The fall of cryptocurrency was quite predictable and expected. After the classic pump & dump, which occurred in December 2017, the entire HYIP ended and interest in the subject began to fade. Today, it is almost impossible to find investors who are willing to risk their capital to invest in a crypt of money. And since there is no demand for a product, the price gradually decreases. The classic law of supply and demand. So, the winter in the cryptocurrency market has begun and promises to be protracted.
What do bitcoin owners do? Sorry, just wait. From speculators, they turned into long-term investors. Cryptocurrency growth will resume when institutional investors (banks, investment houses, pension funds, etc.) start investing in it. And this will happen when the cryptocurrencygets jurisdiction and becomes a legitimate tool for investment. Then again there will be a demand and pseudo-investors who have “stuck” with the crypt will be able to return some of their funds.
When will the rise in demand for cryptocurrencies and value increase happen? According to my predictions, not soon. All my adult life I have been working with large investors and understand their psychology very well. Greed and cowardice in investments are good traits that help investors survive and preserve their capital for centuries (an example of the Rothschild family). So wait, gentlemen. The world belongs to the patient.
Speaker – Igor Faynman, Independent Financial Advisor
Parable for investors
And about Bitcoin, I recall one parable that I told my investors a year ago: “Once a merchant appeared in the village and announced to the residents that he would buy monkeys from them for $ 10. The villagers, seeing how many monkeys in the jungle, abandoned their plots and began to catch them. The merchant bought thousands of monkeys for $ 10, but the number of monkeys began to decrease and it became increasingly difficult to catch them.
Then the merchant raised the reward for capturing each monkey to $ 20. And people began to catch monkeys again. Soon there was very little food in the village, and the villagers began to slowly return to their fields. The merchant raised the price to $ 50. However, he needed to drive off to the city on business, and he left an assistant in his place.
An assistant gathered all the villagers and offered them a deal: “Look at all these cages with thousands of monkeys that you have already caught. I am ready to give them only $ 35 dollars to you, and when the merchant returns, you will sell them to him for $ 50 apiece! ”
The villagers thought, considered, then collected all their savings, collected debts and bought all the monkeys for $ 700 billion. After that, they never saw the merchant with an assistant. But they still have large debts and completely unnecessary monkeys.
So it happened. Unfortunately….