Author: @madridbg, through Power Point 2010, using public domain images.
Greetings dear members of this prestigious platform, the present publication is addressed to those users that in some way we have been affected in the current movement of the price of BTC and as is well known, the trend of the crypto market moves according to the Bitcoin, which is why we noticed a considerable decline in the rest of the assets.
On April 18, we have witnessed one of the sharpest drops for periods of time within the Bitcoin network, yielding figures that went from 62K to 52K liquidating more than $10 billion in the overall market. Even when the HASH RATE as an indicator of mining intent and potential, pointed to bullish price action, the market made an unexpected correction for many.
Based on this it is normal to ask what is happening to digital currencies?
For many, we are starting a bear run and will bet on a sudden drop in the price of BTC, there are even announcements that bitcoin will go to zero (0), I think it is an unexpected conjecture and we have to take things calmly. From my perspective, this abrupt movement is induced by two events that somehow caused panic in investors married to BTC.
Fig. 2. BTC/USDT pair on daily chart. Author: tradingview
In the first instance the handling of information since prior to the fall it was possible to evidence the circulation of regulatory measures by the United States for those financial institutions, associated with money laundering from crypto markets and although the sources have not yet been confirmed this information reached more than 5000 likes in less than 2 in social networks.
On the other hand, the computational stability or HASH RATE of was destabilized to half and analysts point to the generation of an electrical blackout produced in Xinjiang a locality in China where a large number of miners make a living.
For one reason or another, I consider the correction to be the opportunity many were waiting for to buy more BTC and even this is not financial advice in the coming days we will be watching in exponential growth in correspondence with this fall.
That is why, I would like to know your perspective on the current incident that have left us in loss of our current investments and has affected the price of HIVE/STEEM blockchain tokens where many of us perform.
BIBLIOGRAPHY CONSULTED
[1] Gracia et al. Factors influencing Bitcoin behavior and volatility. Article: Online Access
OF INTEREST
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I tend to think of it as a programmed attack with someone who has a lot of power to influence the market in their favor and take advantage of it. However, this is something very difficult to verify and I believe that it will never be known unless the person who did it confesses and explains the fact in detail with evidence.
Greetings friend @reinaldoverdu, no doubt the market moves according to the big capitalists whom we call whales since with their money and their big purchases or sales they direct the direction of the asset. Thanks for stopping by and leaving your comment
I have a strong feeling the first reason is fake. Such investigation don't usually leak like this. US government is usually capable of hiding this until they start arresting people. Can this be a coordinated attack on the market for some whale to buy the deep?
Greetings friend @cryptohumster in this market anything is possible. Something if I tell you are the big investors who have the resources to move the market in the direction that most favors him. Thanks for stopping by and leaving your comment
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