Cryptowinter and the Bitcoin crash.

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Avatar for panterablack
1 year ago

First of all I want to give a big greeting to all the friends of hive and especially to the members of this prestigious community such as Leo-Finance. I want to share with all of you this post related to the events of the current situation in the crypto world and the red values in almost all cryptocurrencies.

Undoubtedly, the last weeks are marked by the downward market where the Bitcoin, the main currency that dominates the market has suffered a significant loss of its value at this time of publication at 26,700 k, this brings many alarms to the market because it does not see any improvement in this regard in the short time.

This situation has been going on for several months and we can call it the cryptowinter, which is when the price of cryptocurrencies suddenly fall without any behavior that indicates that it will recover its value for a long period of time, at least in the next six months.

We can infer that some elements that may have contributed to this situation have been the pandemic, an inflationary market produced in the world, energy problems in some mining countries, as well as the proposed ban and use of cryptocurrencies in some countries today at war as Russia.

This situation has caused the Bitcoin has fallen to reach 26 k , this is certainly like a domino effect, because other cryptocurrencies likewise have lost significant value up to 30% as Ethereum in a month .

This new fall that reaches more than 50% from that historical maximum value that reached only six months ago, therefore all investors are very nervous and fear that there may be a collapse that becomes much more serious than what the market is already, hoping that a resistance zone can be achieved in a very short time.

Regardless of the path bitcoin takes in the immediate, medium or long term, history indicates that it will not always be down. The detractors have already done their job and have announced on many occasions the irreversible collapse of Bitcoin, but there is no doubt that this negative news is accompanied by recoveries or price corrections that then become rallies in the value of the same.

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Avatar for panterablack
1 year ago