Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => XRP - Ripple Forum => Topic started by: PRIBO247 on December 17, 2018, 10:44:42 AM
-
The current bearish condition in the crypto space has left a lot
of suspense in the minds of all crypto users, investors, and
enthusiasts. Millions of dollars have gone down the drain in a
little space of time. One is left wondering if the digital currency
space would rise again from this huge fall.
As we view and analyze the fall in the prices of cryptocurrency,
it is important to also look critically at the environmental
forces hitting down the market.
THE PRESS
All eyes seem to be focused on the crypto markets , the press
scratch everywhere to source news about the digital currency,
giving a very cynical impression. All the attention which was
formerly given to politics and entertainment are now diverted
to the crypto space. So many financial experts have made
negative statements about bitcoin and other cryptos.
Jamie Dimon, JP Morgan boss, once said that bitcoin is a fraud
and it is not going to work, going as far as setting rules against
bitcoin investment in his company.
UNACCEPTANCE
Cryptocurrency is a product of an emerging technology,
blockchain, there is a skeptical approach in the use of an
investment in the crypto space. Major Institutions in both
private and public sectors find it very difficult to adapt to the
use of cryptocurrencies. Most of them have adopted a kind of
sit on the fence approach watching what would become of the
cryptos.
NO REGULATIONS
There is no firm hold on the control of the cryptocurrency by
the financial regulators like the International Monetary Funds,
IMF and the Central Banks. The security of financial wealth
being reserved in digital currency is still in question.
Ripple Inc. seems to have made the analysis of all these
challenges and decided to profer solutions, mostly in the area
of institutional adoption as stated by Ripple CEO, Brad
Garlinghouse in his recent interview with Bloomberg. This
involves government, financial institutions, regulatory
authorities and big multinational companies accepting
cryptocurrency.
Ripple is laying a good example signing on a lot of banks and
other financial institutions to its network. It focuses on
developing decentralized financial tools to ease cross-border
payment processing. Stability in the crypto space is likely to
occur if the government would heed Ripple’s call for
institutional adoption .
Source: https://zycrypto.com/