Bitcoin Crash| Bitcoin Keeps Dropping
The bitcoin crash is going to happen again in a few months, the question arises here, is will the bitcoin crash 2021 be any different than previous crypto crashes.
Bitcoin is one of the top decentralized digital cryptocurrencies, which was initially released on 9th January 2009 nearly 12 years ago had faced many ups and downs since the release.
the father of all cryptocurrency “bitcoin” that once hit a high value in 2021 is falling after that.
Bitcoin crashes have occurred many times, none of them had stopped this coin from the uprising.
the Bitcoin value was increasing day by day till April, but since then due to some reasons value has fallen a lot.
bitcoin is currently half the value it was 1 and a half months before.
1 BTC= 35,000$ approx:
bitcoin crash 2021
Bitcoin has surged to 63987$ all the way from scratch in April 2021 until it started to crash since then. It has been the highest value bitcoin has acquired since its release.
There are no solid reasons for the bitcoin crash. although, one of the reasons for the bitcoin crash can be the coinbase, on April 14th they went public with too much fanfare and hype. the mainstream has witnessed coinbase acceptance worldwide.
since then, there has been a bloodbath between crypto and coin base. The after the effect had been on crypto’s market share rate.
As per reports their shares are down 50%. yes, all crypto market has been crashed not only the bitcoin.
Bitcoin has fall cut in half of its peak value in just a half and a month. Ethereum went down more than 50% off its highs since the start of May. along with these all others, cryptos have fallen to half price too.
Several additional crypto assets have dropped even more with a number of tokens down 70% to 90% in value.
According to former crypto bull ADVFN CEO Clem Chambers, bitcoin will hit the surface like a rock. he claims that bitcoin will go down to 10,000$, as part of a cycle BTC tends to repeat its way down again and again.
per his statement, he assumed that he is seeing bitcoin crashing all the way down 20,000$ in near future and believes that the current market will end when it bottoms in the 10,000$-20,000$ range.
h made some assumptions on “the same old patterns time and again”. Per his information, in 2011, 2015, 2017, and 2021 bitcoin has executed the same exact pattern following the halving. It “goes up like a missile and comes down like a stone.”
Well, he also said, last time when bitcoin has crashed its value was roughly around 5,000$. It means this time it should bottom at 10,000$.
Will the bitcoin crash happen again in 2021
why is bitcoin going down? above I have discussed the first main reason for the bitcoin crash 2021, it was coin base going public with all fame and hype, becoming the mainstream, cornering all the cryptos aside.
if you are new to investing in the crypto world, or just attracted due to the substantial fall in crypto then you should know that there are a number of lessons we can take from the bitcoin crash 2021.
bitcoin is highly volatile
bitcoin has become highly volatile in just 4 years, it is estimated 75% in just 4 years.
In contrast, the S&P 500 daily volatility in exact same years has been 22%.
thus, bitcoin is 4 times more volatile than the stock market.
Tesla and bank rejected bitcoin Payment:
it was when tesla rejected payments through cryptocurrency. Because of concerns related to the environment since then, bitcoin has started to crash.
not only that, but some banks have also started to block bitcoin payments. For example, the sterling bank has banned bitcoin as a method of payment transfer.
FBI agents caught millions of dollars in bitcoin from mobsters, indicating its price to slide by 8%.
in recent years of cryptocurrency, it gets tough to maintain defi system. Because of the required standards under the money laundering regulation, criminal frauds online. this meant they may force some of them to close.
Many crackdowns are taking place across the world in China, Turkey, and Denmark. Because of the concerns they are explicating crypto.
according to FCA watchdogs, they informed the whole UK about a number of cryptocurrency businesses not meeting up the requirements under laundering regulations in the UK.
one of the largest cryptocurrency exchanges has been banned. Because they tried to carry out regulated activity across the UK where they were not allowed.
binance is one of the largest cryptocurrency exchange cryptocurrency platforms. The financial watchdog has blacklisted Binance because they tried to carry out some regulated activity in the UK.
The UK does not allow the balance to perform any type of advertising for investors in the UK. Going
these further regulations are a threat to the decentralized cryptocurrencies, which are visible on stock prices now.