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Most Popular Crypto Myths Put to Rest by OctaFX

Regardless of what world affairs are concerned with now, bitcoin just does its own thing: it pumped the vertical line towards 68,700 USD on 10 November 2021, closing that day with a new all-time high. The entire following month was a tour-de-force involving the price moving down to almost 46,500 USD on 4 December—a correction of over 32 per cent, taking the altcoin market down with it. Still, a bear sentiment has not yet been announced and most industry observers rather see the peculiarities of a wider bull market unfolding, projecting its blockchain innovation on the entire financial market.

‘Are there still any myths left?’

Plenty. But suppose we would like to have at least a general overview of cryptocurrency and blockchain myths circulating in society and mass media. In that case, we must first note that these misconceptions mostly stem from a lack of knowledge and understanding. We aim to reach these people since, for many, these fallacies are the reasons for missing out on exciting investments in new, groundbreaking technology and massive trading opportunities. The latter is especially true if you use reliable and trustworthy financial services. One of them to consider in this industry is the international broker OctaFX.

‘Bitcoin has no intrinsic value.’

Although this prejudice disperses less often nowadays, many critics like prominent gold maximalists, classical stock traders, and lovers of centralised fiat currency don’t pass on any opportunity to…

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