There has been a lot of speculation about the price of Bitcoin these days: More precisely, will Bitcoin crash? And if so when will Bitcoin crash
It’s no secret that Bitcoin (like most other cryptocurrencies) is experiencing a big dip. What started as a minor crash in early 2018 has turned into an endless spiral of crashes and falling prices.
While browsing the net and sorting, you may encounter various explanations and guesses. Today I’m trying to sort them out and figure out why Bitcoin crashes.
In addition, I analyze some of the most popular speculations about the decline of this cryptocurrency and provide a logical and controversial answer to the burning question-Bitcoin will crash?
The Rise of Bitcoin
For some time, Bitcoin has been known as a cryptocurrency icon. However, despite its current popularity and mainstream recognition, the story at the start of the Coin in 2009 was very different.
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In the early days of Bitcoin, cryptocurrencies were of little value. Nicknamed Satoshi Nakamoto, the creator launched Bitcoin in early 2009, but the Coin gained remarkable value only in 2011.
Somewhere in early 2011, Bitcoin’s price exceeded $ 1. It was a historic moment for Coin, but you will see many first ones over time.
It was almost normal to see Bitcoin crash and come back for the next two years or so. Price fluctuations were also very noticeable. You can buy anything in the range of $ 3 to $ 30 for coins. However, the first real shock wave experienced by the early crypto community occurred in April 2013. At the beginning of the month, Bitcoin’s price was more limited to $ 266 than ever before. ..
This sudden explosive growth clearly showed what was happening from the crypto community to the rest of the world. Suddenly, more and more people are interested in cryptocurrencies, specifically Bitcoin.
Bitcoin broke the $ 1000 mark somewhere in mid-2017 and reached a record high of about $ 18.000 at the end of the year. However, looking at the beginning of 2018, you’ll see a very different type of story, and for some, you’ll see the answer to the question of when Bitcoin will crash. ??
A glance at the price of Bitcoin in early 2018 can be very confusing-the value of the Coin dropped from nearly $ 18.000 at the end of 2017 to $ 6000 in January 2018.
This was when people started to wonder seriously-will Bitcoin crash? Since then, keeping in mind that crypto prices are steadily and steadily declining, it clearly shows why people have begun to wonder why the “bitcoin bubble burst” has finally happened.
Over the years, there have been price fluctuations in many Bitcoins (not to mention other cryptocurrencies) that have influenced the world of crypto enthusiasts. That said, people have never been afraid that Bitcoin will crash in the last few months.
So will Bitcoin crash completely? Or does it bring a brilliant return? Let’s see what some experts and journalists are saying about this issue.
Will Bitcoin crash?
According to Clifford Chi at blog.hubspot.com, answering questions can be very difficult for various reasons.
First, there are a few things to consider when considering the question “Does Bitcoin crash?” Let’s start with the positive side that can grow the Coin.
The plus side of Bitcoin
If the word “blockchain” is the first thought that comes to mind when thinking about Bitcoin, you are heading in the right direction.
Chi believes that blockchain is one of the main factors that keep Bitcoin alive and running (and most crypto communities probably agree). After all, this type of technology provides a fast and secure transaction between two parties, eliminating the need for a third transaction (i.e., a bank). ..
Currently, quite a few companies are developing and improving blockchain versions, investing hundreds of millions of dollars in each project. When wondering, “Will Bitcoin crash?”, This fact alone tends to shake the denial. The growing interest in blockchain technology cannot be ignored. ..ease of use
Another reason for Bitcoin’s growth potential, emphasized by Hubspot’s Clifford Chi, is that this Coin (and common cryptocurrencies) is very scarce but useful.
Qi emphasizes the fact that rare things are valuable. Their natural rarity and limited supply are equivalent to what these things are highly sought after, which raises their prices.
Cryptocurrencies are a good example. At any given time, the supply of one or another crypto coin has a certain amount that will not be raised or violated in most cases. Adding to the equation that cryptography is very useful and versatile, what you get is endless demand in the crypto world.
In addition, Bitcoin has an advantage over other cryptocurrencies on the market-its fascinating popularity and “rise to fame” story has opened the door to mainstream success. It is strange and unusual to meet someone who has never heard of Bitcoin today. Summing up all these factors gives a pretty good reason that Bitcoin is unlikely to crash.
The downside of Bitcoin
Meanwhile, Hubspot.com’s Clifford Chi also mentions the possible factors behind Bitcoin’s decline. Probably the biggest is bad press and security issues. Bad news may persuade you to turn your back on Bitcoin, but lack of effective security can undermine how this Coin is recognized. ..
As Mr Qi summarized, it is very difficult to predict a definitive answer to the speculation that Bitcoin will crash. If the crypto community is lucky, other parts of the world will continue to participate in the growth of blockchain and various cryptocurrencies, which is most likely to lead to the success of Bitcoin.
If you look at what cnbc.com says about Bitcoin crashes, you’ll see a very different type of prediction.
CNBC refers to renowned economist Nouriel Roubini when discussing the “bitcoin bubble burst.” N. Rubini even says that Bitcoin is “the biggest bubble in human history.” ..
Rubini believes that Bitcoin will not only crash but will reach dead zero. He promotes these claims by stating that “HODL Nuts” stick to Bitcoin and therefore experience a significant loss of revenue.
N. Rubini also states that there will be many scams in the future. Especially, it is a clothes trade. Wash trade is the act of selling something in the market and buying it back on your own. This is done to manipulate the market in a beneficial way to the first seller. Economists suggest that this will be one of the many ways. Bitcoin enthusiasts try to keep this Coin alive.
When considering such predictions, the question is, “Does Bitcoin crash?” It’s a darker prophecy than a speculative question.
Forbes.com tries to answer the question “Does Bitcoin crash?” By referring to Bitcoin Bubble Burst.
According to Forbes, this type of economic burst occurs in three stages.
First, there are periods of slow (sometimes not) steady growth. For Bitcoin, this period lasted from 2009 to the beginning of 2017.
Then there is an “irrational” period in which everyone and their mothers are simply pitching for quick profits, with little consideration that things may go south really fast. .. Overall, 2017 is a good example of this when it comes to Bitcoin.
Finally, a crash. Everyone tries to escape as soon as possible, but they are unaware that the ship will continue to sink. Bitcoin is currently in this final stage and has been here since the beginning of 2018.
As you may have noticed from the examples and opinions above, people tend to think very differently about the future of Bitcoin.
Will Bitcoin crash? There is a lot of evidence to support both sides of the debate. On the one hand, Bitcoin is a staple of cryptocurrencies-it’s an example of how advanced cryptocurrencies have been in the last few years. The emergence of Bitcoin in the mainstream has also opened many new doors. People are starting to talk more and more about it, which raises the price of coins, popularizes blockchain, and is based on new blockchain technology. It allowed you to start a startup, etc.
On the other hand, Bitcoin is also showing a considerable decline. The huge burst it is experiencing has re-evaluated its approach to this Coin, even the toughest and most determined Bitcoin supporters. In addition, the Bitcoin crash seemed to be dragging down most other ciphers.
The world of cryptocurrencies is unpredictable-the price of a particular coin can skyrocket or plummet for no apparent reason. What do people tend to forget when thinking, “Does Bitcoin crash?” Every minute of every day, there are hundreds (if not thousands!) Of different factors affecting the market. For the average person, especially in cryptocurrencies, it’s completely impossible to keep up with all the latest news and details.
At this point, we know the history of Bitcoin’s power (both good and bad) and some predictions surrounding the eternal question-will Bitcoin crash? ??
You’ve probably noticed that anything can happen at any time in the world of cryptocurrencies. Cryptography has a reputation for being extremely volatile-it can be almost impossible to tell why it is behind a price change. For this reason alone, it is almost impossible to predict the future of Bitcoin with the highest accuracy. Your best bet is to remember the opinions of expert economists, crypto enthusiasts, and other experts in the field. But after all, you always have to decide.
Always take the opinions of others with a grain of salt. No one is 100% sure about the future of cryptocurrencies in the market. It’s all mostly knowledge-based (or sometimes ignorant) speculation and guesswork. Don’t forget to visit cryptocurrency chat hubs and forums in addition to experts. People in such places usually want to help.