Investment experts are claiming that the cryptocurrency crash is upon us and that it’s going to get much worse soon.
This will come as no surprise to many analysts. They’ve been warning people that cryptos have no real value for years. They believe that people will figure this out eventually, and that will lead to constant selling and zero buying. This would effectively reduce the value of the coin to zero. Now Goldman Sach’s Steve Strongin is saying the same thing. He believes that one the Bitcoin bubble bursts, it’ll burst hard.
According to Strongin, current cryptocurrencies are unsustainable. He says that they have slow transaction times, high transaction fees, security issues, and maintenance problems. Since nearly all Cryptos function the same, this is an issue with nearly all variations, not just Bitcoin.
Bitcoin spiked so hard in the last year because the raising price encouraged people to buy. They see it as an easy investment, free money. The problem then is that when the drop happens, the same buyers who made it spike are going to sell, making the drop fall even harder. Since its still too much of a hassle to actually use to pay for goods and services, people will jump ship as soon as the value drops.
While it’s an effective way to have a non-government regulated currency, the financial viability of Cryptos is doomed to fail. Invest carefully, preppers.