Bitcoin drop below 7k $ ? Is this the end?

Bitcoin droped to 7.7 k $ this morning pulling other altcoins with it to a record low value since the start of the year, but will this be it or will bitcoin go below 7k?

It is scarry i know Btc was at a price of almost 20k $ not a long time ago.

As a news sensitive currency it wasn't a surprise seeing it drop to a value of 8k $ since in the weeks following the fall u could only find a handfull of positive articles related to it.

Few weeks ago when there where speculations regarding South Korea ban of cryprocurency trading, the market got shaked and the bitcoin droped to 8.5 k but rapidly recovered to a value around 12 k $.

Now we have similar scenario at hand, a flood of bad news inflated by media in search of sensation like India baning bitcoin, China firewalled cryptoexchanges and other crypto related sites, major banks baning creditcard customers from buying Btc, trying to present it like the bubble is bursting and it is the end of BTC, is nothing more than a bumps on the road of cryptocurency market growth.

Let me explain, cryptomarket is a global market too big for any country itself to control or manipulate so G10,12,20 or what so ever are making effort to regulate the use of cryptocurency so they get it under goverment control as much as posible (i mean there must be some order even in the crypto world).

So any gowermant officials statemants regarding the use of Btc in their country or how they consider it an illegal mean of payment can't be interpreted any other way than a need for legislation.

Banks are doing the same in effort to control Btc they ban creditcard customers to buy it in fear of big loses, and since almost everyone is a creditcard customer u see the point.

China, no words needed here, China bans everything anytime.

All of this discouraging news are making people who intended to buy Btc or any other altcoin not to do so and making some who already have it to sell at any price availabel at exchanges whitch in the simple law of market trading (high offer low bid) is making a Btc price go down to a minimun value of 7.5 k $ this moment.

But what has passed unnoticed is that the trading volume droped too. So that means only one thing not everyone is selling, HODL brothers HDOL, so in my opinion only the ones who must are selling and since there is a low demand the price is still droping.

Not only that but the number od registred users on exchanges has grown almost as Btc itself in the last year which indicates this is not the end of cryptocurencies.

How long will the crisis last?

Well don't get me wrong i love that Btc and other altcoins are low at this moment which gives me a great opportunity to buy at low price, the 20k isn't the best buying price if u understand me.

In my opinion since there is low demand and everyday flood of bad news it might be a while untill crypromarket recovers so it wouldn't be a surprise if Btc price drop to 6k or 5k ( don't be scared i don't know that) but i doubt it will ever drop to 900 $ which it was this time last year, yes 900 $ compared to 5k, 6k still a good investment.

And in the end the most important thing is u do not invest your money in a bunch of numbers on a computer screen in a wallet somewhere, u invest in a project and the people behind the coin and anyone who did the reserch knows that there are at least 100+ great projects in a crypto world at this moment developing more and more every day.