on which the crypto market stands is very different from what it was in 2018.

At weak moments like the present, it is very easy for crypto investors to despair and lose hope in the market. Crypto forums and chatrooms have filled up with such emotions over the past few weeks. Nonetheless, experts continue to assert it is a part of the correction process and the market will eventually bounce back. We saw sparks of that over the past few days, with Bitcoin falling, recovering, and settling. Some altcoins have also shown resilience and tried to bounce back. In 2018, things were very different and many people were genuinely skeptical about the future of the ecosystem. In 2022, it would take much more than a single market for the crypto market to come to an end.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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