omg fuck i m down i have invested so much money on bit coin but now
i feel my money are being wasted can some body explain me?
why bitcoin is crashing?
8 years ago by jacker (44)
$0.11
- Past Payouts $0.11
- - Author $0.10
- - Curators $0.01
It just hit its resistance levels. That usually means that it went up too fast in a short time. After this it usually bounces a bit. Have fun out there and good luck with your future posts!
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thank u bro hope it will go up soon
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Relax, its not crashing. This is normal volatility. If you are having heartburn from the volatility, reassess your position size. Don't put money in cryptos that you can't afford to lose.
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This article probably explains why, hope it helps you understand : https://www.thestreet.com/story/14180655/1/bitcoin-extends-weekly-decline-past-600-as-u-s-dollar-rebounds-after-fed-hike.html
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I'm by no means an expert but there could be a couple reasons:
Price correction - Cryptocurrency has been skyrocketing because of its press and "get rich quick" claims but it can't continue to claim purely based on hype that's the first ingredient of a delicious bubble. TBH, from a long-term perspective the adjustment isn't bad. Over a 30-day period Bitcoin is still up. But I guess if you bought at $2,800 or $3,000 then yes it could suck... I'm not an analyst so I have no idea if it'll go up again or not (I mean, I have personal opinions but I don't spread those opinions around like advice because I'm probably as clueless as the next guy).
Recent DDoS Attack on Bitfinex - Bitfinex (the largest crypto exchange) suffered a recent DDoS and it might've sent some users into panic as they couldn't access the website anymore. Others might've read about it in the news and started selling because they don't know what a DDoS really is and wanted to unload their coins before "their account got hacked and they lost all their bitcoins" (don't worry, a DDoS doesn't do that you can read more about that in my DDoS post - https://steemit.com/cryptocurrency/@thekenny/what-is-a-ddos)
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thanks man. i got my answer, up vote me also.
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Done :)
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It is normal. Markets go up and they go down. If you don't get these simple points you should not be investing.
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