🔲 WHY IS BITCOIN CRASHING?

in cryptocurrency •  2 years ago 

Yeah well if you have not noticed yet bitcoin has dropped from $4880 all the way down to $4180 that is a $700 decline!

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So why is this happening? Almost all crypto's are crashing! China has banned ICO's in their county as they view it as an illegitimate way of raising funds... I somehow doubt china's ban will last very long and regardless I expect all cryptos to rise once again over the next few weeks!

Is this a bad thing?

Well weather you have a current investment or not, no it is not. The currencies will recover. If you have no current investment on any crypto's at the moment I would suggest purchasing them now! Its a great chance to make a 10% gain in less than a week!

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nice photo

Thanks lol

Yes - I am buying Litecoin on these dips. up-voted and followed.

Definitely a great idea, I have tripled my money trading CFD with this market!

But see it was 700$ not that long time ago, in the long term it's not a big dump.

Sure in the long term, but imagine trading BTC as a CFD, a 10% fluctuation over 24 hours is massive, you could easily turn $1000 into $100 000 in a day with that sort of fluctuation.

great

Thanks for sharing. 😌

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Just blame China.. LOL. But that is quite a drop hey! My crypto went down a lot this last few days.

Upvoted!

Absolutely agree.. this is common in any trading market. Patience is key as it will recover the lost ground and it certainly a good time to buy up some coin.