Is Crypto Growing or Slowing Down?
June 2, 2021 (Investorideas.com Newswire) Throughout the start of 2021, crypto has found itself in the news perhaps in a much wider aspect than many had previously thought – announcements from huge names like Tesla with their own investment into Bitcoin saw the price rocket up to $60,000 twice throughout the year so far, before stumbling back down as the company would pull back due to environmental concerns, but also with success found from Ethereum as the year started out with NFT’s finding success on the blockchain before stumbling a little due to the same reasons in environmental issues. As many different services start to pick up crypto as a more mainstream payment method as seen largely through the likes of online gaming as sweet bonanza services here do so, but is it enough to keep crypto growing and do signs point to it growing or slowing down?
Some suggestions to the factor of crypto growing have largely been pointed towards the likes of Dogecoin which had been able to carve its own path throughout the start of the year, mostly through some celebrity endorsement and the hope from those who missed out on the first wave with the Bitcoin successes, with doge growing from $0.002 at the start of the year to a high of over $0.72 it had been heralded by some as bitcoin 2.0 and an opportunity to get on the crypto ladder. Whilst the price has started to fall somewhat, for those who were able to get in early to Doge it has still proven to be quite a lucrative option.
On the other hand, with a long history in volatility many have also suggested that the changes seen have just been par for the course, the bigger names will continue to find the bigger rises and falls and although up on this same time last year will be something that sticks around, although experts have warned that it’s difficult to keep an assigned value for them, with a note that the smaller coins will remain just that too with Doge only growing through a little bit of luck and the other small coins that have been emerging still remain with a relative tiny value and unlikely to find the same amount of growth as others.
It will certainly continue to be something of huge interest throughout the rest of 2021 and moving forward too with the big hopes that decentralized currency can be a huge player in the financial game, but with environmental concerns becoming increasingly public and countries like China scaling back on mining options which make up a huge part of the crypto mining space, it could also mean that the currencies experience a period of uncertainty whilst things start to equalise and fall into their correct place.
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