The price charts of every cryptocurrency are like a bloodbath. Since the beginning of this year, bitcoin is coming down and fall to more than 50% and cut more than $100 billion in the market capitalization. As when I am writing this post BTC price is $6400.
Not limited to bitcoin...
The falling is not limited to bitcoin Ether as recorded its all-time high $1400 in Jan. 2018 also fallen more than half of its price.
Another coin XRP Ripple also reached nearly $4 in the year beginning but it dropped more than 90% from its peak. The same bloodbath continued to all other coins.
What is the reason?
There is not only one single reason for the falling. Here are the few factors:
The entry of Future Contracts:
We know every time whales are manipulating the market again and again. As we normal traders easily get emotions and they will cash our sell trades. As the new users enter the market they not understood this scenario and got the loss in the end. Now Future Contracts are very much manipulating the market, we have to be patient and get good returns.
ICOs are making liquidations
During this year there are so many ICOs collected large funds in the form of cryptocurrencies. Now the companies are liquidating funds to meet their financial needs. So it is badly impacting on the crypto market. For an example take Ethereum is collected so many ICOs during their token sales, so its price reached the all-time high. Now its price dropped more than 80%.
Negativity Feedback among investors
The negative sentiment also dropped BTC price. In some countries banned crypto trading and also stopped services to the crypto exchanges. For an example in India’s Central Bank RBI has given instructions to the banks to stop financial services to the crypto exchanges.
Bottom line
We know up and down are there in every field. As crypto-field is not only always up it may sometimes go down also. See you friends and make good profits in the crypto field.
What is the price of bitcoin at the end of this year? Comment your prediction in the comment section.
Thank you for reading my blog
Ramanjaneyulu Kanike @ramanjan-kanike
amazing blog you show marits and demarits both
see my posts upvote and follow if you like it
https://steemit.com/india/@theorignal/4rmxed
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Great work
Posted using Partiko Android
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
nice & helpful article sir, keep making such good posts
if you have time please visit @thenuclear posts, i'll be thankful to you
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
hi @thenuclear
thank you for reading my blog. I will try my level best to keep the best content the community. Surely I will visit your profile and also I will fallow you
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you very much
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Cryptocurrency is here to stay
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
crypto is the future.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Good post @ramanjan-kanike
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations @ramanjan-kanike! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :
Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word
STOPDownvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Great article @ramanjan-kanike my friend
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
thank you friend, @flash07
supporting me on steemit. I will do my level best to give the community the best content
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I think smart contract is future, any new ICO related tell me
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Good analysis. Crypto market is very volatile now.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I hope market will grow soon
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
yes, we will hope the market will grow soon there will be good return for crypto lovers
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit