Crash Of Bitcoin
The first quarter of Bitcoin has seen the worst price record in the price history of the coin. Its market capitalization got erased just below 115 billion USD. Its price has been reduced to half from what it started the new year. The information aggregators think that the world’s most famous cryptocurrency might make a comeback.
The crash of bitcoin is a familiar story
The recent crash of bitcoin in the market is the most awful price crash that anyone ever had expected. Seeing the recent crash many investors feel the end of good days of bitcoin is near. The people one who had strong faith in Bitcoin and were a regular investor of it are now showing concern about the future of the currency. Seeing the current crash in the market it is advisable to take a step back and asses the current state of the market taking references from the past. It has crashed many times in the market over the past years.
Dating back to January 2012 Bitcoin has crashed many times in the market a couple of times it went down to -40% but the presence of -70% is all time down. But loses that happen before were corrected in very less time compared to the present. There have been thirteen major crashes and corrections since January 2012. Loses has been as minimal as 30% too high as 87%. Compared to the past crash and correction the present crash is not so severe. The people in the market are frustrated as those who brought the currency in December are not getting the proper price of it even after six months.
It’s nothing new for Bitcoin
The asset history is in line with the current pattern of correction. The study of the history of the market reveals that the correction is just a few days away, it also suggests there were longer stretches as in late 2013 to 2015 that lasted for about 415 days. After that, the recent lag in the market is taking the longest time for getting corrected. The facts and figures say there has been repeated turmoil in the cryptocurrency market.
The present streak in the market will go on for some more time in the market. The investors who invested in the late last year is really undergoing a phase. But they can hope for the better days to come, maybe the coin will recover someday, till then keep the finger crossed. Crypto Trader will give you more information.