Cryptocurrency

Bitcoin record burglary, panic and fear tearing BTC to the ground

Bitcoin has experienced one of the biggest crises in its history. The Bitcoin exchange rate has fallen within a day from $ 8,000 on up to $ 5,500. This is a drop of over 30% within a few hours. The Altcoins had to suffer much more and have rate to reported burglaries in USD of over 50%. The entire market is blood red and there seems to be no end in sight.In times of panic, I want to address the current Situation, a little look into the future and to all of us again before his eyes, as it is in the long term Bitcoin. In this article, I will share my thoughts with you. I would recommend anyone to take this as Input, but to not just accept blindly. Everyone should make his own thoughts in his own personal Situation. But let us now first in the current Chaos of boarding.

Bitcoin is subject to the Coronavirus-panic

The Coronavirus is currently the entire world on the head. Of the stoppage of the production, quarantines and visa bans, we have seen in the last days everything. Any further negative news immediately shows its impact on the markets. Bitcoin and other crypto-currencies are not spared. Although BTC has behaved in the last few years, are assumed to be uncorrelated to the traditional market, but in times of a pandemic in the global money from the markets flow, it hits just Bitcoin. A Situation of the current extent experienced BTC for the first Time. Therefore, it is also quite difficult to make an informed assessment of the short-term development of the Bitcoin course.The global uncertainties and the reporting do the Rest. The Chaos seems to be perfect. Fear and panic in the population as a whole wide. Many think currently rather less about the next Investment, after, or when, again, the right entry in XY, but as you and your family from the Coronavirus in the best way possible can protect. The panic sales of the last few days and weeks will show clearly how the people react to the current Situation. Add to that the negative news is incredible:Yesterday, Donald Trump, President of the United States, and a ban of 30 days for all Europeans from the Schengen proclaimed States. Then all the markets slumped further. Also Bitcoin was (and still is) on the front and with a record-breaking slump. But how to do it more now?

It goes downhill or we have the worst behind us?

I want to see at this point, regardless of how positive the long-term development of Bitcoin, no bullish predictions to make. In the short term, can be said currently none as it will go. A lot of talk currently that it will only be the beginning of one of the largest economic crises in the history of mankind. Others again see already in the ground and buy diligently.In my opinion, we have not the worst, nor is it necessarily behind us. It can go further downhill, and not just for the traditional Assets, but also for Bitcoin. BTC is still not a safe store of value in the eyes of many investors. In addition, the Bitcoin market is 24/7 available, in contrast to some traditional stock markets that have stopped trading completely. It can, therefore, be curbed to prevent further price drops. Not to forget, the many people who want to fill now with Short positions in the pockets.On the other hand, we are currently working on the Level in may 2019, as Bitcoin, after a long thirst for a little country course for the win and the $ 6,000 is climbed. Also, the course of 2018, as Bitcoin has bounced three times in a row from the $ 6,000 of support, should remain in memory. This is a sign of extremely strong support from a technical point of view. This is not to say, of course, that this support can not be broken. In times of a pandemic, we can no longer rely on tried-and-true indicators. There is – unfortunately – absolute Chaos.

Bitcoin speculators vs. Hodler

In Bitcoin a lot of speculation is. Many people invest in BTC, without really the idea behind it is to look at and what Problem Bitcoin exactly want to solve and can. Exactly these people are selling currently, as you can see in Bitcoin is only a speculative, short-term quick gains. The imminent Halving has played his part. Because the expectation is that BTC will rise up to the Halving of solid, has brought much speculative money in the market. And so we see that these people flee now quickly back out of Bitcoin, if the uncertainty increases. The counterpart to the Hodler and a true ‘Believer’, and we must not forget are.Personally, I’m one of them, and I’m confident that Bitcoin will ultimately succeed. Everything that has happened in the last few months in the world, also speaks of this. BTC is represented on television and in advertising, institutions jump on the train, trading places with a better UX sprouting from the ground, banks want to trade Bitcoin for their customers as well as retain and governments around the world want to regulate Bitcoin, not prohibit.And that is exactly all of this speaks precisely to the development that we have hoped for many years ago. These developments are extremely bullish, as before. The Coronavirus has shown the euphoria of seemingly for the time being on ice. But for me it is more of a ‘current’ event. This crisis, we will survive, just like the Dotcom bubble, the 2008 financial crisis, Ebola, SARS, and so on.The Hodler will eventually usher in the final course-to-ground. Most people see the current situation in a relatively relaxed and look forward to falling prices, in order to increase their Bitcoin holdings more.Because of the Fundamentals and the actual sense of Bitcoin has changed absolutely nothing. Only the price has plummeted, and the voices are loud, BTC is once again before his end. I can’t count how many times Bitcoin has been declared dead. This happens naturally whenever the rate is felt in free fall.Trade on the worlds leading Social Trading platform!Join the millions of people who have already discovered how it smarter to invest by copying the best investors in our Community, or be copied and as a result, a second income can be achieved. Start now!

Bitcoin Fundamentals as good as ever

Bitcoin is the answer to FIAT and the arbitrary increase in the money supply and the resulting devaluation. BTC was also the answer to the economic crisis of 2008 and the ailing banking system, which has made this crisis possible in the first place. Bitcoin is the hardest money in the world. It is limited, and no one can create out of Nothing new Coins. Even in the case of Gold, you could increase the production over the years. In the case of BTC it is not possible. In the story, has set the long-term is always the hardest money by. These properties of a pandemic can change nothing.You prefer to use the current Situation to employ you deeper with Bitcoin. Here, you will not only a lot about the unique creation of the decentralized payment network of BTC learn, but also about Economics and money. Currently invests rather in you, because that always pays off, no matter what is the Bitcoin exchange rate.In summary, we can say that we are currently in a fairly uncertain Situation. The news of the next days and weeks will determine the direction. A further break-in is absolutely possible, but not a Must. The current pandemic is not a permanent condition. Therefore, it is also worthwhile at this point, if one is also convinced of the positive long-term future of Bitcoin, to increase its holdings. For this purpose, the Cost Averaging strategy is to the extreme price fluctuations and to achieve a good average price. Don’t panic and stack your Satoshis!62 % of private CFD accounts lose money. No EU investor protection.A small summary of the situation there’s in this Video:How will it be in your opinion more to the Bitcoin rate? Have we reached a new floor or another Crash is in store for us?Come on in to our Telegram Chat and talk with the experts and the Community!
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About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.