What Would Happen to Crypto Tech in a Global Market Meltdown?

Many cryptocurrency investors and enthusiasts have been wondering what exactly would happen if there was a global market meltdown in the cryptocurrency markets, well actually these sorts of things have been happening for a long time now, tons of cryptocurrency meltdowns and FOMO’d events have been happening across the markets for a very long time and hence have given us a lot of good indicators as what will happen.

First, prices will crash and will cause a lot of panic

Prices in the Bitcoin, Litecoin and Ethereum markets declined drastically during the numerous Korea fuds on Binance coins that happened in 2017 when the Bitcoin and Crypto markets have been pushing through the sky in terms of valuation. When this occurs, this tends to cause a panic that causes prices to suddenly dump and crash, leading to the events like the Korea FUD, the Hong Kong FUD and the Bogdanoff Affair that led to huge price crashes in a single day, due to the nature of cryptocurrencies the sudden drop in prices caused a massive panic that shook the cryptocurrency market that cost millions to thousands of consumers and investors alike.

Second, prices will begin to recover due to the lowered price increasing demand and will draw investors in

Prices will begin to recover as the demand of the cryptocurrency will soar as the increasing demand in correspondence with the lowered price causes investors to start piling into the market. The ever-increasing valuation of the cryptocurrency causes the cryptocurrency to regain the lost momentum and surge forward.

Third, long term the coin either reveals itself to be a bubble or a legitimate product

The coin either shows itself to be a bubble or a real coin, nothing else will need to be said after this.

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The Difference between Bitcoin and Blockchain Technologies

Those who are without – having little or no knowledge about cryptocurrencies – will seldom think Bitcoin and Blockchain are the same. However, the two terms may be synonymous to cryptocurrencies but they have some dissimilarities [between these two technologies] that set them apart.

Before I proceed further; I will like to define the two terms – Bitcoin and Blockchain.

Bitcoin is a digital currency that can be used as a medium of exchange in a peer-to-peer network. It permits the transaction between users without the intervention of any intermediary. Though a digital currency, Bitcoin can be traded and used to pay for goods and services rendered by a couple of merchants accept that such (means of payment).

Blockchain, on the other hand, is a distributed ledger unto which the digital transactions taking place in a peer-to-peer network are recorded. It is usually generated when there is a repeated grouping of freshly sanctioned transactions into block.

I shall now touch on some of the differences between the two technologies under the following headings:

Function

Blockchain is a much more substantive technology in that it covers a whole lot more than just cryptocurrencies. Technologists have etched out means of utilizing Blockchain in other far-reaching ways as majorly observable in the financial market. Again, it is safe to say that there wouldn’t have been Bitcoin without Blockchain. And Bitcoin is just what it is – a digital currency.

Operation

While Blockchain is operated as a distributed ledger – a platform in itself – which shows encrypted transaction that has been verified by ‘miners’; Bitcoin technology is a decentralized payment system used in peer-to-peer digital setting.

Security

The fact that Bitcoin technology allows transactions to take place without the users (that is, the ones carrying out the transactions) being traceable has often left people with some doubts on how secure the system is. Blockchain technology has however been found to be a more transparent one as it is traceable and does not give room for any form of illicit alterations.

There’s more to say about Bitcoin and Blockchain technologies but it’s really cool to leave it short and simple. You can, however, visit https://trulycoin.com to find out more.…

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