Why did Bitcoin crash (why did Bitcoin not crash)
Why did Bitcoin crash? Why did Bitcoin crash On January 8, 2018, according to Coindesk, the trading price of BTC in the last week of 2019 was approximately $40000, according to CoinMarketCap data. In the past week, the price of BTC has dropped from $38000 to over $3800, a decrease of nearly 60%; During the same period, ETH and XRP decreased by 20% and 40% respectively Due to market fluctuations, many analysts believe that BTC had reached its peak in early 2017, but this number has significantly decreased as investor selling intensified. Therefore, despite this, there is still a certain rebound in demand for Bitcoin. If the previous bull market was driven by speculative funds, then this time it was driven by institutional investors. “. But since November last year, Bitcoin has not experienced a collapse like before. The reasons are as follows: 1. The market demand for Bitcoin is very strong. 2. Many people in the Cryptocurrency community are dissatisfied with the project. 3. Most investors are concerned about its volatility. 4. Some exchanges have begun to increase trading volume to new digital assets. 5. Bitcoin has not been widely adopted, which means it lacks feasible application cases and functions. 6. At present, most mainstream financial institutions in the market are unwilling to invest in Bitcoin or other Cryptocurrency. 7. The “Bitcoin foam” event is one of the most noteworthy topics in the near future.
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