When it comes to cryptocurrencies and their investment, there are two different schools of thought around that. There are those who are severely against the idea of decentralization and can’t bear the thought of it. It is considered a vile mode of investment and something that will drop dead the very next day or, if not in that order, then surely after a week or a month. Then we have the pro-crypto; these are the people who believe that cryptocurrencies are here to stay, and Bitcoin, for instance, is the digital gold.
These people believe that not only do cryptocurrencies have the potential to last through human civilization, but they are the very update our crippled financial system requires to move forward into the future. If we take 2021 into account, then there are 37 times when someone has said that Bitcoin will drop dead. This or the scepticism tone producing statements like Bitcoin is going to fade away, it is a Ponzi scheme, or it is just not that lucrative of an investment model. In 2020, on the other hand, the usual statements were not that repetitive; it was maybe said a total of 14 times that Bitcoin is dead, but 2021 has seen a surge in the number of those who are really sceptical around the idea of decentralization.
Bitcoin’s Diverse Community
Experts, on the other hand, also seem to be biased around this parameter for Bitcoin. They are definitely taking sides, and this is not something that is a very healthy or nurturing environment for our financial world. The run of the mill thing is that when the price of Bitcoin starts to plummet, and whales start liquidating their assets, and panic sets into the market, news around Bitcoin being a hoax start to be spun around like crazy.
On the other hand, when markets are stable and Bitcoin is making huge price leaps and returns, you will see the pro-crypto side of people come out, and they are rooting for Bitcoin and even investing in the digital asset. This two-sided sword thing needs to stop, or otherwise, there will be absolute panic not only in the crypto market but in the global markets as well.