Raevenlord
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Adding yet more tinder to the fire is usually the way for some players in the industry - and this isn't any different (one could even say this is exacerbated) by investment gurus and finance groups. Steve Strongin, Goldmann Sachs global head of investment research, said in a February 5th report that most digital currencies are unlikely to survive in their current form, and investors should prepare for coins to lose all their value as they're replaced by a small set of future competitors. Steve Strongin is particularly worried on account of "The high correlation between the different cryptocurrencies," adding that "because of the lack of intrinsic value, the currencies that don't survive will most likely trade to zero."
This is a trend that can usually be seen in the crypto market, as most alt-coins tend to follow Bitcoin's pricing trends, with their value being seemingly pegged to the current cryptocurrency king's value - and some might say credibility. There have been some instances of drifting pricing trends where some cryptocurrencies actually cease being pegged to bitcoin's value in their own valuation, but these events are usually few, far between, and tend to regress to their previous state.
According to Strongin, today's digital coins lack long-term staying power because of slow transaction times, security challenges and high maintenance costs. He further said that the introduction of regulated Bitcoin futures, which we've already covered here on TPU, hasn't addressed those concerns and he dismissed the idea of the advantage always being in the field of the pieces that make the first and more definite moves, comparing this cryptocurrency boom to the dot com bubble in the 1990's.
View at TechPowerUp Main Site
This is a trend that can usually be seen in the crypto market, as most alt-coins tend to follow Bitcoin's pricing trends, with their value being seemingly pegged to the current cryptocurrency king's value - and some might say credibility. There have been some instances of drifting pricing trends where some cryptocurrencies actually cease being pegged to bitcoin's value in their own valuation, but these events are usually few, far between, and tend to regress to their previous state.
According to Strongin, today's digital coins lack long-term staying power because of slow transaction times, security challenges and high maintenance costs. He further said that the introduction of regulated Bitcoin futures, which we've already covered here on TPU, hasn't addressed those concerns and he dismissed the idea of the advantage always being in the field of the pieces that make the first and more definite moves, comparing this cryptocurrency boom to the dot com bubble in the 1990's.
View at TechPowerUp Main Site
They love playing you fools who sell at the slightest panic. It's no different than the stock market, except now they don't have to worry about government regulations, they can buy low, sell high and control the markets with no fears. 
Crypto is the new playground for hedgefund bros.
