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What’s going on with the Bitcoin market?

What’s going on with the Bitcoin market?

Why is HODLING important right now? Market crashes are often a vicious cycle

With Event of the past week, I have no doubt this question is very relevant at this point. Very Very important. I myself have taken to the Serch engines such as Google.com to type in What’s going on with the Bitcoin market? After a scare on Bitcoin possible bibble. What’s going on with the Bitcoin market?

What’s going on with the Bitcoin market?

Doing my research I come to agree on the on 3 basic terms as confirmed by my research. Cryptocurrency Buble can be caused by many factors, this include; 1- Market Movements, 2. Bann in Korea and China, 3. Temporal recession such as towards Festive season where people sale to pay bills like House Rents in January, Students need money to return to school and lots more. Events like this could cause a massive scare of Hord cryptocurrency and Panic scare is pumped into the system and we could see massive rates Drop.

LIVE CRYPTO RATES FOR TODAY

Name Price24H (%)
Bitcoin (BTC)
$3,225.80
-2.18%
Ethereum (ETH)
$84.06
-2.23%
XRP (XRP)
$0.287993
-3.16%
Bitcoin Cash (BCH)
$79.42
-10.41%
Litecoin (LTC)
$23.60
0.14%
Cardano (ADA)
$0.028200
-3.00%
Monero (XMR)
$38.55
-7.36%
Dash (DASH)
$58.69
-3.66%
IOTA (MIOTA)
$0.212693
-1.83%
NEM (XEM)
$0.061156
-6.48%

Also, At the early time of every year, businesses need to take inventory of the previous year and balance up their accounts. This type of periods could result in Massive sales or HOLD of the Cryptocurrencies and lead to Cryptocurrencies Dropping drastically as experienced on 16th of January 2018.

As of Wednesday 17th January 2018, the price of Bitcoin hit a low of around $9500. by Friday which was the 19th January, the crypto markets began recovering and hovering at close to $12,000. Ethereum, however, dipped to around $810 on Wednesday but is now above $12,744 as of Saturday, January 20th, 2018. $10,000 and $1000 are key psychological barriers for many people, although there’s nothing magical about those numbers. However, other altcoins are still increasing in value so there’s no indication that cryptocurrencies are going out of favor.

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What’s going on with the Bitcoin market?

The cryptocurrency market has always been volatile. That is in part due to its relative newness, but the last few weeks have been packed with significant events for the market. While it’s impossible to pinpoint the exact cause, there are a few events likely to have played a part.

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Inside trading in South Korea. There have been reports of South Korean officials dumping their holdings to push down prices, leading to protests and petitions. South Korean state employees have since been banned from trading cryptocurrencies. However, no all-out ban has been issued and everyone else is free to trade as they wish.
The Visa Ban. Wavecrest bore the brunt of this with the recent pullback. Many prepaid debit card offerings have been temporarily seized both inside and outside the EU. We’re working on a solution to this and we’re really close to delivering new cards to our new card provider.

What’s going on with the Bitcoin market?

More people investing in altcoins. It seems that many of the 1300+ altcoins are growing in popularity, with a recent ICO raising a record-breaking $1.2 billion. It seems possible that many people are choosing to diversify their crypto holdings by buying altcoins in the hope that some may reach Bitcoin level prices.
Chinese crackdown on mining. It is believed that the Chinese government may be working to shut down the country’s largest mining community and to block access to exchanges.

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It’s just that time of year. Bitcoin prices have historically dropped around mid-January. Some people have pointed out on Twitter that this is a time of year when many of us struggle financially, with tax season coming right after the heavy costs of Christmas. It could be the case that many people are selling their Bitcoins to cover their bills. January also happens to be close to Wall Street bonus season. There has been speculation that traders are dumping their crypto holdings to push down prices, enabling them to later buy them back at a lower price and make a profit when the market recovers.

Why You Should HODL Through the Dips

As long as you are not a new user on the crypto market, you won’t have any issues with trading. Don’t allow yourself get the bubble scare you off. Yes, Bitcoin prices are dropped But, despite this, the price is up by over 1000% since January 2017. And it’s up over 583,000,000% since 2010. Going from $0.003 to around $12,000 in less than 8 years is still a big deal for any investment, even if it hasn’t always been a smooth ride. The demand for (and interest in) cryptocurrencies is still growing and new practical uses are developing every day.

You’re probably seeing a lot of news articles full of CAPITAL LETTERS and exclamation points!!! declaring Bitcoin to be dead. Just keep in mind that these are written to get clicks, not to give an objective perspective.

I hope you got Rosie Leizrowice point. Let’s take the USA for example, CNN Richard Quest is an expert on TV Channels Quest Means Business, keep stressing the bubble just to pump in more fear. Don’t let such guys rub you the opportunity for the future.

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We can grow the market together, buy, trade and invite friends.

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Updated: January 20, 2018 — 3:17 pm

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