Is Crypto Dead? Resilience and Innovation in the Crypto Realm

How the crypto market has survived up to 2024 is amazing, considering some previous crazy occurrences. The year 2022 was a tough one for the crypto community. In May, the third largest ecosystem in cryptocurrency, Terra, collapsed. About $50 billion in valuation was wiped out. Again, in November, FTX, one of the leading cryptocurrency exchange platforms, once valued at $32 billion, also collapsed. And by the end of 2022, Bitcoin’s value dropped below $20,000. Various crypto enthusiasts worldwide were affected by these events. Some lost nearly everything they had, which made them ask the question, is crypto dead already? 

Truly, the various concerns that have been expressed about cryptocurrencies are valid. However, there are no great innovations that didn’t face challenges. Cryptocurrencies face tough challenges, but we can’t disregard the market’s resilience, including its use in Live dealer casinos. Despite all the strict government rules and biases, some top people have against it, it is still standing tall.

In this casino news, we will provide our opinion on whether crypto is dead. We will give reasons for our answer. 

Questioning the future? ‘Is crypto dead? 

The simple answer is no, it is not dead. Crypto is miles away from being dead. 

Crypto, short for cryptocurrency, is a digital or virtual form of currency that uses cryptography for security and operates on decentralized networks, typically based on blockchain technology. Although many wonder if the currency is dead, here are a few reasons why we say is not.

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Governmental Response and Regulations

The sudden crypto boom in 2020 shook the finance sector worldwide. Many countries swung into action, kicking against its usage and preventing their citizens from using crypto coins. The reason for the swift action was because of its decentralized nature. 

These coins are not subject to the control of the government or financial corporations, thereby changing the narrative of how money flows. But now, the various sanctions have been lifted. Various countries are coming to terms with it. 

The United States President signed an executive order in 2022 urging the country’s Federal Reserve to research whether the central bank should jump in trend and create its digital currency. Other world leaders also came to terms with it, looking into various ways to regulate cryptocurrencies. This move further strengthens the industry.

The currency was also implemented in multiple industries and markets, like online casino gaming and casino games. Lots of folks have enjoyed crypto gaming as they feel safe about their bankrolls.

Blockchain Technology Strength

The technology behind cryptocurrency, which is blockchain, is solid. It is efficient, and its use cases are wide. It goes beyond the management and recording of transactions. If tapped into by the finance sector and many industries, including health, it will be a big game changer. 

Growing User Base, Transactions, and Innovation

We have about 420 million crypto users worldwide, with new users daily. The number of exchange platforms and businesses that accept crypto as a payment method has increased. Also, the total number of transactions across blockchains is now about 1 billion. All these won’t be if crypto is dead or moving towards being dead. Crypto continually improves, and new coins are arising, paving their way into millions of people’s hearts, including Teen Patti Live Dealer players. So, to reinstate it again, Crypto is not dead. 

Bull Run Is Near

The leading cryptocurrencies’ market value is still far from their all-time high, and the bear market is still in effect. It is all part of the pros and cons of cryptocurrency. Nonetheless, the value of most crypto coins has increased in the past weeks. Bitcoin touched $45,000, and other cryptocurrency prices significantly increased. Therefore, while the market’s current behavior may still be far from what is considered a bull run, it is getting close. Technical research suggests that the next wave of cryptocurrency bull markets could begin this year and peak in late 2025. 

Conclusion

Is crypto dead? Well, the answer is a capital NO. Crypto is very much alive. No one seems to have the authority to ban cryptocurrency completely. Also, the fact that cryptocurrency is still discussed in the mainstream shows how relevant it has become. Talks and arguments over it will keep coming up. However, kindly “do your research (DYOR)” to understand what you’re getting into before investing. We say it is not dead, but that doesn’t mean we are giving financial advice.

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