Cryptocurrencies are one of the most long-lasted trending topics in the world; from Mike Tyson, who saw the future of cryptocurrency even before it was in trend, to Tesla CEO Elon Musk, many celebrities backed the digital currency, which influences millions of people to invest in the cryptocurrencies. Bitcoin and Ethereum are two of the most popular cryptocurrencies globally, and their trading is legalized in many developed countries, including Japan, the United States, Canada, Australia, and a number of European countries.
The Background:
Everyone who invests or wishes to invest in stocks or cryptocurrencies is aware of its unpredictable nature. Recently, Bitcoin and a few other popular cryptocurrencies encountered a dramatic pullback in the market. The flagship cryptocurrency Bitcoin confronted the highest low ($30000 at one point) in the last three months, and Etherium drained to below $2,000 at one point.
The dramatic collapse created a buzz in the online trading world with negative headlines and raised concern over the future of cryptocurrencies. The future of digital currencies is uncertain, but only if you invest blindly and only if you're looking for immediate returns. It is currently dealing with the struggling phase because the whole world hasn't accepted it, but it'll surely go up when it does.
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