About a year ago there was a bright future for bitcoin, according to experts: $25000, $50000 and even $100000! There were forecasts and predictions everywhere. Today after a huge drop, the same specialists give a shot in the dark with their new prognosis – it will get lower than $2000. A month ago the volatile product was still on $6400 and it seemed found stability. What it really did is it provoked new traders to get into the game and now it backfires.
What is really happening?
- New investors panicked and started to sell just to have some profit.
- All markets are connected. After losing money on a stock market, investors are looking for new platforms. But crypto market is still are not that stable for them, and right now it’s obvious it won’t be for a long time.
- It’s a normal volatile behavior. Today the price is $4300, and tomorrow it could be a $1000 lower. Right after that a $2000 higher.
The market wants some answers, as traders selling it all and quit. But some are calmly looking on the situation. Their opinion right now is not to sell but to buy with small sums for a long game. They don’t see the drop as something terrific, they see an opportunity. Why? Because first emotion almost always is a wrong one and the idea that it is a bubble maybe a way far from truth. The crypto has a certain customer value at the moment. Means, it will find the reasonable price.
But there are nations’ regulators that are exploring deep into cryptocurrency and eventually will control the market, as it is right now is in a little anarchy. The regulators will exclude all places for maneuvers in the future.
However, some traders are enthusiastic that the crypto-panic will disappear. And after everyone nervous enough will quit some cynic traders will come in. And the market will go on.