why is Bitcoin and aisle cryptocurrency crashing
what can we expect in the future and more importantly what is causing all this what’s going on guys. These cryptocurrency markets as we all know everything is down pretty much double digits on the day Bitcoin theory him down over 16% ripple card on o nem are all down over 20%.
So I just kind of want to address all these things sure why I think this is happening what can what we can expect in the future from all the crypto currencies in general now before I get into the video. I just want to tell you guys to relax if you’re especially if you’re new to cryptocurrency because this is something that inevitably has to happen with any market. There’s going to be booms and dips and for those of us. who have been in cryptocurrency for a year or longer we’ve all lived through huge crashes and we’ve all come out on the other end with more money than when we started because over the long term .Bitcoin is appreciating in value even though there are short-term crashes and dips and when something like this happens it’s important not to let your emotions get in the way the worst thing you can do is start to panic that you’re going to lose all your money and sell your Bitcoin at a lower price because if you do that you’re guaranteed to lose money.
Because the Bitcoin price is going to go back up and then what’s going to happen is you saw their Bitcoin at a lower price. It starts to go back up and you’ve realized oh no what have I done so you buy back in at a higher price than what you sold for and you end up losing money. So in this situation we need to not let our emotions get in the way and we need to huddle we need to hold our cryptocurrency because we’re in it for the long term now it’s important to remember that just three months ago Bitcoin was only $5,500 give or take so we still the Bitcoin price is double.
Now than what it was three months ago so again on the on a three month time frame we’re doing absolutely amazing another thing to keep in mind. If we look at the one-year actually this is not one year let’s go to the one year right here we can see that in the one year chart there have been many he crashes now of course the market cap was much lower back then so back in May. when the total market cap was only forty four billion and the price of Bitcoin was two thousand seven hundred and then it dipped all the way down to went from forty four billion all the way down to thirty three billion and we saw a price drop of seven hundred dollars and that was a big deal back then given the current size of the total market and we can see along the entire year every time Bitcoin reaches a new high like it got to four thousand four hundred dollars and then it dropped all the way back down to three thousand eight hundred seventy eight dollars basically.
What’s happening is the crashes and the corrections are proportionate to the total market cap so now that the market cap of Bitcoin reached you know it reached three hundred and twenty eight billion dollars at one point so now when we have Corrections of course they’re gonna be much more dramatic on paper we’re gonna see drops of a lot more money but the percentages are pretty much the same so just the things to keep in mind in situations like this now the best thing you can do is keep calm and If you’re obsessed with checking point market cap my suggestion is don’t check it more than once a day twice a day tops because if you keep checking it your emotions are inevitably going to get involved and then you’re gonna panic cell and you’ll end up in a bad situation So what is causing this and what can we expect in the future well there’s a few news articles that have been brought to my attention this one right here Bitcoin trading quote could be banned in China
As threat of Asian market crackdown pushes down price so this was published three hours ago and it says China is planning to cut off domestic access to platforms and exchanges that enable people to trade digital currencies Bitcoin and all other major digital currencies plummeted after it emerged that trading could be banned in South Korea. Now I talked about this a little bit last week apparently the government there’s more rhetoric about banning Bitcoin and again guys things like this have happened in the past and they’ve always had the same effect on the market which is a temporary crash or a temporary dip and again
It’s just because people are scared they’re uncertain and they come doubtful you know thud fear uncertainty doubt and when that happens people start to sell but we always see the market correct itself because it is a decentralized free market and naturally a market like that will tend to correct itself and we will see the price go back up as cryptocurrency becomes more widely adopted by people again another article published today Beijing wants to kick Bitcoin out of China Chinese authorities are reportedly any to completely ban centralized trading of virtual currencies as well as individuals and businesses that provide related services. so again this is nothing that set in stone here over in the Asian countries but there’s talks about it and it’s just causing a little stir up in the market again we have another article here Bitcoin price live Bitcoin drops two thousand dollars as yet another hack attacks another hack attack rocks crypto currencies so apparently yesterday evening a digital wallet provider called black wallet was hacked in over $400,000 of stellar lumen was stolen by the hackers so this could be another reason
Why the cryptocurrency markets are just totally in the red right now there’s just a lot of things that are going on that are causing people to want to sell the cryptocurrency now in my opinion guys I’ve seen things like this happen over and over again and inevitably the result is always the same which is within a week or so we see the price go back up and oftentimes after huge dips we see a new all-time high and I’m expecting to see a new all-time high in February so I’m holding my Bitcoin and I’m actually buying Bitcoin right now because I’m pretty confident that if I buy Bitcoin now at this low price come February or March.
When we hit a new all-time high in my opinion I would have made a lot of profit on my Bitcoin now I’m going to end this video on a positive note another article that was published today says Bitcoin headed to $100,000 in 2018 says analysts who predicted last year’s price rise so apparently Kevin Pietersen and an analyst said back in December 2016 that Bitcoin would reach 2000 dollars in 2017 and of course that happened five months later it’s pretty amazing to think that back in May 2017. Bitcoin was over two thousand dollars but of course you know at the beginning of 2017 two thousand dollars seemed unreachable so now she’s saying it could hit $100,000 by two hundred eighteen and if she’s off by as much as she was in 2017 I mean we might even see a five hundred thousand dollar.
Bitcoin in 2018 so long term I remain bullish on Bitcoin and on cryptocurrency in general because I know that this technology is here to stay and I know that as more and more people become aware of this technology more and more people are going to buy into it we’ve seen hundreds of billions of dollars flow into the cryptocurrency market just in the past few months and obviously when things happen you know when news gets out you know like what’s happening in China and South Korea and what happened with the stellar lumens being stolen you know we see things like this happen just remember to relax and don’t let your emotions get involved again guys if you enjoy this kind of cryptocurrency content make sure to hit.
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