Whenever there is a big correction, you’ll hear people trying to cause panic and on the other hand, people that are focusing on the positives.
Today, we are seeing a little of bit of positivity towards the market, the market cap is heading towards 400 billion, the majority of the market is green, with small growths of course. As we said before, it is very important that the market will have a slow but secure recovery, the volatility is not encouraged right now, so it is better that the market or the virtual coins will grow little by little every day, even if it is about 1%.
Bitcoin has decreased with 64.5% since December 17, even if the whole market is collapsing right now. Bitcoin dies and is born just like a Phoenix. According to recent statistics, the virtual coin has deceased not less than 251 times until now.
2017 has been a prophetic year for the virtual coin and it has fallen many times now.
Why the collapse? The crypto economy has been affected by the huge number of negative news. The best example is the recent association between Tether and Bitfinex where the Tether company can’t prove that it holds enough money to ensure USDT funds.
Meanwhile, India has attentively supervising the exchanges transactions and it is estimated they have recently summed 3.5 billion dollars. South Korea is trying to get traders out of the anonymity and all the users are obliged to use their real names.
To all the reasons there are the rumours about the Whales that are trying to manipulate the Bitcoin price to buy even more when the value will be small enough.
These are the main reasons why the market is in a blood bath right now.
Investors themselves are not aware of the concept ‘buy cheap, sell expensive’ but the real question is, how cheap? According to some graphs the longest Bitcoin crash lasted for 411 days and ended in January. The dropping percent was of 87 back then. Currently, we are witnessing a 64.5% drop, which is not as bad as the first one, but still some speculatos are taking it as it would be the end of the cryptocurrency world.
In the crypto case, there are also the regulation endeavours which is a fantastic thing for short-term investors.