Why Cryptocurrency will Fail?

Question

Cryptocurrencies are seen to decline in trend and graph and many investors predict that cryptocurrency will fail. Why is it so? Why is cryptocurrency failing or why will it fail?

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Moris Johnsons 3 months 1 Answer 51 views 0

Answer ( 1 )

  1. Cryptocurrency is the new model in the financial transaction and is facing numerous challenges to its market and overall existence. However, the successes and profits that it has derived can’t be overlooked either.

    The major reason for its failure can be drawn from the fact that there isn’t any new innovation. The developers go on creating one single currency with slight variation, rather than focusing on bringing something new altogether.

    For example, there have been multiple launches of new categories of Bitcoin currency, irrespective of the fact that Bitcoin is already there in the market, which is high on demand.

    Researchers assume that only large institutions of currencies will be able to survive the market challenge and bag profits.

    Moreover, despite several problems to overcome, in the cryptocurrency model, it doesn’t mean it is bound or doomed to fail. Many new launches or even existing currencies are high on demand and are providing huge profits.

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