At a time when Bitcoin is experiencing significant increases and reaching record levels, it seems that the Pi Network project is facing difficulties and a major decline. This divergence raises questions about the future of both currencies.
Reasons for the decline of the Pi Network:
♦️Lack of liquidity and real adoption: Despite the large user base that Pi claims to have, the currency has not yet been widely listed on major exchanges (except for some partial and unofficial exchanges). This limits users' ability to trade the currency freely and makes its value unclear.
♦️Transparency issues and security concerns: Questions have been raised about the project's transparency and management, along with concerns about the collection of users' personal data. Reports have emerged of unauthorized withdrawals of currencies from users' wallets, increasing doubts.
♦️Lack of tangible use cases: Despite discussions about developing an ecosystem and decentralized applications, there is still a lack of real and innovative use cases that justify the currency's value or attract serious investments.
♦️"Buy the rumor and sell the news": When Pi announced initiatives like the Pi Network Ventures investment fund, there was a brief spike in the currency's price, quickly followed by a decline, which some attribute to the phenomenon of "buying the rumor and selling the news" where investors sell as soon as the news becomes official.
