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INTERNATIONAL JOURNAL OF SCIENTIFIC DEVELOPMENT AND RESEARCH International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2455-2631 | Impact factor: 8.15 | ESTD Year: 2016 open access , Peer-reviewed, and Refereed Journals, Impact factor 8.15 |
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| Paper Title: | UNRAVELLING THE DOWNFALL OF CRYPTOCURRENCY |
| Authors Name: | Protiksha Singha , S Sai Kamal , Hamslekha Shankar , Manisha Tripathi , Prachi Chandra |
| Unique Id: | IJSDR2404034 |
| Published In: | Volume 9 Issue 4, April-2024 |
| Abstract: | A Comprehensive Analysis Cryptocurrency, once hailed as the future of finance, has witnessed a rollercoaster journey since its inception and introduction. This abstract provides insight into our comprehensive analysis, aiming to unravel the multifaceted aspects contributing to the perceived downfall of cryptocurrency. As the cryptocurrency market saw a boom and evolved over time, it became evident that a host of challenges accompanied the initial promises of decentralized control, security, and borderless transactions. Our research delves into issues, starting with the rise of security breaches and scams that eroded trust among early adopters and newcomers alike. The lack of regulatory oversight in many crypto markets has exacerbated these problems, creating an environment ripe for fraud and manipulation and how governments across the world feel about the lack of regulation and its influence on the economy. Cryptocurrency's extreme volatility, once seen as a hallmark of potential profit, has become a significant barrier to its adoption as a stable medium of exchange or store of value in our market. Additionally, environmental concerns have cast a shadow over the industry, as the energy-intensive nature of crypto mining has raised questions about its sustainability and its moral implications. Our analysis also examines the evolving landscape of cryptocurrency regulation, taxation, and consumer protection, emphasizing the tension between the desire for financial innovation and the need for regulatory control. We acknowledge the undeniable potential of blockchain technology and digital currencies to reshape finance but stress the importance of addressing these challenges. Ultimately, our research aims to foster a deeper understanding of the crypto ecosystem, provoking thoughtful discussions about its future. Cryptocurrency has left an indelible mark on the financial world, and its legacy will continue to shape the future of finance, for better or worse. The young and unregulated cryptocurrency market is vulnerable to manipulation, including pump-and-dump schemes and large holders manipulating prices. This feeds the perception of a volatile and risky market. |
| Keywords: | Cryptocurrency Downfall Rollercoaster journey Challenges Security breaches Scams Regulatory oversight Fraud Manipulation Volatility Environmental concerns Energy-intensive mining Sustainability Regulatory control Blockchain technology Digital currencies Bitcoin Altcoins Utility Tokens Stablecoins Security Tokens Privacy Coins Non-Fungible Tokens (NFTs) Regulatory crackdowns Institutional interest Global economic uncertainty Regulation Scalability Market manipulation Competition and innovation Perception and trust Decentralization Security Global openness Financial inclusion Lower exchange costs Innovation and disruption Volatility Regulatory vulnerability Security risks Usability challenges Environmental concerns Limited adaptability Centralized control Distributed ledgers Value proposition Transaction efficiency Streamlining Intermediaries Security landscape Global acceptance Conclusion Financial transactions Advantages Challenges Regulatory uncertainties Price volatility Environmental concerns Energy consumption Mining industry Legal ambiguities Security hazards Fluctuations in prices Ecological issues |
| Cite Article: | "UNRAVELLING THE DOWNFALL OF CRYPTOCURRENCY", International Journal of Science & Engineering Development Research (www.ijsdr.org), ISSN:2455-2631, Vol.9, Issue 4, page no.234 - 239, April-2024, Available :http://www.ijsdr.org/papers/IJSDR2404034.pdf |
| Downloads: | 000338172 |
| Publication Details: | Published Paper ID: IJSDR2404034 Registration ID:210660 Published In: Volume 9 Issue 4, April-2024 DOI (Digital Object Identifier): Page No: 234 - 239 Publisher: IJSDR | www.ijsdr.org ISSN Number: 2455-2631 |
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