Cryptocurrency prices hits a new low value

in #india2 years ago

The cryptocurrencies market is falling drastically for the past few days and today it has reached a new low value. The main reason for this fall is the panic situation happening among the investors. Even if it is a loss lots of investors are ready to sell their holdings. The fall is not only on the Bitcoin price but all on altcoins as well. Though we all know that cryptocurrencies have a very good future due to the emerging blockchain technology, people are just panic and are worried about the further decline of the prices. There are also some people who are planning to sell their holdings now and buy back when the price hits even lower than this. This is the reason why continuous selling is happening.

This is definitely not going to be the end for cryptocurrencies so, in my opinion, this is the right opportunity for new investors. There is good news all over the world about blockchain technology and cryptocurrencies. Many countries have already started exploring blockchain projects. Some of the countries have already started implementing new projects based on the blockchain. With the existing blockchains available, people have already started to develop many dapps. It is expected that in the near future there will be lots of job opportunities for new blockchain developers. Even the government is starting to recruit top developers to work on blockchain-based applications.

Is it a good opportunity to buy?

The price of cryptocurrencies is similar to that of other markets as well. It is based on supply and demand. If there are more buyers the price of a cryptocurrency will increase. If there are more sellers, the price of a cryptocurrency will fall. This is a common thing that happens globally. There was also a recent article about bitcoin becoming the decentralized common cryptocurrency for the whole world to transact. Apart from the regular fiat transactions, people might start using Bitcoins effectively in the future to solve their financial transactional needs.

In my suggestion, considering all the positive things that are happening around the world, I recommend investing in cryptocurrencies now to get a good value in the future. I know few people who invested on bitcoin a few years back and how they are today. Of course, they did not stop with bitcoin, they also explored various other cryptocurrencies as well. These people who were persistent on the crypto market are now multi-millionaires. They did not stop even after that, they have started to invest in other technology-based ICOs and blockchain based companies.

Last time when the crypto prices fell, people again fell panic and sold their holdings. Some people even quit investing in cryptocurrencies. But there were few people who were persistent and accumulated few more holdings and made a good profit out of it. The zig-zag move is happening for the past few months where Bitcoin price hits 6500 $ mark and then raises till 8000 $. Even last week the price was 8000 $. People are using this opportunity to make short-term gains.

Image Source: [1], [2], [3]

Posted from my blog with SteemPress :


This post has been rewarded with 100% upvote from @indiaunited-bot community account. We are happy to have you as one of the valuable member of the community.

If you would like to delegate to @IndiaUnited you can do so by clicking on the following links: 5SP, 10SP, 15SP, 20SP 25SP, 50SP, 100SP, 250SP. Be sure to leave at least 50SP undelegated on your account.

Please contribute to the community by upvoting this comment and posts made by @indiaunited.

It looks like this time the fall followed the rejection of BTC ETF by the SEC.

Also the pump and dump schemes like this one

Cryptocurrency price makes them the most volatile assets. They have no use till then except to pump and dump. Without addressing this problem cryptos can never take place of fiats.

I hope crypto will not let down its investors

Congratulations! This post has been upvoted from the communal account, @minnowsupport, by bala41288 from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.

If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.

wish that it will increase towards december like last year :)