Crypto & BlockChain Technology is Too Big to Fail Long-Term
I asked somebody a couple of days ago that if one is looking into investing in crypto this period what will be the best coin to buy? and he replied very fast Bitcoin. Bitcoin is security. I'm sure you've heard that so many times. when we see the bear market we realise that so many projects are tapping out.
So many projects have failed because of many reasons. The whole crypto market capitalisation reduced from about 3 Trillion to below the $1 Trillion mark. It is crazy because not many predicted it or should I say no one predicted it. because if someone did, I'm sure that person will be up by a million gains using leverage trading and that's the beauty of the whole thing.
It Is so bad. and if we should be talking about recovery, not all projects will stay the same.
In my last post, I talked about how important it is for us to build on the Hive and how upcoming web3 projects would be important during this period.
Hive has been doing well price wise compared to Bitcoin. We can see some percentage increase in today's market which makes the fear index come down a bit. yes, we all know that many whales would be happy to get bitcoin below the $ 20,000 Mark. Truth is, are we sure of anything? many predicted bitcoin coming down to as low as $10,000 levels which is still possible, however, I don't see that happening.
This blog explained why we need to focus on building and ignore of FuDsters. We can see that not many projects are going to survive and we are lucky to have something that works. We have a system that works hive work.
HBD Vs Other Stablecoins
When Bitcoin started a slow recovery from the $19,000 levels, we saw a lot of coins following off. but just like the image depicted below, we can see something fishy going on with TRX!
Just a month after TerraUSD lost its peg against the US dollar and crashed the global crypto markets, another stable coin threatened to repeat the story once again this month. Source
TRX was struggling or still having a downtrend and as many people that follow the situation, you will know TRX helps the somewhat establish coin stable, and it recently almost got pulled away, similar to the LUNA and UST situation.
A 2 billion investment help to somewhat stable the price of USD, but for how long!
how long can it last when there is a CEO or somebody that controls how this works?
when I could take a look at this situation critically, I realised how fortunate we are to have HBD which is backed by a hive.
So it may not be clear to the world yet but we have a system that works and the system is still growing we are the builders and we are also the ones that would benefit from it.
so we can all keep growing and keep it at the back of our minds that crypto and blockchain technology is Too Big to Fail!
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