Saturday, September 24

The Recent Crypto Dip and its Uncertainty

 The recent Crypto dip is scary! Yes everywhere is bleeding and the end is not in sight yet. This is not a pleasant experience especially for those new in crypto. Old timers might have experienced this occurrence in past years.

The crypto world woke up to experience a dip in bitcoin Q4 last year after its surge to an ATH of 60k plus. It continued its slide into this New Year losing ground to its present price of $35k plus. Well, since Bitcoin is the standard of Crypto, other altcoins are towing its part with many of them losing more than 50% in value. Cope, a popular Solana token is currently trading at $0.4+ from its ATH of $8+. This is one of the numerous examples of what’s happening now.

Credit: CoinGecko

Many issues have been attributed to this dip of which the paramount is the ongoing feud between Government and crypto. There have been sanctions against crypto from the United States, China and others with The Central bank of Russia currently calling for a ban against crypto. This and other issues have led to the current widespread loss in crypto. Experts and signals have predicted that this onslaught will continue. Crypto traders and holders are currently suffering from losses amounting over hundreds of millions of dollars.

Crypto dips have been a regular occurrence since the inception of Bitcoin some years back. This scenario played last year which saw Bitcoin and other Altcoins record some lows before recovering back to smash its previous ATH. However, this is not a good experience for crypto users especially newbie seeing their portfolio bleeding. Many are losing faith in crypto and see it as another flash in the pan. That leads us to the question below.

Will Crypto Fade Away?

This is the question on so many people’s mind right now. Taking the volatile nature of crypto, it won’t be a crime to ask where this is heading to in years to come. The ability of crypto to diminish in value in a flash is not helping matters, its current issues with various Governments and Financial Regulators is an issue to worry about. Many reputable institutions and experts have labeled it a “disaster in view”

However with all these bad issues highlighted, it will be bad calling Crypto a total scam or a disaster to be unveiled.

 There are various scams carried out using crypto but Hey! Crypto has come to stay and here are some of my reasons to support this

  1. Many Reputable firms and Individuals are stocking up crypto: Firms like MicroStrategy, Tesla, Square and others are currently moving part of their portfolio to crypto. These firms currently own billions of dollars worth of crypto. Individuals like Elon Musk, Mark Cuban, the Winklevoss brothers hold over billions of dollars worth of crypto combined. El Salvador is the first country to recognize Bitcoin as a legal tender and is currently playing the BTC stocking game. So how will these Entities and individuals spend so much amount of money on something that will fade away soon?
  2. More Investments in Crypto: There is over billions of dollars currently invested in crypto projects. According to Blockdata, over 21 billion dollars was raised by Blockchain companies in 2021 with NYDIG raising 1 billion dollars to lead the pack. FTX and Celsius come second and third with $900 million and $750 million respectively. This is a whole lot of money to be invested on ponzi stuff.
  3. Increased Utility: Powered by the blockchain, crypto now offers real use cases for various products, projects and firms across the globe. Take for instance, Ripples XRP offers financial institutions the fastest and more reliable option for sourcing liquidity on demand. Customers cut across financial institutions across the globe which includes Bank of America, American Express, Santander, MoneyGram and so on. Financial Behemoths like Visa and Paypal has integrated crypto and are working to offer more crypto services in the future.

With these and more, Crypto has come to stay and like many innovations before it may suffer some setbacks before it can be globally accepted. Blockchain firms are coming to terms with financial regulators to amend its battered legal issues. Governments will gradually embrace the crypto revolution and usher in an increased demand for it.

crypto dip
Credit: BlockData

What Next?

Like similar crypto dip scenarios in the past, it’s advisable to hold your tokens patiently like the famous saying in crypto “If you can’t hold, You can’t get rich” As long as you’re holding a token with value, It will come back and even exceed its value with time.

If you still have some extra cash lying fallow, you can consider buying some tokens with it. Many of these tokens are dirt cheap now so consider it as a discount buy that will give you better returns with time. Some of these tokens can literally give you more than 500% returns. That’s the magic of crypto! You can consider checking out our posts about some hidden gems with great returns.

Finally, you can also earn some decent money during this dip by investing in quality token sales. Yes some good quality tokens bought at presale price can fetch you some decent returns. You can check out our list of promising Token sales. Remember to always carry out diligent research before investing your money in any crypto project.

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