Crypto market is falling, the news is everywhere.
There are several reasons why the market is having bearish trend:
News of banning cryptos in South Korea, India and China.
Some big European countries indicating that they are preparing crackdowns on digital currencies.
Banks in the UK are giving mixed signals to cryptocurrency investors. Some have announced that they will no longer allow purchases to be made for digital currencies such as Bitcoin and Ethereum using their credit cards. Meanwhile, others have stated that they will enforce no such ban and as long as the transactions made abide by anti-money laundering legislation, purchases will still be possible.
Panic selling of new investors.
Scams, hacking of exchanges, withdrawals halted by exchanges etc.
This is by no means the first crash to hit the virtual coins. A similar slum occurred in last September when China banned start-up cryptos. The market then rebounded, with digital tokens reaching the record prices. Too Bullish , a pullback is eminent, but it also works in reverse as well, too bearish , a reversal is eminent. But where, when, and how are only probable guesses.
Whether this dip points towards a long-term decline, or the market will rise back at some point, depends on whether the crypto has the potential to take in more market value in the coming time.
Cryptos are here to stay. They will only get bigger, more ubiquitous, and more well adopted with time. As they grow, we will for sure continue to see fluctuations. The only thing is going to happen is that many bad projects will die, change or evolve but the market will continue to grow. These dips are where smart mind buys in.