The crypto market is a platform that allows investors to trade virtual currencies for other digital objects. Though many people are bullish about the crypto market, this week it has been dropping as Bitcoin drops and falls. While some people think that the drop in the market is because of government regulations, there are others who believe something else might be going on behind the scenes.
After analyzing some theories from other powerful sources, we find out why the crypto-market is probably going down and what exactly is happening! Bitcoin and the Market
The blockchain market is past $100 billion. In terms of market capitalization (see below for more info), it is currently at about $125 billion, certainly an impressive increase. Many businesses and entrepreneurs are taking advantage of this phenomenon to build their own products or start new projects in the crypto world.
The number of coins are increasing as well, which means that there are a lot more investors in the market.
One thing that has been going on lately is that more and more publications are targeting blockchain. The articles are of a positive tone and suggest that the technology will grow to become more relevant in our daily lives.
Those who have been following the cryptocurrency market for a while will understand this trend, as it has actually been going on over the past few years. Blockchain is becoming more influential by day and many companies have already entered this market.
The best example for this is undoubtedly IBM, which produces its own version of the blockchain platform called “Blockchain
Why is the market going down?
Right now, the cryptocurrency market is going down because there are no new coins being released. The coins that are already released have a limited supply that can be used to buy and trade. The cryptocurrency market has been very volatile in the past few months with some coins reaching highs of over $10,000 USD and lows under $3.
recently it has been decreasing by a lot of value. A lot of the coins being released have sold out in the first week, and I think that it is a buying opportunity for those who are patient and want to get good returns. There are also some new coins being listed daily on Coinmarketcap which can help increase the value if you are looking to buy coins.
As Bitcoin heads toward a new all time high, many are eager to reap profits. The ETF disapproval is a sign of changing attitudes for Bitcoin. It was unlikely that the SEC was going to approve the ETF. This reinforces how important it is to stay up to date. Get involved; chat on boards, comment on blogs, and follow us on social media. If you have an account on Coinbase, you can add comments to this article too.
When did this happen?
The crypto market has been crashing recently, causing many to wonder why it happened. It appears that on October 13, 2018, the SEC was conducting its first bitcoin-based crowdfunding project. The SEC officially announced that they would be restricting the cryptocurrency market in order to protect investors.
This announcement caused the price of bitcoin to drop by close to $150 from $6,600 USD to $5,938 USD; it currently sits at around $5,600. On December 14, 2018, the SEC finalized their ruling that would allow for a bitcoin-based fund. The crypto market has had a very hard time lately; this is why people are wondering how the price of bitcoin can drop so drastically.
The SEC’s announcement had a huge impact on the surge in cryptocurrency trading volume on October 13, 2018. On that day, there was over $111 million USD traded in cryptos compared to almost $28 billion USD traded on January
What are the reasons behind this?
After the cryptocurrency peaked at $20,000 on December 17th, it has now dropped to $8,600. The market is starting to experience a lot of volatility as investors try to figure out what caused this crash. This is making many investors afraid and looking for other investment possibilities to analyze in order to make this risk worth it.
Bitcoin (BTC) has fallen to $8,600
At the time of writing, Bitcoin is trading at $8,600. This shows a loss from the previous day’s value of $9,000. BTC is currently at a 14% drop in the last 24 hours. A similar pattern was observed on January 5th when BTC dropped by 13%. The current slide has been triggered by two factors: the introduction of more-risky assets and the increased hype surrounding the Bitcoin Cash (BCH) fork.
Investors have begun to panic due to the fact that the two biggest players in the crypto market, Coinbase and Gemini, have announced that they are allowing their customers to trade the new cryptocurrency. A number of other exchanges such as Kraken, Bitfinex and Binance are also allowing trading in BCH for a limited time period.
The price is now back up to $9,000 but it is still very low compared to its previous high at $19, 000 when it was in the midst of a bull run. It is possible that this market move will be short-lived as Bitcoin Cash has not garnered much support and so BCH could soon fall back down to its old price range.
Bitcoin Cash Chart Analysis
From a technical standpoint, Bitcoin Cash seems very weak. The XBT/USD pair is trading below the 50 day moving average at $9,000 while the 100-day MA is hovering around the $6,300 level , indicating that a strong rally is not expected in the near future.
Even if Bitcoin Cash does manage to break above $10,000, it would require significant price action to sustain such a rise.Bitcoin Cash Price Forecast 2018:BCH/USD Long-term Trend: RangingSigns of the Bullish WaveBitcoin Cash chart shows that this market has been making lower highs and higher lows since early 2017. The last pullback was experienced in mid-November when the price dropped below the
What are some potential risks of this?
The cryptocurrency market started to drop in February because of short term technical failures, increased regulatory pressure, and the slowdown of China. These are some potential risks the market could face going into 2018. China and India are two the biggest countries that use the Yuan
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It is not entirely clear whether or not bitcoin mining actually uses up more energy than it produces. Bitcoin mining is a very energy-intensive process, because every time you complete a block, you also solve a complex cryptographic puzzle using computing power to compete with other miners.
That’s why the industry has been feeling frothy lately — since the currency hardware has become more efficient, consumers and miners have been able to reap larger profits.NEW YORK, Dec 24 (Reuters) – A U.S.-based bitcoin exchange will begin allowing customers to convert the virtual currency into and out of U.S. dollars, signaling a growing acceptance for the digital currency by mainstream financial institutions.
Bitstamp, an international bitcoin trading platform based in the United States said it would start offering dollar conversion on Monday and that it was also planning to introduce other trading products simultaneously, including margin and shorting
How can you prepare for this event?
The Crypto Market is currently in the midst of a bear market. What exactly is going on? In short, it’s a period when the exchanges and prices are going down, but still, many people are no doubt feeling great about how much they’ve made.
This market is usually followed by a price increase. So if you are wondering what you should do to prepare for the price hike, here are some tips:
Investors are losing faith in the crypto market. There was a huge sell-off on Wednesday and Thursday morning. This is mostly due to the mainstream market being more interested in Bitcoin than other cryptocurrencies. The drop in the price of Bitcoin has led investors to leave the market, which causes a decrease in demand for all cryptocurrencies.
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