Did it top the 5grand? reasons for the fast decline afterwards?
RE: Bitcoin tops $5,000 and then promptly sells off 10%
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Bitcoin tops $5,000 and then promptly sells off 10%
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Its how the market works, supply and demand, Buyers drive the price up, but when you run out of buyers theirs only one way to go, its like a re balance. Think of the market as a battle between to teams, buyers and sellers. their whole purpose to find the true value of an item. As more people enter the crypto world and buy buy buy, eventually the buyers run out of power and the sellers take over. With bitcoin being a large portion of the currency used to buy other coins, the rest of the market will be effected by the value of bitcoin. Its all to be expected if you understand whats going on. Its actually a good thing because it also creates a good entry point to buy back in. It will be a short lived re balance of things and the growth will continue. With crypto becoming more and more popular and growing at a rapid pace this happens alot and will continue to happen. Then everyone panics as always and panic sells everything and writes a horror story scaring everyone about how they cant afford dog food anymore and how bad crypto is. While the rest of us laugh as we buy our new corvette
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