How would the creation of a new currency by China and Russia affect the value of existing cryptocurrencies?

1 answers

• Mar 22, 2022 · 3 years ago
  As an expert in the cryptocurrency industry, I believe that the creation of a new currency by China and Russia would have a significant impact on the value of existing cryptocurrencies. It's important to note that the success of a new currency depends on various factors such as its adoption rate, stability, and trustworthiness. If China and Russia are able to create a currency that meets these criteria, it could potentially attract a large number of users and investors. This could divert attention and resources away from existing cryptocurrencies, leading to a decrease in their value. However, it's also possible that the introduction of a new currency could bring more attention and legitimacy to the overall concept of digital currencies, which could benefit existing cryptocurrencies in the long run. Overall, the impact would depend on the specific details of the new currency and how it is received by the market.
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