I am a big believer in blockchain and crypto and it's potential to revolutionise many aspects of daily life. But has the FUD, infighting, dramatic increase in the number and volume of pointless currencies, and attempts by large institutions to control the industry, ultimately led to the prolonged bearish market we have seen since December? If this continues, could the next big scandal lead to a catastrophic effect, that could have an irreversible decline?
I don't think that it is broken or going to break at any edge Because in these days many people are entering in this field with blind eye to make money and they don't want understand the system that how it works and what they need to make money .
Surely it is a type of the Rumour that is having a small time impact over the mind of the newbies , Because newbies are those people in this field who have no patience and have lots of fear in Thier mind and with samkk negative news they sell Thier coins and even they don't see toward that they will make profit or not at panic sell , and such type of panic sell results into loss and dump of market .
So it is a temporary fault of newbies only that is dump going on , otherwise it is much better thing to handle and make lots of profit and also here we should take in our mind that big dump and big pump are good thing to make profit in this field .
For me, I do not think that the cryptocurrency market be broken in this current situation because this is just a mere adjustment on bitcoin and the other currencies. FUD and bad news from media news really is part of the down trend of the cryptocurrency market. With this, as much as possible these FUD and negative news should not be given more importance such that the people may not feel depressed and panic resulting for them to sell their coins at a much lesser value. It should be on the opposite where people should decide in buying crypto coins because the price value is much cheaper in the current market and hold their coins until it will hit the awaited bounce especially for btc.