A lot of post or questions are floating in this forum about price of Bitcoin, Will it continue to fall, and will this ever recover. What will happen to crypto currency?
I have decided to prepare a FAQ to answer all these questions at once.
1. What is the reason behind this crash?
After many governments and banks heard the news about Bitcoin reaching $20,000 and total marketcap
reaching more than $750 billions. This news may have shocked them because this will end their monopoly
and they have started to impose or announce restrictions on Bitcoin and trading crypto currencies.
According to me reasons behind this crash.
A: South Korea doing flip-flop on banning and trading of crypto.
B: One of biggest ever hack on coincheck
http://money.cnn.com/2018/01/29/technology/coincheck-cryptocurrency-exchange-hack-japan/index.html C: India announcing ban on crypto currency: This is FUD created by mainstream and social media,
but by the time everyone could realize this damage was already done.
True story of India: Government wants regulate trading of crypto currencies in their country.
https://www.financemagnates.com/cryptocurrency/news/india-regulate-cryptocurrencies-march-31st/ D: China completely blocks foreign exchanges
2. Will or When Bitcoin will bounce back?
It has bounced back past 8 years and it will continue to the same thing over and over again.
I cannot post the table please have a look on the below article on Bitcoin Historical correction chart.
This chart will clear most of your doubts and fears.
https://bitcoinschannel.com/a-history-of-the-bitcoin-value-collapses-over-the-years/3. Is this the end of crypto currency?
No it’s not this is just an evolving phase for us and its here to stay.
4. Should I sell or Hold?
It can one month or one year to bounce back but if you are a person who checks the price everyday
then you should definitely sell your crypto.
Bitcoin is a revolutionary tech and its here to stay it will neither loss its popularity nor fade way.
I hope this will clear many of your doubts and we can start moving to more sensible post.
BTC
