Are We Misunderstanding the Cryptocurrency Craze?

There’s no doubt that people are in a frenzy over cryptocurrencies. Not just bitcoin, but ether and litecoin and a number of others have seen huge gains this year.The interest in cryptocurrencies as a whole, and the hundreds of thousands of people signing up to platforms like Coinbase, has led to investors pouring money into other digital coins.But I feel there is a huge misunderstanding among both people trading cryptocurrencies, as well as critics. People will look at many cryptocurrencies and say, “this is madness.” They’re not wrong. There is bubble right now in a lot of these digital currencies with people trying to make a quick buck.

Source: Traders might be misunderstanding the cryptocurrency craze – CNBC

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This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.