Ethereum, the second largest cryptocurrency by market cap, was hit hard by the recent downturn. The reasons are many. However, one of them is the bear market that started in late 2017 and has continued ever since. The crash of 2017 left many people wondering if this would be their year as well. Instead of waiting for a rebound in prices, they’re looking out for any opportunity to cash in on an upturn. If you’ve been watching the possibilities with excitement, you might be feeling fear right now. But we don’t have to wait until prices bounce back to know that blockchain technology is here to stay. Investments into blockchain companies are already booming and continue to grow exponentially every day. This means there is plenty of potential for huge gains — even if the price fluctuates a lot from month to month or year to year. Even if you’re not yet sure about where this whole blockchain craze is going, it’s still worth being cautious when other cryptocurrencies are plunging 24/7. Here are seven reasons why you should not be worried about Ethereum crashing right now:
Ethereum’s smart contracts make it the future of finance
Smart contracts are a feature that will only become more important as more industries use blockchain technology. They allow for automated transactions and provide an efficient and secure method of agreeing upon future outcomes. This is especially important in the financial sector, where fraud and mistakes have led to high levels ofronexcel and fraud in other industries.
Ethereum is used in a variety of industries
As we mentioned above, blockchain is being used in a lot of different industries and is already being used in a variety of different areas. We can name a few of them off the top of our heads. Blockchain technology has the potential to revolutionize a wide range of industries and has already begun to do so.
Ethereum is already starting to see real-world use cases
We’ve already mentioned one example: smart city infrastructure. With the help of decentralized AI, a city’s infrastructure can be programmed to work only when demand for services is high and when resources such as electricity and internet services are available. This could help cities reduce their carbon footprint, provide better access to utilities for low-income residents, and improve public health.
There’s no way to effectively crash the market
Just because a market goes lower doesn’t mean that all is lost. It just means that more careful investors need to sell their coins before the price goes even lower. This is achieved by creating stop-loss orders. These are orders that require you to sell your coins at a certain price. If the price falls below that, you’re able to buy them back at the price you sold at. This method is meant to prevent you from losing too much money due to market dips.
The price collapse will not affect long-term viability
We mentioned this above, but it’s worth repeating: blockchain technology is here to stay. It’s already being implemented in a wide variety of industries and is not just a passing fad. This means that over time, the technology will grow more widespread and its adoption will increase.
Over the long term, Ethereum’s prospects are bright
We mentioned this above, but it’s worth repeating: no other cryptocurrency comes even close to Ethereum’s trading volumes and market cap. This means that investors are allocating a high amount of their financial capital to a technology that has a long way to go in order to achieve mainstream adoption. This is not something to worry about, especially when there are so many opportunities to make money with blockchain technology.
There’s no telling where this cryptocurrency market panic will head next. It’s easy to get excited about new investment opportunities and forget about your money when things start to tank. Don’t let this happen to you. Be careful with your investments and don’t fall for misleading reports. Stick to real-world assets like stocks and commodities, and avoid getting too involved in cryptocurrencies.