Sa ngayon tayo ay nakakaranas na naman ng pagbaba sa merkado ng cryptocurrency. Marami ang haka-haka sa mga kadahilanan nito pero sa nakikita ko lahat ng ito ay naka base sa pagbaba ng paniniwala ng marami sa halaga ng cryptocurrency at sa kanyang magiging kinabukasan. Things will eventually boil down to the trust and confidence of the market -- we are talking of the people here the investors and the holders -- bestowed on cryptocurrency. After last year heavy speculation and the eventual crash, many people are now asking if it is really worth it storing their wealth in Bitcoin and other cryptocurrencies. When they see that a simple announcement from the government do affect the value of cryptocurrency, people are realizing that actually cryptocurrency is not truly independent from the government and that we are not yet actually enjoying the benefits of decentralization. Of course, there will always be many analysis on this matter but there is no denying that the confidence in the market is crashing. Let's wait for the reasons when this confidence will be bullish...and hopefully that can happen soon.
In general the whole crypto market is down. We have seen a lot of ups and down, a bloodbath, some other say wrath of god coming unto crypto. But i believe that time will come that market will boost again. A lot of panic sellers now, whales are dictating the market. But i read an article saying that the Philippines digital currency space is on a steady and healthy rise with cryptocurrency conversion nearing $40 million per month, data from the Bangko Sentral ng Pilipinas (BSP), the country's central bank showed, reports Business World. Well if this real it means that there is still a lot of Filipinos believing in blockchain technology. But as you say lets just hope that this bear market will end soon and lets meet at the end of rainbow with a pot of gold.
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