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Crashing
You remember all those projections people had where Bitcoin was headed towards $20,000? What about $100,000+? Well Bitcoin is charting its own path, at least for now. I'm not saying it won't rise from the ashes to be king of the hill again which I guess you can say it still kinda is but man this market hates us all. LOL. I brought this up because I came across an article describing some of the reasons why Bitcoin has been struggling as of late. Here is my take for you on exactly that. Much love.
Do you feel heavy regulations will help or hurt crypto in the future?
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One of the groups that the price drops are hurting the most are the miners. In some areas it's not even profitable to mine if you're selling right away. You might get your money back if you hold until it goes up, but for now things aren't looking good.
I was hoping that Steem was going to drop below $1 and I was thinking of picking some up.
I'm still opposed to a bunch of regulations on cryptos. I think that's going to slow the progress of crypto, but that's just my opinion.
I heard that the price of Bitcoin was being propped up by Tether. Any time the price of BTC was dropping in major ways, a bunch more tethers were printed and used to buy BTC. That was from a University of Texas, Austin study.
https://www.coindesk.com/study-claims-tether-props-bitcoins-price-in-market-downturns/
Yes, the situation with the value of crypto currency looks depressing. When there was growth, many supporters said that growth will continue. But alas it did not become. Nevertheless, the "bearish trend" is continuing now. However, I believe that big players can change the situation ... if they want.
@humanearl, Currently crypto price being big drop. It can be. Also price bounce possible one. I most believe price will up soon.
Well as it seems it sure will get up and some of the reasons are indeed very strong that it might stay this way for some time , while lets hope for the best as I must say !
I believe that some manipulation is possible. The fact that the system is decentralized makes it easier to hide the manipulation. There is no way to know who actually owns what, it is just a wallet address.
If enough big players decided to act together they can get the market to do what they want. The market will remain extremely volatile until there is acceptance of crypto in the mainstream.
Regulations will always hurt in the meantime but what ever goes up has to come down but that's how life works
@humanearl - Sir price drop is a nature of any market... Therefore, we must not be panic...
+W+
This is a time for buy dip and keep hodl your cryptocurrencies. Every markets down sometimes. For crypto markets can be it. So better thing is create your own research way and then be patience.
@humanearl Just as easily as it fell, it can also rise. It is like any other market that is openly traded. I am sure there are also people making a killing in this market as well.
Where are you from?