Since the introduction of cryptocurrency in the trading market, it has gone ahead to face some rocky times which have led to some critics thinking that it is going to be short-lived and that there is no guaranteed future for the same. Besides all that, the trade has continued to prove people wrong because when there are clear signs of downfall, it goes right back at the top like nothing happened. That is to prove that it is hard to predict the cryptocurrency market, although there are apps like Bitcoin revolution which have recorded positive results on trading predictions.
The bottom line here is that there are factors which are either contributing to the growth or decline of cryptocurrency market, but only time will tell if the market itself will be able to accommodate all these factors and sail through like nothing is happening. In the meantime, the cryptocurrency market has been able to weather the storm and that is why this is a venture for only those who are willing to take risks, even when the future seems bleak or uncertain.
Factors affecting the growth of cryptocurrency market
The following are some of the factors affecting the growth of cryptocurrency market today;
- Political regulations and situations have the capability of affecting the growth of cryptocurrency market especially where sudden regulations that don’t favor the market are introduced like is the case for South Korea sometime back.
- The media. People can easily be manipulated by the media which is capable of instilling fear and panic even in not-so-serious events. Potential crypto investors can change their minds the last minute upon coming across some cryptic headline about the current market trend.
- Security uncertainties. A mistake in coding is capable of rendering a huge number of investors penniless, which can affect a market. This is why you are only supposed to invest in money you can afford to lose, or invest in several currencies.