Bitcoin and cryptocurrencies are unstoppable – Charles Hoskinson
Those words are encouraging. Charles Hoskinson, founder of Cardano and co-founder of Ethereum, knows his stuff. In the market, cryptocurrencies knows how little he knows.
So there is no need to worry about the recently falling prices of virtual money. Despite the fact that the market is now experiencing a downward trend, Hoskinson argues that this is only a temporary inhibition of the dynamic development, which will take place soon. The creator of Cardano even predicts that in the future bitcoin will be worth up to 100 thousand US dollars.
Hoskinson’s tweet about bitcoins
On Twitter, Hoskinson shared with the world his assumptions about the reasons for the falling price. He blamed everything exclusively on media manipulations aimed at discrediting bitcoins. The FUD technique mentioned in the tweet is a well-known market strategy which consists in arousing fear, uncertainty and doubts as to the advantageous offers of competitors, thus depriving them of their customers and thus eliminating them from the market. Such media confusion is only a storm in a glass of water. The exaggerated, sometimes falsified, news is only aimed at discouraging investment in a given offer. Not only is there no need to listen to such reports, but it is worth buying bitcoins in spite of them. Since the competition already reaches for such a weapon, cryptocurrencies must be a really serious rival. In other words, digital currencies are extremely profitable for investors.
“Is the price of bitcoins falling? Remember, everyone, that once the FUD and price manipulation are gone, we will still have our global movement to change the world. We will see $10,000 for 1 BTC again and welcome $100,000 for 1 BTC. Cryptocurrencies are unstoppable. Cryptocurrencies are the future,” is the literal content of Hoskinson’s tweet.
Do cryptocurrencies really have the power to change the world?
Although bitcoins are still very susceptible to market speculation, their future is much more optimistic. Blockchain technology can already be considered a breakthrough. Blockchain, a chain of blocks in Polish, is an innovative transaction register system. It is similar in operation to P2P servers. Similarly to them, there is no single central point, but divides the stored data between the users’ computers. It is a completely open register of transactions, to which public access is not limited by anything. It is in the blockchain model that Cardano platform works, among others.
So before cryptocurrencies, for which the block chain was designed, an optimistic future is painted. What is behind the current not the best pass? At the moment, 1 BTC is worth a little over USD 7,200. You could already see drastic drops when one bitcoin wasn’t worth even $7,000. Analysts warn that the price may fall again. All this causes great caution against investing in cryptocurrencies. However, the bad market situation is an effect caused partly by the reports from China, which gave the bitcoins an open fight. So all in fact comes down to the media noise and susceptibility to speculation.
Soon prices may go up again and return to stable 10 thousand for 1 BTC, and even exceed this rate. The halving of bitcoins is coming up, which will take place in May 2020. It will bring inflation to a halt and thus increase the value of this digital currency.
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