Cryptocurrency: The warren buffet and Elon musk dissent. Why is the crypto market Falling?

The term that can entice everyone in 2022 is cryptocurrency. What is so intriguing about it, and what isn't. Why are well-known investors like Warren Buffett uninterested in it, while Elon Musk disagrees with Mr. Buffet? Come in and let's take a closer look.

In the year 2020, the total amount of bitcoin exchanged was estimated to be between $2 billion and $16.5 billion, but beginning in January 2021, it skyrocketed to over $1 trillion per day in global swaps. You can comprehend the crypto frenzy from this data, and the primary thing you can infer from it is that everyone fantasizes about it.

Returning to our subject, Mr. Warren Buffet has stated that "cryptocurrencies are not a productive asset" and that he would not buy the entire bitcoin for even $25. This infuriated a large number of cryptocurrency investors, including our world's richest person and crypto investor, Mr. Elon Musk. Mr. Warren Buffet's comments provoked him, and he replied to a video released by American entrepreneur Marc Andreessen by saying, "Ha-ha, he says "Bitcoin" so many times." As a result of this covert cold war, bitcoin reacted positively to the criticism, trading at around $ 38.5k the next day, up 1.58 percent from the day before.

But, in terms of the overall image of the crypto world, despite the fact that it has risen in response to criticism, cryptocurrencies do not appear to be trading well in recent times and have fallen to an all-time low, resulting in a crypto market crash. Bitcoin, the most well-known cryptocurrency, is steadily declining, causing investors to experience the dread of their lives. Although it is said that this condition is happening due to the fear of inflation and a very potent recession, The original reason may be that many feel that cryptocurrencies are not a valuable asset and is a very high-risk investment involving high volatility.

Some claim that cryptos are the most profitable and that whoever possesses them owns the future. To be accurate and to the point, those are all things that are wonderful to hear and dream about, because the most rewarding volatile asset may one day become disastrous for anyone, regardless of circumstances. It is decentralized, which is beneficial to those who own it but detrimental to the government. As a result, the single thing that determines its worth is time and time only!!!