Hello everyone! I want to share the news with you! And also to hear the opinion of those who already know about all this. What is your opinion on this matter and what would you advise other fans of cryptocurrency?
The current collapse in the value of cryptocurrencies does not mean the end of the crypto market, however, the correction may drag on for several months, and there are two scenarios for further developments.
The decline in the value of bitcoin began after renewing its all-time high of $ 64,854 in mid-April. The correction turned into massive sales amid, among other things, statements by the head of Tesla, Elon Musk, about the suspension of the sale of electric vehicles produced by the company for bitcoins. Bitcoin price dropped to $ 30,000 this week following a statement from the Chinese Internet and banking industry associations that financial and payment institutions should not accept cryptocurrencies as payment or offer related services and products.
The current crash will end with institutional investors gaining better positions and continuing to hold them for a long time. If you look at the history of BTC movement, you can see that the asset itself is very volatile and there have been such drawdowns more than once. So to say that this is another end of the crypto market, I think, is not necessary, rather it is a way to knock opponents out of the market.
Here are the news friends! So what will the future hold for bitcoin and altcoins? What do you think about this?
I think, that you right at this question!
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