It came into our lives 13 years ago. In a short time, the number of investors exceeded the millions. Cryptocurrencies have become a high-profit investment tool for some. For some it’s a nightmare …
Non-authoritative currencies diversified over time. Investors’ appetite has grown. The appreciation and loss of value of speculative assets in a short time have heightened concerns. The restrictive policy of the US Federal Reserve has also affected cryptocurrencies. The impact of geopolitical concerns and global risks has been negative.
The earthquake in today’s popular crypto investment vehicle continues. Bitcoin plunged below $ 20,000, reaching its lowest level since December 2020. Ethereum, on the other hand, saw below $ 1,000. Millions of investors who did not expect this decline are also shocked.
Bitcoin, which climbed to $ 69,000 on November 10, 2021, reached its highest level in its history, plummeting to $ 17,600 7 months later.
“CRYPTOGRAPHIC COINS RUN FAST”
Beykent University rector Murat Ferman said: “Cryptocurrencies were running fast. Participants in this race enjoyed themselves. Even in the virtual world, it has already made great gains in the virtual digital environment. But after all, there is no doubt that the time has come to evaluate it from a more realistic perspective, “he said.
The current size of the cryptocurrency market with millions of investors is around $ 900 billion. However, with the steep decline it has experienced over the past two months, this ecosystem has regressed by $ 1 trillion. With the restoration of Luna, which is in the top 10 in the cryptocurrency market, millions of people have lost billions of dollars.
Some wanted to lower costs. It added cryptocurrencies to its wallets as the price dropped. But that only increased the damage. When the direction of the market was always on the downside, cryptocurrencies were again challenged.
“THE HONEYMOON IS ENDED IN CRYPTO COINS”
Ferman said: “Maybe when that excitement, such applause and unconscious participation of everyone is over, everyone will sit and look at it and evaluate it, and some empty dreams like the magic solution, the indisputable safe haven, will buy a bay. 10, sleep one night, get up millionaire the next morning. And it’s useful to think of it as a new page, perhaps, where expectations that aren’t solid should be resurfaced. Cryptocurrencies will continue to exist. But they will change shape. And they will begin to rise. be evaluated along with their weaknesses and strengths. In other words, the honeymoon ended up in cryptocurrencies.
“MONEY IS NOT THE ONLY THING INVESTORS LOSE”
Money isn’t the only thing cryptocurrency investors lose. In addition to economic victimization, the psychological effects are also undeniable. Especially in the last two months, the decrease and loss of amounts can cause psychological harm to people.
Despite the losses, some investors are not giving up on cryptocurrencies. The high earning expectation is the first reason. However, it is not clear what the direction of cryptocurrencies will be.
University of Health Sciences prof. Dr Ramazan Konan said: “In this type of environment, people are in a speculative expectation. If you turn your cryptocurrency investment into gold or another stock, there is no chance of achieving your dream investment. That’s why it stays there. “The expectation is huge,” he said.
There were those who sold cars or houses and invested in cryptocurrencies. Some have even moved their relatives’ money into the virtual world. The greater the return, the greater the investment. The result for now is a disappointment …
“I THINK THE FUTURE TECHNOLOGIES ARE IN CRYPTO”
The cryptocurrency investor, who has been losing a lot of money recently, made the following statements:
“There is a loss of about 700 thousand lire. After all, it is lost. I made that money, it’s my money, so let me tell you. We have such a loss. The future for me is crypto due to the recent cryptocurrency crash in the past couple of months. So I invest in technology. And I think so, so I think the technologies of the future are in cryptocurrencies. That is why I will always continue to do so. Until it disappears .. Of course, it affects a lot psychologically. I know I got up at 3am to 2am and checked. This has been bothering me a lot lately. Recently, it has started to cause hair loss, especially in the last period, psychologically. It had a very negative impact, of course. “
“THEY ARE NOT AT A POINT WHERE THEY CAN AVOID VERY EASY ENCRYPTION”
The average age of people investing in cryptocurrencies is low. Earnings expectations are higher than ordinary investments. So, is cryptocurrency addictive? Why can’t investors give up?
prof. Dr. Konan said: “This includes a complete change in their lives. Therefore, giving up on this dream is related to how much they have invested here. I don’t mean money for investment. Think emotionally, think behaviorally, think socially. How much do they invest in their lives and what do they think they will earn by making this investment. The deeper it is, the more they depend on it. “They are not at a point where they can give up very easily,” he said.
Cryptographic assets will be on the agenda for a long time. Will losing investors be able to recoup their costs? Time will tell.
SOURCE: TRT NEWS