Crypto Crash 2022 | Could Bitcoin Fall into a Black Hole?

Bitcoin has been on a rapid ascent this year. This is not the first time Bitcoin has experienced rapid growth, nor is it likely to be the last. However, that doesn’t mean other factors won’t conspire to create instability in the market and threaten bitcoin’s future in some big way. On the face of it, Bitcoin is a very successful cryptocurrency. It has been designed to function as a digital currency and does so well enough to put many of its competitors out of business. However, stability for the digital currency is not necessarily a given. In fact, it seems likely that Bitcoin’s growth will continue to be stymied by the fact that its biggest advocates are the least likely to benefit from it, those in the criminal community.

The Cryptocurrency Ecosystem Today

For digital currencies to survive and thrive, they have a big community behind them. That community can be composed of diverse groups or a single group united by common interests or goals. The bigger the community behind a cryptocurrency, the more likely it is to succeed in fulfilling its goals. Right now, those behind Bitcoin are largely big businesses and the criminal community. Big business sees Bitcoin as a reliable way to transfer funds in and out of countries where they aren’t welcome, and the criminal community relies on their ill-gotten gains to help fuel these transactions. The criminal community is also instrumental in helping to keep Bitcoin prices artificially high by hoarding the currency. These communities have a lot of power over the price and wealth of Bitcoin, which makes them very much interested in keeping it stable.

Bitcoin is not the only cryptocurrency that creates stability for its users, though. Litecoin also has a criminal community which is known as “the other dark web,” and consists mainly of drug dealers and other criminals. The purpose of this network is to keep Litecoin prices high so as to keep competing cryptocurrencies out of the market. Bitindex Prime is a perfect site for those who want to learn more about bitcoin trading or investment.

Crisis State: A Rollercoaster-Ride That No One Asked For:

When Bitcoin first started gaining traction in the early 2010s, there was much talk about its price being at a “tipping point,” with it soon reaching a dizzying all-time high. The idea was that the cryptocurrency had finally gotten big enough to capture the attention of big businesses, who would then start buying up large amounts of it for their own use and use it as a form of currency. The idea was that this would cause Bitcoin’s price to rise even further and make regulators sit up and take notice. Big businesses were still pretty skeptical about digital currencies for a long time after the euphoria had worn off and were much more interested in filling their pockets than giving Bitcoin a fair shake. This meant that when Bitcoin’s price hit its peak, there weren’t many people investing in it because they knew that the profits would be slim to none. As a result, Bitcoin’s price stagnated for a long time.

This resulted in many in the cryptocurrency community believing that it is artificial and that it has no real value. This mindset makes a lot of people believe that Bitcoin’s price will fall as soon as big businesses start to invest heavily again. Unfortunately, this hasn’t necessarily come to pass. Some big businesses have invested in Bitcoin, but the number of corporations who invest heavily in Bitcoin is still pretty small. Also, the stability that the criminal community brings to the digital currency has actually turned it into a bit of a safe haven for criminals.

The War Is Not Over: There Might Be Some Upcoming Dips:

The criminal community has been very much opposed to Bitcoin’s growth, and it has been working behind the scenes to find ways to slow or stop it. Their attitude toward Bitcoin is a little bit like the attitude of central banks toward gold. They see that Bitcoin is safe and durable, so they preserve it to use in their own nefarious activities. The problem is that it is not actually as safe and durable as big businesses or central banks expect it to be. In fact, the very fact that Bitcoin is so widely used by criminals has been a major factor in the cryptocurrency’s poor standing in the eyes of regulators, who treat it with suspicion. As a result, there are a lot of people in positions of power who are actively trying to stop Bitcoin from gaining any more traction.

Conclusion:

Right now, the price of Bitcoin is only bolstered by the interest of big businesses and the criminal community. That could change if something happened to either group. If big businesses stop seeing the utility of Bitcoin, then it is unlikely that they’ll keep purchasing it. On the other hand, if the criminal community decides that Bitcoin isn’t safe anymore, then they’re likely to hoard it for as long as possible before switching to something else. For now, though, Bitcoin’s price is rising again, and that could mean a lot of good things for the cryptocurrency’s future.