Since it’s first inception over a decade ago, crypto currency as a whole has always remained a bit of a niche topic as something that hadn’t been really understood or found the platform it needed in order to succeed, even now as it becomes more widely used across a number of different online services just like these betting sites that take advantage of crypto for example, there are only the fine few who really understand where the uses are. Despite this, there will always be some that recommend it as a sound investment – but is it too late to get involved in the crypto game, and has the best period of time past for the decentralized currencies?
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For some, including many experts, that answer is certainly a no – for the bigger coins like Bitcoin and Ethereum, the individual price has started to move out of the realm of a standard investment price for some with Bitcoin in particular currently sitting at $39,298 after reaching highs earlier this year of $60,000 a number of times following investment news and the potential for mainstream usage by Tesla – having pulled support for the coin due to environmental concerns which saw the price drop rapidly, and reinforcing the old volatility issue that crypto is well known for. Other warnings also come from the fact that the currencies hold no physical value, as they’re not able to use widely as ordinary currency, experts have long warned that the only value is perceived in the market, and with countries like China cracking down on mining and coin usage which makes up a huge part of the market, it could certainly have a longer-term impact.
For others, the answer is certainly a yes as the crypto market has still shown a lot of movement – the big target for this over the past year has been within Dogecoin which received some celebrity attention and endorsement. Initially launched back in 2013 to poke fun at the big coins and the smaller coins popping up hoping to reach the same heights as Bitcoin at the time, it remained irrelevant ever since, but starting in 2021 with a price of just $0.002, names like Elon Musk showing support helped bump the price up to a dizzying $0.70. Whilst it has since dropped to $0.34 as of writing this, it signalled a potential possibility to get involved in the crypto market for newcomers who missed out on the bitcoin wave as this had been somewhat heralded as Bitcoin 2.0 – and although it was unlikely to ever reach the same heights, those who were able to invest early certainly were able to come off the better for it.
All in all it’s tough to say, there’s still no mainstream usage, and negative connotations associated with crypto still hurt it as a whole – will it ever be as big as many would hope? Only time will tell.