Experts on cryptocurrency are warning others not to trust the bitcoin. While the price of bitcoin has not crashed yet, it is close. According to Alex Sunnarborg who works in the crypto hedge the sooner that this currency hits the bottom the better it is.
It is hard to predict when the bitcoins will reach the bottom and so fat the portfolio has been neutral.
Sunnarborg has stated that he is a fan of the bitcoin but is hoping that the cryptocurrency market reaches the bottom so. Once it reaches the bottom the rehabilitation process can begin. When the market crashes the unstable cryptocurrencies will be weeded out from the strong and stable ones.
Once the market bottoms out so many of the unreliable cryptocurrency companies will go out of business and only the high quality and stables ones will continue to exist. This will also remove all of the companies that are a scam out of the market.
There is a campaign that is being promoted called Crypto Without Chaos. This will regulate the exchange of the cryptocurrency and will encourage people to invest in it without having to worry about scandals and hacks. The New York State Attorney General Office has launched inquiries into the 13 top crypto exchanges to see if they operated in a legitimate manner. Many say that this will lead to transparency in the industry.
Potential investors are still skeptical about how cryptocurrency works and they still feel like they are being manipulated. If there were some regulations, this will allow people to have greater faith in this technology. One of the best ways to do so is to remove shady companies from the market. If the market were to crash only a couple of the strong companies would survive and will benefit the entire cryptocurrency market.
In order to get more people to take interest in this currency, it would be helpful for the market to bottom out and allow the strong companies the chance to recover and prosper. If some of the companies were to get rejected this would help with the health of the market as well. It will take some trials in order to determine which companies will be able to go strong. In the end, the companies that are able to recover will thrive and prosper. They will be able to attract more investors and people will have a sense of security in the market.