Dr. Niwet Hemwachirawarakorn, quality stock investor Commented on the website of Thailand Value Investors Association on the topic of the end of crypto coins?
The article discusses cryptocurrencies and the Metaverse virtual world, where the current situation is considered to be in a bear market. Coins from various projects and platforms have also been falling in price according to market conditions, leading many to think that the crypto world. Maybe I won’t go back or not? It started with the massive collapse of the Terra blockchain last May. Chasing a long time, plus the Fed’s interest rate hike conditions, the Russian war invaded Ukraine. And most recently, the bankruptcy of hedge fund giant Three Arrow Capital (3AC) and lending platform Celsius Network, all of which happened around the same time during a bear market.
In the post, Dr Niwet revealed that “young people” almost all over the world are investing and involved in innovations using blockchain technology that are revolutionizing almost every aspect of the world. This includes works of art such as “NFT” for sale to art enthusiasts, or the production of “virtual land” for sale to “fans” who may want to buy for speculation or invest in “business”. Need a “virtual storefront” to sell items in the Metaverse world.
In addition, Dr. Niwet revealed the trend of crypto coins. that appears to be the result of the spread of COVID-19 that makes the whole world right “Stay at home” requires working and living mainly via the Internet. This leaves plenty of time to invest the money that may be received from the government or the almost zero interest savings. And people may start to see that crypto coins is growing very quickly due to its limited availability. And there are more famous people to pay attention to. The price went from about $9,000-10,000 to $340,000 in just a few months, and when Elon Musk joined in. The price then went up to $60,000 in just 5-6 months before hitting a high of $67,000 in late 2021.
However, when entering the bear market of the crypto world Together with the world economic and financial situation is changing completely. Global money has also decreased. Asset prices that used to skyrocket have dropped dramatically. And not just with cryptocurrencies, stocks, especially digital ones, have fallen sharply by more than 30% for crypto itself. Just a few weeks ago, Bitcoin dropped to the $17,000 level, its biggest hit since the last halving in 2017, while Ethereum, the baseline of other coins, dropped from the late 4,000 to just over the hundreds of dollars. Only, or fell 80% in the same time as Bitcoin.
In the post, Dr. Niwet also commented on the many scams and collapses that have happened recently. And even more frightening is that Dr. Niwet revealed that crypto will change the world. Or people will turn to buy art like NFT, it may be “over” than reality.
By Dr. Niwet talked about the experiences found in the digital world. that whatever if it’s true It happens very quickly. For example, social media spreads very quickly after innovation. But in the case of crypto coins Innovation has been going on for decades, but in practice Today it is almost invisible.
Therefore, it is possible that The trend and rise of crypto over the past two years has It may be the subject of extreme speculation in society. And now it’s the “end” period where prices may continue to fall or not come back for a long time as the interest in these matters fades. Of course, blockchain technology is still alive and well. But people are only used to solving certain problems that are appropriate. Which is not about money or art that the original is good enough.
Source: Facebook Page: Money Chat