Bitcoin Slump, Reality Check For The Crypto World


The crypto world was meant to be an exclusive space, where only the best tech minds could enter. If you did not hear of Bitcoin, you were unfit to even utter the word crypto. Then came the crypto gurus, predictions, suggestions, recommendations – all based on nothing but a short prayer and tons of speculation. 

The December 2018 predictions for Bitcoin were rosy and absolutely delicious. Crypto pundits bragged about nothing below 20,000 dollars for the BTC. Better moods quipped numbers like 50,000 dollars and more. And then came the boom or rather the doom, a price crash that saw the once invincible Bitcoin languish in the 3,000 dollar range. 

So what went wrong, how could this happen – no answers and no talkers. The smallest recovery in BTC price is now being celebrated and debated, some see it as a good omen for the future of Bitcoin. 

Without getting into another guessing game, the crypto world needs to put itself through a reality check. Can it really survive and develop despite a Bitcoin slump. The days when crypto space could be equated to Bitcoin, should be numbered. Crypto centric minds will need to chalk out a plan to survive a Bitcoin shock. Not merely survive but to develop and flourish. 

Glitzkoin the first diamond blockchain to be promoted by a diamond veteran has been pushing for a new strategy. Crypto space participants are being urged to support blockchain projects that, have much more than a crypto token. Having successfully completed an ICO in June 2018, Glitzkoin makes a direct connect to the multibillion dollar diamond industry. The project includes a complete trading platform for diamonds – DiaEx. The platform is designed to support B2B and B2C trade in diamonds. 

Payments for transactions conducted on the DiaEx platform, will be settled using the Glitzkoin GTN crypto token. The token is also listed on Stellar based exchanges and is being actively supported by the crypto community. The DiaEx trading platform is due to be implemented in the next few weeks. This would generate an additional stream of demand for the GTN token. 

Finishing up our observations on Bitcoin, it might be the right time to exit the Bitcoin rollercoaster and look around for more stable cryptos. 

For more reports on the crypto world and the Glitzkoin project, follow the Glitzkoin Youtube Channel.


[German]