Bitcoin is still at low levels. – Over the past few months, two-thirds of the value of the cryptocurrency market has evaporated – Dr. Maciej Kawiki, head of Poland’s Stanislaw Lim Institute for the Future, said on TVN24’s TalkGuest. According to Sylwia Czubkowska, this is not the end of bitcoin. This is the end of a certain cycle of investing and the stock market, said the editor of Spider’s Web + magazine.
– Bitcoin It was created as a payment instrument independent of the banking system, among other things, to combat inflation. Today, reality has shown that this is not the case – Dr. Maciej Kawiki, head of the Polish Future Institute said on TVN24 “Take Guest” on TVN24. S. Lem, Vice-Chancellor of WSB University in Warsaw.
In recent weeks, we have seen clear weakness in Bitcoin. On Saturday, its value fell below 20,000. For the first time since December 2020. Currently, it slightly exceeds the level of 21 thousand. dollar. Bitcoin is more than half cheaper than it was at the beginning of the year.
Kawecki noted that the global cryptocurrency market capitalization has fallen by nearly two-thirds in recent months. In November, it was said that the market capitalization of cryptocurrencies was $3 trillion, and today, less than six months later, we are talking about less than a trillion dollars. Two-thirds of the value of cryptocurrencies has evaporated – TVN24 guest said.
“It doesn’t mean that any financial instrument is completely separate from the market,” Seluya Kzubkovska, editor-in-chief of Spider’s Web+ noted. – even digital currencies, Cryptocurrency It is also related to other financial instruments and the prevailing situation in the markets, she said.
As pointed out by Czubkowska, other countries, including United StateI decided it was time to start organizing this market. Various stories happen, many of them semi-criminal, so when the US regulators announced that they would start checking and verifying, it turned out that this was one of the reasons why this discount on Bitcoin and others started. Cryptocurrencies, then there were more problems – she said.
Is this the end of cryptocurrency?
According to Siluya Kzubkovska, “This is not the end of these coins.” This is the end of a certain investment cycle. And the stock market, and perhaps also cryptocurrency – she said.
In her view, “those who invest in cryptocurrencies on a steady decline are losing today, but those who invest today may gain, (though) not necessarily at the high levels they are used to or expected.” Czubkowska noted that “Not only is the cryptocurrency going down, the tech market is going down.”
Maciej Kawecki said he answered the question regarding Bitcoin Edward Snowden, a former assistant at the US Homeland Security Agency. – Saying that he does not fear the disappearance of cryptocurrencies because they respond to a certain social need, but fears that they will lose their primary goal, which is to stimulate the technology sector, to become just a financial tool – TVN24 guest conveyed his words.
At the same time, he noted, “We already have examples of cryptocurrency crashes.” – An example is the fall of Luna. Kawki pointed out that everyone who invested in it lost and evaporated more than 40 billion dollars.
Main image source: tvn24
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