Vitalik Buterin, one of the founders of Ethereum, has recently reported of an undesirable possibility for the Crypto World. As per his cognition, the digital currency market has not settled down it’s volatility and this unpredictability can hit zero at any time.
His tweet read, “Reminder: cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time.” He even warned the investors to not put in a large sum of money in Cryptocurrencies that one cannot afford to lose. Added to this, he adviced the enthusiasts, to stock life savings or any traditional assets, in the form of traditional money, as it is the “safest bet”.
Responding to his tweet, entrepreneur Daniel Romero Suarez asked the viewers to Imagine what would happen if Henry Ford found the car, new and insecure to mobilize and asked us to try and walk instead of drive.
Though Bitcoin huddled down a huge fall from $19,000 to $6000 this year, critics predicted a bull run in the future, for the Currency. . Thomas Lee of Fundstrat Global Advisors, said that he foresees a brand new record for Bitcoin by the end of July, based on the corrections of the currency since 2010.
With statistics claiming a better market for Bitcoin, Ethereum-founder’s tweet came in like a shock. To this Jamie Dimon, JPMorgan head tweeted back, “Vitalik my friend are you okay?”
Ethereum coin started as around $13,last year. In just about a few month’s time, it had gone as high as $1400 and fell back again to $580.By the end of the next few months, it had gone back to $1389.
Ethereum, currently stands at $954, with Bitcoin leading the market at $1121.
Bitcoin had since a month, recovered it’s lost ruins to $11,000 and Ethereum-lead’s prediction, seems to be out of context for many investors and critics.