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There has been a lot of speculation regarding Bitcoin prices recently. More precisely — will Bitcoin crash? And if it will… When will Bitcoin crash? What started as a minor crash back at the beginning of turned into a seemingly never-ending spiral of crashing and lowering in price.
Whilst browsing and sorting through the net, you might encounter many different explanations and speculations. For some time now, Bitcoin has been known as the icon of cryptocurrencies. The creator or creators nicknamed Satoshi Nakamoto launched Bitcoin at the beginning of , but the coin gained notable value only in It was truly a historic moment for the coin, but as time would later go on to show — the first of many.
It was almost normal to see Bitcoin crashing and climbing back up for the next two years or so. But the first actual shockwave that the early crypto community experienced happened in April Suddenly, there were more and more people showing interest in crypto or — more specifically — Bitcoin. If we take a look at the beginning of , though, we would see a very different type of a story and for some, an answer to the question — when will Bitcoin crash?
This was the time when people seriously started to wonder — will Bitcoin crash? Throughout the years there have been many Bitcoin not to mention other cryptocurrencies price swings that impacted the world of crypto enthusiasts. That being said, never before have people feared Bitcoin crashing as much as in the recent months. So… Is Bitcoin going to crash completely? Or will it make a glorious return? According to Clifford Chi from blog.
Chi thinks and most of the crypto community would probably tend to agree that blockchain is one of the main factors that would keep Bitcoin alive and running. After all, this type of technology provides both fast AND secure types of transactions between two parties, eliminating any need of a third one i. Currently, quite a few companies are developing and improving their versions of the blockchain, having invested hundreds of millions of dollars into their respective projects.
Chi stresses the fact that rare things are valuable. Their natural scarcity and limited supply equate to these things being quite sought after, which in turn makes their prices rise. Cryptocurrencies are a great example of that.
At any given time, the supply of one or another crypto coin has a set amount that will most likely never be raised or breached. Add the fact that cryptos are very useful and versatile to the equation and what you get is a never-ending demand in the crypto world. Today it is considered odd and unusual to meet someone who has never heard about Bitcoin. Add all of these factors up and you get a pretty solid reason for why it would be unlikely to see Bitcoin crashing.
On the other hand, though, Clifford Chi from hubspot. Probably the biggest ones are bad press and security issues. While bad press might persuade some people to turn their backs on Bitcoin, the lack of effective security might harm the way that this coin is perceived. As Mr. Chi summarized, it is very difficult to predict a solid answer to the speculations will Bitcoin crash.
We see a very different type of prediction when we look at what cnbc. Roubini also mentions that a lot of scams are going to emerge out of this, most notably — wash trades. Wash trading is an act of selling something on the market and then quickly rebuying it yourself. The economist suggests that this is going to be one of the many ways that Bitcoin enthusiasts are going to try and keep this coin alive.
This just goes to show how hard it is to predict the possible outcome of events, especially with such a volatile matter as Bitcoin. Will Bitcoin crash? There is a lot of evidence supporting both sides of the argument. On one hand, Bitcoin is a staple of cryptocurrencies — it has become an example of how far cryptos have come in the past couple of years. On the other hand, though, Bitcoin has also had its fair share of downfalls. The huge burst that it is currently experiencing has made even the toughest, most adamant Bitcoin supporters re-evaluate their approach towards this coin.
The world of cryptocurrencies is an unpredictable one — prices of certain specific coins can skyrocket or plummet without no apparent reason. For this reason alone it becomes almost impossible to predict the future of Bitcoin with utmost precision. Your best bet is to keep in mind the opinions of expert economists, crypto enthusiasts and other professionals in the field.
At the end of the day, though, you should always make up your mind. The people in such places are usually eager to help. Whatever you decide to do, I wish the best of luck in all of your Bitcoin and cryptocurrency in general related ventures.
Save my name, email, and website in this browser for the next time I comment. A wonderful article that does not allow you to despair in the market and gives hope that the market will recover. At the same time it does not make empty promises but cites full-fledged arguments and emphasizes that history is cyclical and such moments were already on the market. Error, failed to subscribe.
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As the price of bitcoin rises bitcokn falls, some are left wondering what would happen if the coveted cryptocurrency crashed. According to a video from CoinTelegraph, a crash for bitcoin would have no impact on the world economy whatsoever. CoinTelegraph compares this possibility to the dotcom bubble of to wipl, in which the strongest companies, such as Amazon and eBay, emerged from the crash stronger than. Alexandra Yetter is a college intern at Blockchain News. She attends Columbia College Chicago where she is underway to earn her bachelor's degree in journalism. Her work has also appeared on Her Campus.
Anyone who has not heard something about bitcoin this year must have been hiding under a rock. This has truly been the year for cryptocurrencies, with bitcoin leading the charge. Other virtual currencies have also been making headlines, though, including the likes of ether, litecoin, ripple, etc. The story is also far from over, and may be just another chapter. So far, from what we have seen in , bitcoin trading can be very exciting, perhaps even too exciting or dizzying. That is why I have made this post to look at what holds for bitcoin for all those interested in investing. Before we get there, first let us have a look at the story so far. Looking at a chart of bitcoin prices shows a clear dominant uptrend for most of the year. That should already tell you bitcoin value is going up and should be invested in.
As the price of bitcoin rises and falls, some are left wondering what would happen if the coveted cryptocurrency crashed. According to a video from CoinTelegraph, a crash for bitcoin would have no impact on the world economy whatsoever. CoinTelegraph compares this possibility to the dotcom bubble of toin which the strongest companies, such as Amazon and eBay, emerged from the crash stronger than.
Alexandra Yetter is a college intern at Blockchain News. She attends Columbia College Chicago where she is underway to earn her bachelor's degree in journalism. Her work has also appeared on Her Campus. Sign in. Log into your account. Password recovery. Thursday, December 19, Forgot your password? Get help. Blockchain News.
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If Bitcoin Crashes Again, Will it Change My 2020 Prediction for Bitcoin?
Please be respectful when making a comment and adhere to our Community Guidelines. This is because more Gold becomes available and so it is no longer as rare. So, you should always speak to a financial advisor before making any major decisions. Bogart believes banks have seen how much money people are making with Bitcoin and do not want to miss. It is unclear whether he owns other bitcoin forks. Similarly, Request Network claims to be the future of commerce but that vision itself is actually a recent pivot from one for an online money transfer aggregation service. The market wide dump follows a Chainalysis report referenced by Bloomberg earlier today. Money Deals. Bitcoin has suffered two major price falls in less than a week, following months of market stability CoinMarketCap. Jeremy Corbyn.