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Everybody's Worried About Bitcoin Сrash Except Bitcoin And The Market Itself

23 November 2018 16:23, UTC
Everybody's Worried About Bitcoin Сrash Except Bitcoin And The Market Itself

Over the past couple of weeks, the cryptocurrency market has been deeply and densely coloured in a multi-layered red. For several months, we have observed flattening, but the innovations did not happen to change the way the crypto investors had expected it. Bitter disappointment overtook those who shouted HODL desperately, due to a sudden downwards plunge. A number of serious problems also arose in light of these events, those including issues with the ICO startups and miners. Bearish mood is not about condescending yet — the Bitcoin rate presents new annual minimums almost every day, and the capitalization of the entire crypto market declines to $140 billion.

There were various reasons to be named: Bitcoin Cash hardfork, mining pools’ disablement, New Year’s and Christmas coming, and, of course, cartel arrangements and speculative manipulations. Many crypto investors and traders faced losses. The opponents of the crypto industry gleefully gloat.

However, there are positive moments in this situation — the enthusiasts propose to see new opportunities and enter in the market position. According to analysts, the crypto market was in a need of such a situation in order to cut away random characters, as well as to get rid of the irrelevant and failed projects. This will improve the industry and make it possible to make a new upward leap. Everybody have been waiting for that for quite a long time.

TOON by Maxim Smagin

Winter On The Bear Dominated Market or What To Do With Bitcoin

This week started with a bang: a real bloodbath has begun on the cryptomarket. Substantial support level at the $6,000 mark? Gone and forgotten, that became history after massive sales that led to the enormous slump of the prices: аt the moment of publishing bitcoin was exchanging hands for $4,516 per coin, ethereum dropped even harder, to the low-low price of $132 per coin.

Obviously, that led to the FUD on the market. Optimists consider this as a plus since they promise a massive rebound of the market at the end of this trend, while pessimists preach about the upcoming end of all crypto. Experts are not sure what to think either -  and either don’t answer at all or make nervous jokes. One of the experts who we asked about this topic, Dr. Mattia RATTAGGI, holds a PhD in economics and has more than 25 years of experience in finance commented it this way: “Future is uncertain and hard to predict, and that's not only about the market, I am talking about forks too” (read more)

Raiders Attack: Who Will Benefit From Bitcoin Crash

A few days ago, the head of the IMF, Christine LAGARDE, on the official page of the fund, announced the enormous potential of new financial technologies: “The blockchain will help financial markets function more efficiently, and self-completing smart contracts can eliminate the need for some intermediaries.” And cryptocurrencies, in her opinion, "will lead to a diversification of the financial landscape. This will improve the balance between centralized and decentralized service providers in the financial ecosystem, which will become more efficient and reliable in threats countermeasures." Before one had a chance to surprise how the paradigm would change, as four days later, the rate of the main virtual currencies dropped on the spot although everything should have happened just the other way around.

As early as a month ago, Christine LAGARDE called the same cryptocurrencies to be almost the main threat to the stability of the financial system. Moreover, she predicted almost a great depression from their excessive use. What made the official of this level turn from an opponent of decentralized digital currencies into almost a crypto-enthusiast? In any words of a major official or politician, not only the text matters but also the context, that is, the time and place where they were said. And it happened after the Singaporean ASEAN summit, which was preceded by the largest FinTech festival in the history, held under the Ripple sign. The fact that this company is affiliated with Washington is no news for anyone anymore. Just look at the team involved in this project (read more)

Bitcoin Rally: One Man’s Hell Is Another Man’s Heaven

The recent hardfork of Bitcoin Cash led to the fall of the entire crypto market, the capitalization of which declined by 31% after the week since the event - from $210 bn on 14th of November to $144.4 bn on the 20th. Why did the division of the once fourth-largest cryptocurrency transactions into two different coins provoke such a significant collapse?

In pursuit of their business interests, each of the opposing camps stated that his view of the further development of BCH was the only true one, and in the competition of the two technologies only one must survive so that the hashwar began. Each side started to build up its computing power to gain control of 51% of the network in order to make a “51% attack”, which would lead to the destruction of the opponent. Before the fork, the BCHSV supporters controlled 75% of all BCH hashrate (read more)

How Should ICOs & Investors Handle a Bear Market

November 2018 has been one of those very bearish months during 2018, in this month alone the market has dropped from around $220 bln to 140 bln, or more than 35% has been lost within almost a single week. Many reasons has been attributed to this massive sell-off, some suggest that it is due to the Bitcoin Cash controversial hard fork, while others attribute it to simply Fibonacci sequences where the next resistance level is where we are currently. Lastly, some analysts suggest that Christmas and New Year are coming and people want to have a peace of mind by holding on their cash. Regardless to what has really caused this bloodshed in the market, what should ICO Entrepreneurs & Investors do at this stage? (read more)

Who Crashed The Crypto Market And How To Save Assets

The drawdowns and financial bubbles inflating are a common situation on the cryptocurrency market, which usually has cause-and-effect relationships. But not this time: after a few weeks of peace and quiet bitcoin just dramatically flew down. For no particular reason. But on the other hand, if the reasons are not visible, it does not mean that they don't exist.

Just recently, crypto market players have believed in the illusion that the world is on the verge of adopting a digital economy. But the bitcoin rate that crashed pulling the entire market, quickly brought it back to reality. Cryptocurrency ecosystem participants actively began to look for reasons of this situation, finding a lot of them: from intentional market manipulation, bitcoin whales gameplays and bankers conspiracy to players collusion with the aim of cleaning up the crypto market from its unscrupulous participants. But if we discard the numerous conspiracy theories, there are no so many reasons for real ones (read more)

Read the best crypto news analysis here! bitnewstoday.com Bitcoin, investments, regulation and other cryptocurrencies
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