As cryptocurrency market is highly volatile, sharp price fluctuations are inevitable. However, Achain coin seems to have been experiencing an extended downturn that has frustrated its investors. Let us look into some of the reasons why Achain coin has been dropping continuously.
1. Market Sentiment:
The major reason for Achain coin’s plummeting is the declining market sentiment towards cryptocurrency. The market is still reeling from the after-effects of the bearish trend that started in 2018. Many investors, fearing the risks involved, are choosing to stay out of the market.
2. Competition:
The cryptocurrency market is highly competitive, and Achain coin has fierce competition from other blockchain-based platforms. These platforms have better market penetration and blockchain infrastructure than Achain, making it challenging for it to capture a significant market share.
3. Lack of Adoption:
Achain coin has not gotten the desired level of adoption compared to its competitors. The low-level adoption hinders the coin’s value and credibility, dampening investor’s sentiment towards Achain coin.
4. Lack of Trust:
Frequent security breaches and lack of transparency in its operations have also contributed to the downfall of Achain. The low level of trust among investors has led to many prominent investors shying away from investing in the coin, causing its value to plummet.
5. Over-dependence on China:
Achain’s market is heavily dominated by China, a country that has shown increased hostility towards cryptocurrency. This has made it challenging for Achain to attract new investors and partnerships, leading to a continuous decline in its value.
In conclusion, Achain coin has had a rough ride in the cryptocurrency market, and it will take some time and strategic planning to reverse its fortunes. However, given the volatile nature of the market, Achain may still have a chance to make a comeback and regain the trust of investors.
