Recommended Watch: Cryptocurrency crash causes trillions of dollars worth of damage | 60 Minutes Australia
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It's the oldest saying in the book: What goes up must come down. In the volatile world of cryptocurrency, that's proving to be a brutal truth. Crypto's market value has halved since its peak late last year, haemorrhaging an eye watering $2.2 trillion. And it's not just crypto geeks whose dreams have been shattered, but also ordinary mum and dad investors sucked in by the hype the currency had gone mainstream. However, while many millionaires have become overnight paupers, cryptocurrency's true believers say don't worry, the good times will return. The question is: Who's brave enough to believe them?
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Francisco Gimeno - BC Analyst This Australian program always bring the polemic upfront. And this is a good one. Crypto bearish market has ruined or at least hit many retail investors. Many crypto related start ups are in trouble. And so on. And this is becoming like the story of the naked king. He thought he was richly adorned with the best clothes and nobody dared to tell him he was naked until an innocent child said it. Then everybody could speak and the truth came out even if everybody knew it beforehand. With crypto is the same. We have stated here several times how we believe crypto in the present iteration is not what it should be. There are many altcoins without any fundament, many others are just meme coins, even scams. Only when the house of cards come down we can build a better crypto landscape with real digital assets which respond to the real needs of the digital finance. Meanwhile, crypto is highly speculative and investment always a risk.