Why bitcoin not able to hit the Milestone $10000 Again ?? what are the main reasons for it ??

in bitcoin •  3 months ago

Hello
steemians ,

we are living an era where crypto is our main Dream currency which will help us to various ways, it can help to tradings instruments, well creations, Payments , electricity bill , fees everything. It is said that Next generation Valuable currency is Crypto currencies and and crypto market will lead and rules over our economics. It is our bright future..

**And it's supporting technology block chain also going to be worlds smartest most secure platform around the globe

Why bitcoin unable to Hit $10000 level.jpg
From cointelegraph

But in present scenario the situation is not good. Crypto market is not performing well.. It is goes under down trends phrase for long time. It is not showing strength Bear taking charges over bull using heavy selling pressure..

*** Lets find out the Reason behind it.... ***

Before dig into the Resons lets Have a looks on the chart today For BTC/USD

Bitcoin-1.png

If we take a quick look into the BTC/USD chart we can have OHLC data as bellow....

OPEN - 6709.98
HIGH - 6729.71
LOW- 6654.13
CLOSE - 6689.01

THIS Data suggested that bitcoin unable to break this $7000 Level even $6900 not able to touch..

On 22.08-18 when bitmex was down due to maintenance then within 15 minutes bitcoin made a spike only.. and touched.... $6890.65 level only ....

Now we have only question in our Mind why bitcoins is unable to touch $10000 level?? why why why?? the only question is why why why???

*Lets start try to find out some News that impact negatively impacted on Bitcoin---

Reason NO - 1 -- BTC and ETH both are green but unable to stable reason for this SEC has promised that it will Be re verified once again those 7-9 ETFs approval rejected -
You can check heat map ...here ..

Coin360.png
Source -- https://coin360.io

***but most of the cases expert are talking about it will take time upto FEB- 2019

if these happens bitcoin will be again take turn downside........ **This is the main reason that BTC would not able to touch $10000 level I think... Am I right or wrong audience please give your feedback....

Reason No-2 -

Another news coming from coin desk and some other sources that .. NY district judge making A Rules that CTFC- Commodities futures trading Commisons can Permanently Ban Crytpo trading firm*

The CFTC commission has Won this order... and can permanently ban NY based firm named - CabbageTech Corp
for their fraudulent activity...

for more details lease go through. bellow link...

https://www.bloomberg.com/news/articles/2018-08-23/cftc-wins-permanent-ban-against-vicious-bitcoin-operator?srnd=cryptocurriences

this is scary situation some crypto firm charged against money laundering and cheating this type alleagation seriouly Delay the ETFs approval and investor around the globe making panik selling result in front of us...

Bitcoin crashing down again and again...

Reason no-3 - Chinese Ministry and security agencies and some other Have RBC , PBC etc have warned against new crtypto fund raising will be stopped and if this type happens will be charged as plenty . Mobile payment process Alipay and all banking trasaction to the new overseas new crypto firm Airdrop money raising banned

For more info you can visit here

So all of these things are specially against of crypto market as of now...

If this type panicky situation continues then it is very Hard to Small trader to put money into Crytpo currency specially huge volatile Crypto Gaint.. Bitcoin

If there anythings Missed please let me know.. in comments box.... It would be very healthy environment to discuss there.. and lots of fun be added....

Hope this article will give you some inner sight view of why crypto giant Bitcoin not reaching $10000 level ???

Here are few works that might good to read... Please head on if you want to read...

1.https://steemit.com/actifit/@amusdnom/actifit-amusdnom-20180826t172602581z

2.https://steemit.com/steemit/@amusdnom/y478dh7s

3.https://steemit.com/bitcoin/@amusdnom/j3s4pr6x

Thanks for Reading ...
Regards @amusdnom

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This post has received a 13.64 % upvote from @sharkbank thanks to: @bindas.

I think bitcoin will be raise once again if SEC aproved the ETfs application for approval!!!!

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It will definitely rise....but it may take some time more.

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Yes It is just time factor... time is almighty , those whoa re creating block chain expending billion billion od dollar they know that it will be sooner or latter....

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Yea...
Some of the are buying it as much as they can.....

I'm not finding future in BTC now, is the crypto fallen? Will it recover? Lot of obstacles are being faced by it. Hope it gets back to a healthy position.

Posted using Partiko Android

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Have some patience it will definitely rise one day.. sooner or latter it will have be rise once again..

Desire to regulate crypto market may be the main cause. It is being tried to regulate the market by imposing several rules and regulations. Some countries,like India, have also banned it.

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India banned because of no Rules and guideline are there..
those rules and guideline taxes etc are being in developing phrase...

Waiting for all time high

Posted using Partiko Android

Bit coin will rise definitely rise.. but it will take some more time... now the time is versatile for crypto... it will stable and rise again i think.

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Crypto market will definitely bounce back.
And crypto gian bitcoin will do the same...