In the world of investing, fundamentals and a price of an asset class rarely move in tandem. Usually, one leads the other.
In 2017, the prices of cryptocurrencies skyrocketed, but the fundamentals were left lagging behind. That resulted in a sharp correction. While most digital currencies are down more than 50 percent from their highs, the fundamentals have improved rapidly this year.
Everyone, right from the investment banks to the large corporations are exploring the vast opportunities of the blockchain technology and cryptocurrency trading. The educational institutions, governments, and the central banks are also not left behind. They too are exploring the various options available in this breakthrough technology.
However, the prices have failed to respond to this improvement in fundamentals, and the virtual currencies continue to lose ground on every adverse news. The latest drop has been attributed to the order by the Japanese Financial regulator, which has asked the cryptocurrency exchanges to improve their practices against money laundering and terrorist financing.
This led bitFlyer to stop accepting new accounts temporarily until it makes the improvements. From a long-term perspective, this is favorable news, still, prices are reacting to the downside.
While this is frustrating, it increases the chances of another burst in prices once the sentiment changes. Therefore, we have been on the lookout to spot buying opportunities that show a change in trend.
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://steemit.com/crypto/@chauhan959/bitcoin-ethereum-ripple-price-analysis-june-22
✅ @shashibhusan8735, I gave you an upvote on your post! Please give me a follow and I will give you a follow in return and possible future votes!
Thank you in advance!