Bitcoin Tumbles After Crossing $20K in Topsy-Turvy Trading; How Chinese Universiti Canton Mountain May Impact Ethereum Price

in #crypto2 years ago

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Bitcoin is one of the most important cryptocurrencies and has been trading in a volatile manner between $5,000 and $20,000 over the past few weeks. While it is still at a very high price, we believe that it will be able to reach its peak in the near future.

Bitcoin was created by an anonymous person or persons who have no clue about its real identity. They just want to make money from it by selling it for fiat currency like USD or EURO or some other currencies. However, as soon as bitcoin reaches a certain price level, that person/persons will sell their bitcoins for fiat currency and start buying them again at lower prices than they sold them for initially. This process of selling bitcoins at low prices and buying them back at higher ones is known as "topsy- turvy" trading. As a result, the bitcoins may reach a price level that is far higher than its original value, thereby "dumping" them to the market at lower prices. This process happens when bitcoin reaches some price level that people want to sell it for but can't find anyone willing to buy it at. These bitcoins will get dumped in the market and become very cheap. After a period of time, the price will recover and people will start buying them again. This is by design in bitcoin - it's how the system works.If you're interested in understanding more about why this happens,

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