Why are cryptos crashing like crazy?

3년 전

Some of you are wondering "why are cryptos crashing like crazy?" Yet you didn't ask "why are cryptos climbing like crazy?" That's why:

The value of Bitcoin and other cryptocurrencies are solely based on the demand of the market. Hence, like any other market, the value of cryptocurrencies alter based on the rise and decline of demand from the market. Therefore, if investors can’t justify the increase in the value of Bitcoin or other cryptocurrencies, it is likely that a market correction is imminent

There is an increase in demand for Bitcoin rapidly across the world, and an increasing number of governments and countries are starting to recognize, acknowledge and adopt Bitcoin as a digital currency.

Demand for Ethereum, Bitcoin, Litecoin, Ethereum Classic and other cryptocurrencies is rising at a rapid rate. Short-term market corrections are important to evaluate, but investors should not consider corrections as factors for long-term growth.

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I agree with your thought process here. The fact is that we are looking at it entirely the wrong way when we wonder why it's going down right now. The entire market did a 6x push UP in a matter of a couple months. That's just CRAZY growth as is. It has to give some back to correct itself and have a healthy push to the next insane level.

Good post for those not quite familiar to market growth and corrections.

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If BTC breaks out then I anticipate a very rapid and strong acceleration on everything...

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Interestingly when BTC is moving quickly the smaller alt coins tend to drop from what I've noticed. When BTC is moving up methodically then the alt coins start skyrocketing. When BTC is falling even in small bits the alt coins follow suite with a multiplier effect. Until we can buy alt coins without needing BTC as the anchor it remains annoying.

Either way I'm looking forward to the next bull run for sure :) just uncertainty about how the fork is going to impact things come August 1, assuming it goes off without issue.

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Good point, I noticed that too... Let's see what this week brings..

Thanks for the comprehensive information. So cryptocurrencies market is undergoing correction and will soon be back?

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I expect BTC and all the markets to make a big move over the next week..