Why wont crypto rise in price

why wont crypto rise in price

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Cryptocurrency Will Never Be Real Money
The value of the cryptocurrency market overall has plummeted alongside rising inflation, with bitcoin losing half of its value since January. A high inflation rate for fiat currencies might lead people to invest more in crypto, because the Canadian dollars or U.S. dollars in their savings accounts are. While Bitcoin has failed in its stated objectives, it has become a speculative investment. This is puzzling. It has no intrinsic value and is not backed by.
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Bitcoin has been compared to gold, which is generally seen as an inflation hedge. Gaining Currency. Bitcoin was created by a person or group that remains unidentified to this day as a way to conduct transactions without the intervention of a trusted third party, such as a central bank or financial institution. Moreover, it has become clear that Bitcoin does not offer true anonymity.