Why Is Bitcoin And Crypto Down?
Bull and Bear Bitcoin Market - Why The Bad Run?
A member of Japanese pop group 'Virtual Currency Girls', wearing a mask with the symbol for BTC
Matthew Newton, analyst at eToro, one of the largest cryptocurrency retailers in Europe, told Express.co.uk:
“The recent price fall was driven by two factors. Firstly, Bitcoin was trending higher for about a week but failed to break a technical level, which caused a slight selloff.
"This was then accelerated by the news that Binance, the crypto exchange, might have been hacked, though markets recovered once the exchange allayed fears that funds were safe.
“Regulatory news coming out of US and Japan may also have impacted cryptocurrencies again, but shouldn’t be cause for alarm.
"Cryptocurrencies are still in the early stages of development. As the market grows, regulatory scrutiny is to be expected. Appropriate regulation should ultimately help promote best practice and afford protection to the consumer.”
Hang in there, when the US Securities and Exchange Commission whisper "not all exchanges are under regulator bodies" in US and Japan, now what, is the whole Bitcoin world is supposed to stop and crumble?
Does anyone actually do research? Most exchanges were created when seeing a void (a big gap, no one had filled). Experimental; no they met a demand. Governments are only waking up to this fact now, where have they been?
It is perturbing to think that people buy into this sudden outcry by the media, where were the Government run Exchanges five years ago for crypto? Was blockchain technology not transparent enough to be seen?
Sit tight and hold onto what you have invested in Bitcoin and Crypto, just my opinion.
Closing thought: Cryptocurrency is new technology, it deserves a chance to be tested, it is high risk, people are prepared to work hard developing in both cryptocurrency and security.
Most who invest in Bitcoin or any other Cryptocurrency are fully aware of the risk involved.
Leave your thoughts below, (I look forward to reading how you feel on this subject.) None of us would have Steemit or any other cryptocurrency if we felt our lives had not been affected by it in one way or another.
It is an interesting phenomenon seeing folks get worked into a tizzy over every little remark from a regulator. There are some areas where there is government overreach to be concerned about, e.g. China, but they’re really the exception, not the rule.
I agree with you. I think that the news has sparked panic but I believe that Blockchain technology and cryptocurrencies are here to stay.
Actually cannot see how this technology is not going to be implemented in many ways going forward, thanks for your insight @petruska13
Included this post in yesterday's Cryptocurrency News
Thank Colin appreciated.
Yes, Joan. Agreed. I took on Superiorcoin as my first ever Crypto, then came some Bitcoin dropped in my account by someone we shall not name, so I got myself some bitcoin on coinbase, then some etherium, and off I went into the universe of crypto to stay permanently! I have sold nothing, only traded. I will keep my stashes of crypto until I make at least 100%, rather make that 1000% on my holdings, and only then take maybe half for a home and reinvest. Any new currency takes time to grow, and it will be the same for Crypto. Hold on to your reigns, stick your hooves in the ground, and keep patient for the 4:10 to Yuma!
Started reading about Bitcoin in 2013, started investing a little in 2015, really could see the positive side of the technology and have been going ever since. Bumpy times are to be expected with anything new, thanks for sharing @authorcolinbmw
I see cryptocurrencies as a threat to government control, which I like, but they won't. If they cannot control our money, they lose some control over our lives. I'm hanging on to all my crypto tokens and love seeing the use cases for decentralized applications.
I love your attitude Jackie! I'm with ya on that! Less control over us, the better!
Government will still obtain their cut, I actually don't see what their fuss is all about. Once you convert to Fiat via a local bank, taxes will be imposed in one way or another @berolena
Having control of your own investments is where I enjoy the technology, the endless possibilities of how this technology may be put to use is a massive move into securing safe information in a variety of ways.
Thank you for the info :) my kryptonia id is the same
Hi Mary. Can you drop your Krpt link below? Thanks! Mine is:
https://kryptonia.io/?ref=5ZENAO92QM
Thanks Mary, I am following you in Kryptonia @marylizacaindoy
A good post indeed Lady Joan! I also heard that a Japanese Whale sold $400 million and that this resulted in a huge panic. We are not the panicky type, but I like to keep abreast of things! Blessings and upvoted!
If panic drove us we would all be swimming in the deep blue @papilloncharity sadly too many are affected by media outcries, one really has to understand why this happens. Have a gorgeous weekend.
It might go on for a while, but I'm pretty sure that this technology is one of the best thing that happened to us. Cryptocurrencies, blockchain, decentralization... It's way too good of a technology to go away. People are just afraid of new things.
Nice post
Cryptocurrency is an opportunity
Just like Steemit and Kryptonia is...
Kryptonis id @bitcoinpaul
Following on Kryptonia have a great weekend @airsoftman
Hodl and my Kryptonia account is @ianstevenson
Thanks @ianstevenson we are connected.