Challenges stimulate progress. Technology, like life itself, cannot be static. Only dynamics stimulate positive changes. Amid the cryptocurrency market crash in mid-May, many retail and institutional investors began to lose faith in the bright future of cryptocurrencies in general and (BTC) In particular. Corporations and institutions, whales, and early adopters converged on a single impulse: The internet was overwhelmed by a wave of mistrust of “number one cryptocurrency” as the best defensive asset, superior to gold and everything else ever invented. before.
One needs to see the whole picture here to realize what is happening. The last time the market suffered more or less comparable and significant losses was a year ago, in March 2020. This year, panic sales triggered by a series of negative events – Elon Musk’s Twitter crusade against BTC, the rumored court case against Binance and the latest crackdown on cryptocurrencies from the Chinese government: Recall the tremendous collapse of digital assets at the peak of many asset rates in December 2017 and the subsequent “crypto winter.”
Gregory klumov is a stablecoin expert whose ideas and opinions appear regularly in numerous international publications. He is the founder and CEO of Stasis, a technology provider that issues the most widely used euro-backed stablecoins with a high standard of transparency in the digital asset industry.
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