Managing Partner at X-Pay, Dr. Muhammad Abdulmutallab, said there is definitely growth in Digital and Cryptocurrency In the future, because with the exception of Bitcoin, the rest of the currencies are working to solve problems that exist in the market, and therefore they have a future.
Abdulmutallab added, in an interview with Al-Arabiya, today, Sunday, that the current pressures in the markets are not only on digital currencies, but on all markets, whether stocks or metals, because the global economic situation strongly affects Bitcoin and cryptocurrencies, especially as they are high-risk assets and the situation. Currently it indicates the possibility of crashes in the markets.
The managing partner at X-Pay explained that no one can predict the cryptocurrency market currently, noting that there is no doubt that the cryptocurrency market is highly speculative.
Dr. Muhammad Abdul-Muttalib said that a company like Netflix, which is not a cryptocurrency company, has fallen by more than 70%, because any shares that have a high risk will be severely affected in the coming periods.
He added that the collapse of some digital currency companies is due to the lack of legislation and strong control over cryptocurrencies, especially since those lending companies have poor financial solvency and their investments are not at the required level, and therefore collapsed with currencies.
The co-manager at X-Pay noted that there are demands for strong cryptocurrency legislation, while the European Union announced a week ago crypto legislation that will be in effect from 2024.
He explained that there are those who are taking advantage of the existence of a promising future for cryptocurrencies and solving them for major problems and making disturbances in the market.
