Cryptocurrencies has been in a very devastating mood for some time now and most investors are not happy with this condition. Some were even forced to sell off their holdings just to get their capital back.
However, there are some things we should have at the back of our mind. The CEO of eToro, Yoni Assia thinks that those who sell off their assets now are not worthy to be this game. He concluded by saying “selling off part of your portfolio now is equivalent to selling apple stock back in 2001”
All cryptocurrencies in this period has seen a loss from 40% to 65%. That’s an enough reason for speculators, newcomers and permanent to sell off their holdings. Just like we have seen in the past years, the price of Bitcoin normally swings towards the end of the year, what will then be the fate of those who sold off their holdings Now? “Regrets”
The eToro CEO also said that not all cryptocurrencies would survive the trend in the industry now, most of them would disappear into thin air, sooner or later but the stronger one’s in the likes of Bitcoin, ethereum, Litecoin and Bitcoincash will still remain.
Following the large amount of money that was raised in ICO’s, it is only natural to expect the vast majority of them to ultimately fail or only partially deliver on their initial promises. The elimination process has already started and it will serve as a stepping stone to allow projects with real-life solutions and true vision to survive this moment.
All of what is happening now seems to revolve around the fact that the future of cryptocurrency is still bright.