Pi cryptocurrency loses more than 70% of its value, soon to be worth only half a USD

At 2:20 p.m. on April 2, on the OKX exchange, the value of Pi Network virtual currency was traded at 0.68 USD/Pi, almost the lowest level since its listing on February 20. Compared to the price of 2 USD/Pi on the first day of listing, Pi virtual currency has decreased by more than 70% in value, which has made investors confused.

On social networking forums about Pi cryptocurrency, many people are impatient when the value of this currency only goes down and not up.

Pi cryptocurrency has lost 70% of its value since it was listed 2 months ago. (Screenshot)

Account Nguyen Van Hieu wrote: " At this rate, Pi will easily collapse. I've been following it all week hoping Pi will go up but I haven't seen any movement, it's just going down, it's already far away from the 1 USD/Pi mark."

For those who have been mining Pi for many years, they do not have to pay any fees to own it. However, for those who invested money to buy Pi when this virtual currency was listed on the exchange, they are facing the risk of losing money.

" I bought Pi at $1.7 because I thought it was a reasonable price. When I bought, I hoped that with such a large Pi community, the price would go up. But now the price has dropped so much, I'm losing up to $1/Pi, I'm afraid the price will go down even more, " an anonymous account shared.

Previously, commenting on the Pi virtual currency investment market, Mr. Nguyen Anh Dung, a personal financial planning expert at FIDT Investment Consulting and Asset Management Joint Stock Company, said that the most important thing in investing is to understand what and how you are investing?

“ Virtual currency is a huge market with many different types of money. However, investing in it is more like a belief and hope than a clear financial investment plan ,” Mr. Dung stated his opinion.

According to Mr. Dung, investors need to be careful when "pouring money" to collect Pi in the context of an unclear market trend and full of risks like the present.

In addition, Pi is being created for free, so it is difficult to see where the value of this currency is to have a basis to believe that it will increase in value. " Like stocks, shares, gold, real estate... we can calculate why it goes up and down. But with Pi, the players themselves probably do not understand why it is valuable," he commented.

From there, experts believe that virtual currency is like a form of speculative asset. Without careful research and market assurance, small investors can become easy prey for the "sharks".

In terms of personal financial planning, Mr. Dung recommends that investors should not choose such risky financial options. If so, they should only use a small portion of their idle assets to participate in an exploratory manner.

Virtue

Source: https://vtcnews.vn/tien-ao-pi-mat-hon-70-gia-tri-sap-chi-con-nua-usd-ar935300.html