Can Crypto go to zero?
With the rapid ups and downs going on in the crypto market, it has triggered a serious concern for investors. Some are considering crypto coins as Tech bubbles. But everyone is concerned about what if or can cryptocurrencies reach down to be valued zero after being in the financial market for more than 12 years.
Here we are going to discuss if there exists a possibility where crypto coins will reach zero?
Extremely Volatile Market
There is absolutely no doubt that from the beginning of its inception Bitcoin and other digital currencies have been extremely volatile. Within a day, the price of a single bitcoin or such other cryptocurrencies can become tremendously random. Cryptocurrencies are limited in amount and have been created as a form of replacement for other fiat currencies. But keeping in mind all that sharp criticisms and speculations, digital currencies still have a future ahead of themselves.
Growing demand of blockchain technology
The underlying technology behind every cryptocurrency is blockchains. And blockchain technology has already created a huge impact after coming into play. There are already many projects developers and programmers have created solely based upon blockchain, and they are continuing to develop them even further. One can say that these cryptocurrencies are not under any kind of authority or no one is controlling these tokens, but that is precisely the idea behind creating and developing these digital currencies. Now coming back to blockchains, one of the most foolproof features of blockchain is that once any kind of data or record has been entered into the blockchain, it cannot be erased or deleted. As a technology for creating the currency, blockchain is loftier. It is just a matter of time to see how crypto coins are regulated.
An occurrence for crypto to hit zero
Investing in crypto is no doubt risky, but it will be idiotic to think that Crypto cannot hit zero. In the last few months, the price surge in the crypto market was due to the big corporations such as Microsoft, JP Morgan and several other Wall Street Hedge Funds taking an interest in different cryptocurrencies and acquiring them in bulk, but then the market slowed down and right now it is not in a good position. Experts also suggest that if a better version of Bitcoin arrives in the market, then the Price of Bitcoin can certainly hit zero. People may actually lose their interest in cryptocurrencies.
Whether the crypto market becomes void will undoubtedly depend on the technology people are using and their interests. But it isn’t going away soon because of the blockchain technology. The core of these cryptocurrencies are blockchain, and developers are using blockchain technology to create applications and software. So it is highly unlikely that cryptocurrencies will become void.