Sacha36454 posted: such a cryptocurrency as bitcoin seemed indestructible, and here is a sharp failure, many assumed that this could happen. And so many factors came together, one of which is coronovirus. Although in my opinion this is an artificial panic.
The Corona virus is the only factor for this drop and yes you`re right. This is an artificial panic but that`s the human nature.
This artificial drop in the trading market did much harm to ordinary traders, and indeed to people. But those dark horses that stand behind all this have made billions out of the blue. This is certainly not fair. Since most traders built their systems with such diligence and gathered capital for the bribes, and whose paw for a reason just earned a fantastic fortune in an instant
I think this is a real test for crypto currencies. Confidence is weakening in crypto and it is falling like a stone. If this continues then it could spell prove that crypto is all BS. However, if it survives then it will be a great sign that price will remain buoyant and we could see $10k again
BeInCrypto reported that it is likely that the value of bitcoin may fall to the level of $5600 per coin amid the General panic caused by the coronavirus. The d rop may a lso b e d ue t o t he a ctivation of sellers , who in the past few weeks have massively sold and withdrawn bitcoin from exchanges. It is also impossible to exclude a situation when the price of the coin will rapidly decline until it reaches its annual minimum at $1800.
I do not think that this can happen with the currency of the future. And even if the bikoin falls to this figure, it will rise to its level in a year or in 5 years. As one smart person told me, the price of one bitcoin is one bitcoin.
Bitcoin as a utility and money transfer for tiny amounts is good especially for developing markets. Bitcoin as an instrument of speculation (like forex) is not really good for me because of lack of liquidity and historical data at least for now. I believe Bitcoin has a future in our society.
Bitcoin is terrible as a currency. The price is too volatile. Sure you can convert USD to BTC to make a payment but you would never want to have ALL your savings and salary paid in BTC. One month you could make the equivalent of $5,000 and only $500 the next. As almost all purchases are in your local currency BTC will never take over the world in the way that it's proponents think
IAnastasI posted: I think with this covid-19 bitcoin will fall.
I think not. Due to the virus, the Bitcoin rate has fallen quite strongly. But now it is growing again and I think it will continue to grow up to 10 thousands and stop. And in the summer, the rate may fly up to 15 thousand.
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