Over the last several years, cryptocurrencies have taken center stage in the financial industry as a disrupting technology that is poised to re-define the way we think about value and the exchange of it.
As of the time of writing, Bitcoin just started coming down in value after a steady climb. This drop was caused by several things.
One of them being President Donald Trump’s comments on cryptocurrencies. But this drop in value was not unforeseen. Due the the nature of Bitcoin, volatility will always be a part of it.https://cointelegraph.com/news/trump-tweets-crypto-rant-what-is-the-bitcoin-reference-really-about
“There are many regulatory and supervisory questions regarding libra, virtual assets, and virtual currencies. Cryptocurrencies such as bitcoin have been exploited to support billions of dollars of illicit activity like cybercrime, tax evasion, exortion, ransomware, illicit drugs, and human trafficking. Many players have attempted to use cryptocurrencies to fund their malign behavior. This is indeed a national security issue.”https://cointelegraph.com/news/bitcoin-below-10-000-down-266-in-7-days-what-caused-the-pullback
As we know, sentiments like these driven by fear of change does affect the value of the crypto-currencies as they are in the early stages of global acceptance.
Whatever the powers that be do, this is simple a value proposition that is too big to be ignored by the financial institutions and Governments. The sooner they get on board, the sooner they remove themselves from potential extinction.