The loss of 600 billion dollars of capitalization is not a reason to consider the stock market dead. So says chief economic analyst at Allianz Mohamed El-Erian. The expert noted that the technology behind Bitcoin is here to stay and will only grow. This writes Bitcoinist.
Cryptocurrency is not going to disappear
According to al-Arian, Bitcoin is not affected by the correction in the fundamental plan. Moreover, in the future, the blockchain and the crypt has a wide acceptance all over the world.
Cryptocurrency is not dead. In the future we will see the rapid expansion of industry in private and public sector activities.
However, the development of crypts will not happen in one day.
Unfortunately, Bitcoin cannot begin to use immediately all over the world in one night. I think cryptocurrency is not exactly disappear and even will play a very important role in the global financial system.
Earlier, El-Erian called the level of $ 5,000 for Bitcoin best point to enter the stock market. Other experts also believe that now is the time to purchase the cryptocurrency. Let’s hope they’re right.
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