The collapse in cryptocurrencies that we had mentioned in the preceding week (link: http://ow.ly/U9va30i9ufZ) has already obliterated about $500 billion from the market, and as a result, everything in the digital coin world becomes a lot inferior by the day-going, according to Goldman Sachs Group.
Most digital currencies are endeavouring hard to survive at their stance; however, investors prepare to replace their coins to the current currency’s value, Goldman’s reporter said. He had posted the details on the website, wherein a timeframe of this loss not mentioned over there.
The reporter said, “The similarity among the different cryptocurrencies bugs me and due to the reduction of inherent value, the digital coins’ value would likely to reach null.”
Today’s digital coins do not have the power of staying for so long because of the least transaction, protection requests and high support charges, the reporter added.
He added, “No leading cryptocurrencies had yet reached a top position similar to Amazon or Google did. It also does not mean that the cryptocurrency figures will increase due to the huge number of survivors.”
He was optimistic about the blockchain technology that holds digital currencies, assuming it could assist enhancing financial records. He also sounds a bit doubtful, claiming that the technology doesn’t yet have a speed of market transactions.
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