9 Reasons the Crypto Market Is Down

Cryptocurrency It isn’t as bad as you think. Image credit: Busakorn Pongparnit | Getty Images Scott McGovern Contributor Founder of crypto site Blocklr & Growth Nuts, an organic growth co. February 15, 2019 8 min read Opinions expressed by Entrepreneur contributors are their own. Bring up cryptocurrency today, and you are likely to hear that the crypto market is down. People have finally realized that cryptocurrency has no real value — or so the argument goes.Without going into the tenuous value of other assets, the fact that crypto isn’t backed by anything is not the real reason for today’s bear market. Instead, the crypto market is facing significant growing pains, coupled with a public opinion crisis. But when cryptocurrency entrepreneurs, investors and regulators address the following nine factors, you can expect a major market shift.Related: The Murky World of Cryptocurrency1. Making money in the crypto market is less straight forward than it used to be.Early cryptocurrency adopters either capitalized on ICOs (Initial Coin Offerings) by getting in early and getting out, mining and holding cryptocurrency for long periods of time or by day trading.In today’s investment climate, none of these approaches are sure to make you a fortune. Bitcoin mining has become more difficult and more competitive, meaning that the hash rate required to mine isn’t always worth the electricity bill.The SEC (Securities and Exchange Commission) has turned its attention toward prosecuting fraudulent ICOs and crafting regulations. Across the board, ICOs have received criticism for serving as a means of fundraising without giving investors anything significant in return. Of course, there are also a lot of legitimate ICOs, though these receive less media attention.And day trading is much more difficult in a bear market, especially one as unpredictable as the one we’re currently in.This isn’t to say that there isn’t another wave of
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