Latest Cryptocurrency News – Ethereum and Cardano Crypto Coins Could Be a Future Alternative to Bitcoin

[ad_1]

PLANNED PRICE REDUCTION

However, others said the price change was to be expected.

When the move was first announced, it didn’t have as big an impact on prices as some might have expected, possibly because El Salvador’s population is smaller than New. York, but also because the announcement was sparse and people were on the fence about how it was going to be implemented, Leah Wald, CEO of ValkryieInvestments, told CNBC.

“Transaction fees, processing times and other hurdles also make it look more like a beta test than a solution to many of the problems plaguing the country’s poor,” she added, noting that most El Salvadorians live in poverty without internet access or smartphones.

What is most worth researching is whether neighboring countries in Latin America, or those elsewhere in the world, are also starting to adopt bitcoin as their national currency, Wald added.

If that happens, this is when we might see a higher parabolic move, as the momentum gained by several million more people with instant access to crypto is expected to lead to greater adoption, more of HODLing and higher prices.

[ad_2]