HomeBuisnessWill Bitcoin Crash Continue...

Will Bitcoin Crash Continue or it Would Make Another High in the Coming Weeks ,Also Know the Reason Behind the Fall

Bitcoins, the most speculative assets of the market have gained enormous admiration over the last decade.  Recently the market has seen the worst crash of all time and according to economists, the next crash is going to be the sharpest crash the market has ever seen. The whole cryptocurrency’s value has gone down by more than 100 billion dollars since it last hit its all-time peak above $58,000. The whole market has dropped about 20% in the last week.

Will Bitcoin Crash Continue or it Would Make Another High in the Coming Weeks ,Also Know the Reason Behind the Fall

After the initial massive shoot-up in the graphs for bitcoins, this 20% drop was certainly not what anyone expected but with how volatile the market these pullbacks were expected. “Bitcoin has plummeted from its all-time high (ATH) of $58,350 last Sunday to today’s low of $43,189 per unit”.Citi analysts predict the price of Bitcoin at the level of $300,000 at the end of 2021.

Recent Situation:

  • Earlier this year the market crashed and all the big investors and hedge funds rushed to leverage their bets (sell positions for more liquidity). And in response to that, the bitcoin market shot up. More and more investors like Micheal Saylor who owns a multi-million dollar software company, organizations like PayPal and Visa, and even the Government of Miami put their treasury into the cryptocurrency market.
  • Another reason for this year’s bitcoin spike up was peculiarly Elon Musk, the CEO of Tesla and one of the Richest Man in the whole world. He tweeted in support of the cryptocurrency and also invested bitcoins the past few weeks. Elon Musk’s Tesla had invested $1.5 billion in Bitcoin and it made the company’s value jump off above almost one trillion dollars and also made the cryptocurrency market boost up to its all-time high.
  • Elon invested for a reason that Tesla was losing millions of dollars per year because of the current inflation and he wanted to retrieve this money and rather put it into something more liquid something which will benefit the company in near future.

Will Bitcoin Crash Continue or it Would Make Another High in the Coming Weeks ,Also Know the Reason Behind the Fall

Reasons behind Bitcoin Crash:

As mentioned above the cryptocurrency market dropped about 20%. Reasons for the crash:

  1. Funding Stress: When the market crash all investors and traders are looking for leveraging their positions and even though bitcoins are highly speculative they’re considered a safe haven. More and more investments overheated the market and eventually, the market went downwards.
  2. Government: Recently Janet Yellen, US treasury secretary and former chairman of the federal reserve spoke about bitcoins, she said that a high percentage of bitcoins are used for criminal/illegal activities which according to many is false and one shall agree as most of the investors of bitcoin are major brokerages and multi-million, well-reputed organizations and individuals thus, making the transactions legal for the most percentage.

Further, she added that bitcoins are not efficient and thus, people backed out from investing in the cryptocurrency because someone like Janet holds a lot of credibility and has that influence on people to make them listen.

Conclusion:

Even though the market is bearish at the moment, with bitcoins one can never predict, they’re called the most speculative for a reason, and thus, nothing can be confirmed the market is said to be overheated since the investments just shot up in a very short period of time and now people should be a little cautious while investing looking at the decline in the past few days.

So, whatever happens in the market now totally depends on the investors themselves but one thing is for sure if there are investors like Elon Musk and Micheal Saylor in the market bitcoins will for sure have a positive outcome moreover pullbacks like this was most likely to happen anyway cause that’s how the market works.

Stay connected with Eve Donus Film for more latest updates.

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

Daniel Craig’s Best Movies

Rugged Englishman Daniel Craig has become synonymous with the 007 handle...

When Will Bitcoin Reach 1 Million

The recent bitcoin CRYPTO: BTC is priced more than $35,000, which is...

Will Shiba Inu reach $1?

Shiba Inu is among the most precious cryptos having almost $19...

ZIL to USDT: What Should You Know?

A cryptocurrency trade platform or an exchange is a site that...

Read Now

Daniel Craig’s Best Movies

Rugged Englishman Daniel Craig has become synonymous with the 007 handle over the past 15 years. However, he had to fight off competition from bigger names, such as Hugh Jackman, to wear the coveted Bond suit. With the end of Pierce Brosnan’s reign as Bond, producers wanted to...

When Will Bitcoin Reach 1 Million

The recent bitcoin CRYPTO: BTC is priced more than $35,000, which is already a considerable amount for numerous analysts. They are inclined to indicate an absence of fundamental designed topics and appeals for the bitcoin system as evidence that the network is slightly extra than the Ponzi method....

Will Shiba Inu reach $1?

Shiba Inu is among the most precious cryptos having almost $19 billion as its market value. After it hit a low in 2020 November, the price of the token rose 60,000,000 %. It means a $17 investment in Shiba Inu in 2020 today will be $10 million...

ZIL to USDT: What Should You Know?

A cryptocurrency trade platform or an exchange is a site that lets you buy or sell digital assets. The pricing of cryptocurrencies here on exchanges is based on current market values. You may use exchanges to swap one cryptocurrency for another. For example, changing ZIL to USDT...

Decentraland (MANA) — Cryptocurrency, Project Review

Decentrlaland has developed and launched a virtual reality gaming platform on the Ethereum blockchain. The application allows the creation of any program. They can be used in the game's reality and monetized. The project has virtual land plots, called LAND, on which users build objects and live...

War of The Worlds season 3 release date: Renewal of Epix series

After the huge success of its season 2 that turned over Epix, the next big thing every fan wants to know is when War of The Worlds season 3 would arrive. And, when the popular network announced that they are bringing back the show for its next...

Invincible season 2 release date, Story everthing you need to know

The Invincible show is based on a comic series written by Robert Kirkman and the creator of many shows. Season 1 shows immense excitement among viewers due to its unique story of superheroism with darker and violent themes and portrays a pretty good sense of humor. And,...

The best motivational films for students based on actual events

In moments of heavy study load, you need to find ways to recharge your mind with energy and resources so that you can get back to productive work with renewed drive. One such way is to watch a good movie with the whole family.  In our selection, you...

Farmville2 country escape cheat codes list

FarmVille2 Country Escape is a cultivating test system game. The Game was created by Zynga Games and continues the popular game. FarmVille2 Country escape is presently intended for Android/iOS and Windows Mobile. This Game has more than 25 million players around the world. To utilize the hack apparatus...

Departure season 3 Release Date Confirmed on Not ??

Departure - A drama series enriched with mystery and created by Vince Shiao. The entire series follows Kendra Malley, a very talented investigator and a single mother who deals with pretty tough disaster investigations and can uncover all sorts of truth over every odd. This International series...

Demon Slayer Season 2 Everything to know so far about latest episodes

The most famous anime Demon Slayer: Kimetsu no Yaiba, popularly known for the short title Demon Slayer, captures the world at an alarming rate. After the immense fame of manga, this television adaptation became a quick hit in Japan and has achieved tremendous success in the U.S....

Redo Healer Season 2 Whole we know about; Release Date & Cast

Redo Healer, widely known as Kaifuka sushi noyarinaoshi. Redo Healer come under the Series of the light novel. It is more famous in Japan and novel to the genre of Dark Fantasy. However, the Anime adaptation of the Series is well-recognised world worldwide. Rui Tsukiyo penned the...