Pi Network cryptocurrency drops to half USD/Pi, causing panic among investors.

At its current price, Pi has dropped in value by 75% compared to its initial listing price of $2/Pi on February 20th.

On social media forums dedicated to the Pi Network cryptocurrency, "Pi users" are sharing posts expressing their bewilderment over the cryptocurrency's recent decline. Many are also analyzing market anomalies.

" I spent over 300 million VND buying when the price was $1.6 USD/Pi, and by now I've practically lost everything ," wrote user Tuan Huy.

The value of the cryptocurrency Pi has fallen to $0.50 per Pi. (Screenshot)

Pham Hai's account also lamented: "If things continue like this, will Pi really collapse?" Below, many people commented, generally agreeing that the price of Pi will continue to fall regardless of how much users continue to buy, and that this is an anomaly.

"Why can the trading volume of 350 million Pi affect the total supply of over 6.7 billion Pi in circulation? This is illogical and unusual ," questioned user Le Huynh Duc.

In response to this question, many people argue that since over 90% of the Pi supply is held by the issuer, the Pi sold is entirely Pi sold by the issuer to generate revenue.

Meanwhile, some people are urging investors to buy at the bottom when the price of Pi is low, hoping for a future price increase. However, this is immediately countered by other users: " You want to buy at the bottom but don't know where the bottom is. At this rate, it could fall to $0.1 USD/Pi, or even lower."

Offering advice to investors, Mr. Nguyen Anh Dung, a personal finance planning expert at FIDT Investment Consulting and Asset Management Joint Stock Company, stated that the most important aspect of investing is understanding what you are investing in and how.

"Cryptocurrencies constitute a vast market with many different types of currencies. However, investing in them is more like believing in or hoping for a positive outcome than a clear financial investment strategy," Mr. Dung stated.

According to Mr. Dung, investors need to be cautious when "pouring money" into accumulating Pi in the current market context, where the trend is unclear and full of risks.

Furthermore, since Pi is being created for free, it's difficult to see where its value lies to have any basis for believing that its value will increase.

"Like stocks, gold, real estate...we can calculate why they go up and down. But with Pi, even the people involved probably don't understand what gives it its value," he remarked.

Therefore, expert Nguyen Anh Dung argues that cryptocurrencies are like a form of speculative asset. Without thorough research and market guarantees, small investors could become easy prey for "sharks."

From a personal financial planning perspective, Mr. Dung advises investors against choosing such risky financial options. If they do choose to invest, they should only use a small portion of their idle assets to explore the possibilities, rather than getting deeply involved.

Meanwhile, from a legal perspective, many lawyers say that, according to current regulations, Pi Network cryptocurrency is not a legal means of payment. Current laws also do not recognize cryptocurrencies in general, and Pi Network in particular, as assets. Therefore, the risk associated with this cryptocurrency is very high.

Virtue

Source: https://vtcnews.vn/tien-ao-pi-network-chi-con-nua-usd-pi-nha-dau-tu-nhao-nhac-ar935881.html