Cryptocurrency Downfall

No one would have thought 7-8 years ago that cryptocurrencies will become the talk of the town. People now prefer to invest in cryptocurrencies rather than investing in stocks, gold, or any other commodity. However, one problem that the investors are going through it’s the volatile nature of the cryptocurrencies. Cryptocurrency downfall has been a significant problem in the recent past, with some analysts believing that this could continue in the future as well.

Cryptocurrency Downfall: Regulatory Issues

However, the question is why are cryptocurrencies witnessing a downfall? Not only Bitcoin, the most popular cryptocurrency, but all other cryptocurrencies saw a significant drop in their values during the months of December and January. Bitcoin was the one that suffered the most during this downfall stream as its value went down by more than 60% to less than $7,000 before making a slow recovery and standing at $11,000 as of now.

The one primary reason for the downfall of cryptocurrencies has been due to the regulatory compliances enforced by different countries. Before getting popular, all cryptocurrencies were going unnoticed with no regulatory authorities taking any action towards it. However, now the cryptocurrency market is worth billions of dollars, and the industry and regulatory watchdogs are keeping a persistent check on it. Countries like South Korea, India, and others are now adding regulations to cryptocurrencies trading to keep a check on it.

Regulators are now cracking down on any unlawful uses of cryptocurrencies to cut down the financing of any illegal activities. Before South Korea began its crackdown on cryptocurrency, the entire country was becoming a trading hub for cryptocurrency with students, homemakers, and almost every other individual was involved in heavy cryptocurrency trading.

Cryptocurrency Downfall: Withdrawals from Exchanges

Another primary reason for the downfall of the prices of cryptocurrencies is due to the unexpected halting of withdrawals of cryptocurrency exchanges. A Tokyo based crypto exchange halted all withdrawals from its exchange after a hack led to a loss of more than $500 million in January 2018. This halting of withdrawals of cryptocurrencies also results in the cryptocurrency downfall. This is because this type of news creates panic in the market and new investors head straight to cash out their investments because of fear.

Cryptocurrency Downfall: No Backing Up

Another problem that many investors have to face while investing in cryptocurrencies is that this particular investment is virtual and not backed by anything. Whether it’s the bitcoin or Ethereum or Litecoin, none of these currencies supported by anything. The prices of all the cryptocurrencies depend on the demand and supply factor, or you can say that it depends on the universal belief value that people perceive of cryptocurrencies.

Outcome after Cryptocurrency Downfall

With everything in the air and nothing in hand, cryptocurrencies turn out to be a massive gamble for people who go for safe investments. Thus whenever the crypto market is volatile, these safe investors get a panic attack and look out for ways to cash out and get out of the cryptocurrency downfall. But not every time you can get away with this.

The recent cryptocurrency downfall wiped off more than $100 billion from the crypto market in what termed as the biggest as the most significant loss in the history of digital financial assets. However, some investors are still optimistic about cryptocurrencies. These investors believe that the crypto market has always been like that but is now getting more attention only because it has grown on to a significant level. However, that is the real flavor of the crypto market, and you have to deal with it to stay alive.

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Business Continuity

Business Continuity defines the planning and preparation to ensure that an organization can deal with serious risks, incidents, and disasters and it also can recover to an operational state within a short period. Business continuity is a plan to deal with stressful situations. Business continuity plan considers different events such as natural disasters, fires, cyber-attacks and other external threats. Business continuity is essential for every large or small organization, but it is necessary especially for every large enterprise to maintain all the functions for the duration of a disaster. Threats and risk in any organization can increase the expenses, lost income and inability to go forward with future business plans.

Why business continuity plan is important

Not every company develops business continuity plan, but it is significant for any organization. Even sometimes the best employees cannot expect what to do in disaster or risk condition. In that condition business continuity plan is essential. Business continuity management integrates the discipline of an emergency condition, Crisis Management, and disaster recovery.

Developing Effective Business Continuity Plan

An effective business plan is made up of four stages

Define potential Risks: the first step is defining the potential risk of an organization. You can start by asking yourself what potential threats or risks you are facing. You can consider any risk from technical threats to human or natural disasters

Determine how these risks will affect the operations: once you found the risk, then you can think which risks will have the most severe impact on your business or organization.

Develop your business continuity plan: in this phase of business continuity, you will reduce the interruptions in the case of any risk or disaster. In this step, you will find out how you will recover from that risk and the resources you will need to protect your assets and business.

Implement your business continuity plan: Once you complete your project, you can distribute it to all the stakeholders and employees, and you should make ensure that they are comfortable with all the steps in the business continuity plan.

Business continuity impact Analysis

BC impact analysis is one of the most critical parts of developing business continuity plan. This part identifies the effects resulting from disruption of business functions. It also uses the whole information if the organization to make the decisions about recovery priorities and strategies.

Business continuity planning is essential for running any organization. There are many benefits for business continuity within your organization. It not only secure your data, hardware, and software but also solve the risks of your business. BC planning will make your organization more robust, and it can also strengthen your organization. Business continuity plan also helps to protect your organization’s brand, name, and reputation. Being known as a reliable company is always good for business.

You can create business continuity team with members in every part of your organization. The team members should involve in planning and testing throughout the year to keep the plan up to date.

Honing of business analysis skills can be achieved with business analysis courses. Secure your business with a good plan today.