Cryptocurrencies Are Basic Alternative to the Fiat Currency Ecosystem

3 min reading

Alex Karasulu (CEO of OptDyn Inc.) stated that cryptocurrencies constitute the basic alternative to the fiat currency system.

His opinion is supported by the fact that the global US ecosystem is becoming more and more unstable. Karasulu claims that recent increases were mainly due to the destabilization of the entire sovereign ecosystem.  As a result, many people are looking for new independent alternatives; this is mainly due to the increasing sanctions imposed on the market.

Dependencies

This view is reflected in fluctuations in cryptocurrencies' prices in response to the news about a trade war. It is worth noting that at the beginning of June this year when this situation worsened, prices of cryptocurrencies have increased. At the end of last month, a significant number of people withdrew from the market - coincidentally, in that moment trade war was going through a relaxation. Karasul sees some dependencies in here.
Everyone knows that these wars will further destabilize the global dollar-dependent economy, which is fragile and vulnerable to shock.
- added the CEO of OptDyn Inc.

Different views on the subject

In turn, Oliver Gale (CEO of Basetwo and Paymachine) believes that the Bitcoin's price is supported thanks to its firm basis, and as an example, he states that the BTC network is secure, and the second layer scaling solutions, such as the lightning network, continue to increase their capacity. However, not everyone agrees with the above-mentioned views. This group includes, among others, the American analyst of the Investing.com, Jesse Cohen. He credits the price movements of the main cryptocurrencies to human nature, not the technical aspects. In his opinion, FOMO is largely responsible for fluctuations in the cryptocurrency market.
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