Today the stock market is experiencing not the best times. First and foremost, the cryptocurrency Bitcoin has caused many to believe in the concept of decentralized coins, and the technology has attracted technology enthusiasts. However, you cannot deny good luck to those who managed to invest at the right time. Today Bitcoin is entirely surrounded by bears. According to Forbes, there are at least 3 reasons why the cryptocurrency has not received mass adoption.
In the first place, blame the lack of trust. Says a senior analyst investing.com Clement Thibault, ironically the main issue “bestoverall” currency is just the lack of trust.
Most people don’t understand the digital currency and make inferences only by strong fluctuations of Bitcoin prices. This creates a negative environment as regards the adoption of cryptocurrencies.
Another reason for such a skeptical attitude to Bitcoin is exaggerated statistics fraudulent ICO. As says the founder and CEO of PCG Advisory Group Jeff Ramson, the biggest problem of Bitcoin is that the masses unfairly associate it with ICO. However, a large number of break-ins and incidents legitimately formed fear of cryptocurrency. Similar opinion is shared by Executive Vice President Krypti Steve Russo.
Bitcoin is not able to withstand theft and break-ins, whose number is constantly growing. Now it is happening daily.
The experts agree that one of the main reasons for the failure of Bitcoin is the need to continually move between Fiat and cryptocurrencies. According to the report LendEDU, from 2016 to 2018, the number of complaints about virtual currency grew by 17 thousand percent. First users complain about delayed transactions.
More data look at cryptodata. And the current rate of coins can be found in our classroom ranking of cryptocurrencies.
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