Why does bitcoin fall and other currencies fall
according to foreign media reports, on Monday, the price of bitcoin fell to $2526.4, with a maximum decline of 14.5%, which created the biggest decline since January 2015. A few days ago, the price of bitcoin just broke the $3000 mark, a new record, but then plummeted by more than 30%. As of the 16th of this week, the market value of bitcoin has evaporated $10 billion, almost equal to the market value of social software Twitter's $12 billion
the other reasons for the sharp decline include the sharp decline of US technology stocks and the poor outlook of investment banks on the special currency. Morgan Stanley said that "the virtual currency is like the currency of the wild west", which needs to be regulated before it can continue to rise. The previous price surge may be caused by speculation and not easy to sell
it is worth mentioning that bitcoin is not the only one that has plummeted. It is said that the prices of other digital currencies have also fallen considerably
there are risks in investment, so you need to be careful when entering
There are many reasons for bitcoin's collapse. I think it is mainly because it has no government policy support, the conflict between cash bitcoin and virtual bitcoin, and the decline of public confidence in it. First of all, bitcoin is not supported by the government. It is not protected by relevant government policies. In China, the protection of the government is a big protective film. With policy protection, the impact of this slump will be minimized, and the government will share part of the pressure{ RRRRR}
in any case, there are a lot of reasons for bitcoin's collapse, and each has its own views
It's not surprising that bitcoin has dropped by more than 10%, because bitcoin just rose by more than 20% not long ago, so a 10% drop can only be regarded as a correction, not a drop. But what's the fundamental reason for bitcoin's decline? Now I'd like to talk about my personal views and ideas on the issue of bitcoin for your reference and discussion only
summary of problems
the reason for bitcoin's collapse is that it rose too fast, so it led to a significant correction. It's not surprising. After all, no commodity can continue to rise, and bitcoin is the same. If you think bitcoin can still rise, I won't express my opinion, but you have to think of today's collapse, Because it is very likely that one day, you will also encounter the same slump of 10% or more as today, so investment should be cautious, especially for this kind of virtual investment procts. If you are not careful, you may lose your fortune. The above is my personal views and ideas, for your reference and discussion only
The sharp drop in the price of bitcoin will affect the stock market, and the funds that buy bitcoin and the blocks related to blockchain will fall e to the sharp drop in the price of bitcoin
with the continuous development of science and technology and the emergence of emerging instries, bitcoin, as an emerging instry, has attracted the attention of many people. Bitcoin has increased tens of thousands of times in more than ten years, which makes many people feel incredible. Bitcoin has also become a symbol of wealth in everyone's mind. The sharp drop in the price of bitcoin will have an impact on the stock market, especially on the bitcoin funds and blockchain technology, which are closely related to bitcoin. The sharp drop in bitcoin will also cause investors' losses
According to
crypto cred, this situation may indicate that there is not enough momentum to do long in the market
in addition, crypto cred also believes that the consolidation of bitcoin in the previous three months is a range consolidation, not a triangle consolidation, so once the horizontal support line is broken, the market sentiment will become very pessimistic
crypto cred also pointed out that in the daily K-line chart of bitcoin in September, the closing price of 24 days was lower than that of the previous day, which also showed that the whole trend was developing in a bad direction
Future trend, how to develop< p> Ledger status points out that bitcoin's stepping back into the $8000 or even lower range is likely to prepare for future actionshe believes that bulls need to take back several key positions first. First, bitcoin needs to go back above $8400, which is the 200 day moving average
he explained that if the price of bitcoin could get back to $8400, it could rise rapidly and retest $9400. After that, if bitcoin can further break through the previous integration range, it is very likely to create a new annual high
However, unfortunately, the 200 day moving average is becoming a strong resistance line. If bitcoin fails to break through this position, it is likely to go further down to the low of $6000however, ledger status also points out that even if bitcoin goes further down to $6000, technically speaking, the long-term bullish trend has not been broken. He said,
"I remain bullish for a long time, unless bitcoin falls below its 200 week moving average (currently about $4600 and is still climbing), which marks the bottom of the first two bear markets."
finally, ledger status said that if the price of bitcoin can rebound above the 200 day and 20 week moving average, it will be quite optimistic for the market
up to now, the price of bitcoin is US $8070.5, and the market value of bitcoin accounts for about 67.1% of the total market value of the whole cryptocurrency
I think it is closely related to the whole market, especially the stock market. There is a saying that pigs can fly when they stand on the air, and vice versa< in this instry, bitcoin is the top 1, and the leading tycoons have lost the key price. What's better for the younger brothers who follow him to beg for food and stay warm? Naturally, they are like dominoes
however, I think the high leverage trading risk provided by bitcoin to investors is really high, which itself allows investors to finance 10 times and 20 times. At one time, it even reached the super currency leverage of 50 times< therefore, in the event of such a death style short attack, investors will be in an awkward situation and face a dilemma of "fight left and right". Therefore, it is suggested to be more cautious when investing in such things