It looks not too good for Bitcoin. The recent Flash Crash of 8,000 $ to 7,500 $ has brought back the bearish sentiment for good. Many assume that BTC is in a difficult Situation – without sufficient excitement and enthusiasm to reach new price peaks, or even break the record Price of 2017.
Contents
Bearish sentiment makes Bitcoin to create
Bitcoins recent price crash, and since the summer months, watching the price weakness to boost currently the bearish stance that the leading Coin could see a new High. Consequently, the bitter fear that Bitcoin may never again see a rally as the end of 2017.
In a Reddit Thread, a User, for example, explains, why, the Hype could have been by 2017, a one-time event. Also would be great investment is needed to bring BTC to 50,000 or even $ 100,000 – and were nowhere in sight, so a comment.
u/virus catman about writes in the Thread:
To rise “from $300 to $20k, required about 200 billion more or less. Small money. Do you seriously believe that TRILLION is to be invested overnight in Bitcoin because it is becoming scarce?!! If the people are not interested in Bitcoin, you don’t give a shit whether it is just or not“
In the Thread some optimistic opinions get a word in. For example, that the current negative sentiment and the risk of capitulation, were actually a sign of a surprising recovery.
Many also argue that the crypto-space would eventually attract, but one day, with enough investments to keep Bitcoin on a $ 50,000 rise.
But Since July, the Bitcoin has deteriorated climate. The Youtube channel “The Modern Investor,” according to the BTC price decline and lousy’ll be due at the end of the mood on the crackdown against Facebook’s Libra.
Libra – Hype and increased Regulation
The announcement of Libra, the largest annual Bitcoin rally went ahead. However, the message that Libra could be delayed or never start, to enhanced scrutiny both by BTC and other Crypto networks led.
According to Mark Zuckerberg’s last hearing before the U.S. house of representatives seems to be Libra of not advancing. Zuckerberg explained that he had endeavoured to comply with all applicable regulations.
The comments of the members of Congress will suggest, however, that new laws might be necessary, specifically focused on Facebook’s case.
A further justification for the “popping of the BTC bubble” was the introduction of the US futures markets through the CME and CBOE market operator. Christopher Giancarlo, a former head of the “Commodities Futures Trading Commission”, also stated: the introduction of The Futures is trading a deliberate step to stop the exorbitant rise in the BTC market price.
BTC was listed before the weekend 7.506 $ and returned to a daily volume of $ 15 billion. The current price depends on a number of Tether pairs (USDT).
The USDT-Coin-Minting began as early as 2017, and even minimal Stablecoin Trading had an immense impact on the price. This eventually led to a number of Thousand-Dollar-days.
At present, the price can be achieved, however, even with millions of fed-USDT no such gains because of the higher market volume and a wider range of exchanges.
Text evidence: Bitcoinis, CHRISTINE VASILEVA