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While we are trying to survive in this bear market, we are all asking the same question, why is this promising currency, Bitcoin, falling like this? When we will finally see the market turn around? Could this be the real end of the crypt boom as expected by many?
But before diving into answering these questions it is important to take a few steps back and make an assessment of this cryptographic market. The sector was really at the height and the reason could be withheld. The cryptography market has been able to gain some popularity over the years but, despite this trend, it seems that it is still struggling to get the main appeal.
The Crypto Market has come a long way
The market he was able to distance himself from the early days of being associated with the purchase of illegal articles online, the market was still able to evoke negative feelings. Especially for people who are not familiar with this particular technology.
The cryptographic market is still a new concept, therefore, casual users are exploring the different ways they will be able to use these tokens in their daily transactions. But with the lack of knowledge surrounding the encrypted market it tends to leave most of the venerable users to the scammers who are trolling the web, thus, they take advantage of their ignorance and inexperience of the market.
As a result, a survey was conducted in which various individuals from the community were contacted. This is from traders, newbies, professionals in the field to investors, asking them what is the biggest problem they have had with the cryptography market. And from this it emerged that there are three common and major problems that are experienced by everyone, so the reason why the industry is held back.
The three factors are the scammers who are trolling the web, the immature technology that is used by most platforms and the numerous failed projects in the industry.
1. Who has been cheated at least once in this sector?
As we all know, the crypto market is invaded by scammers who use inexperienced and naive users who want to enter the industry. What is more interesting is that scams do not happen only on an individual level. We have witnessed several cases in which an ICO is seriously advertised and ends up dispersing into thin air once you put your hard money into the project.
2. And the failed projects we continue to see?
The number of failed projects in this sector has been considered a big problem. And the reason for these failures could be the overly ambitious CEO, those who have acquired the technical know-how on how to go ahead and apply blockchain technology, but the big problem is that they lack the necessary expertise to success in the market. They have no experience in management and business to attract the investors needed for the project.
The other big problem they tend to have is that they do not focus on the practical features of the real world of this blockchain technology.
3. Blockchain technology is the self
Blockchain technology is still in its early stages, so, there has been very little application of this technology along with the use of real-world encryption. Not to mention, most blockchain startups in the market tend to focus on a specific niche project that would not appeal to the average person in the market. Therefore, traditional investors within the market who know very little about this market could not invest.
There is a better Blockchain community under construction
The good news is that a better community is being built, as technology continues to expand slowly, more people are able to explore better ways to overcome these common problems. So, have an all-inclusive community that will meet all your needs.
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