Bull and Bear Bitcoin Market - Why The Bad Run?
A member of Japanese pop group 'Virtual Currency Girls', wearing a mask with the symbol for BTC
Matthew Newton, analyst at eToro, one of the largest cryptocurrency retailers in Europe, told Express.co.uk:
“The recent price fall was driven by two factors. Firstly, Bitcoin was trending higher for about a week but failed to break a technical level, which caused a slight selloff.
"This was then accelerated by the news that Binance, the crypto exchange, might have been hacked, though markets recovered once the exchange allayed fears that funds were safe.
“Regulatory news coming out of US and Japan may also have impacted cryptocurrencies again, but shouldn’t be cause for alarm.
"Cryptocurrencies are still in the early stages of development. As the market grows, regulatory scrutiny is to be expected. Appropriate regulation should ultimately help promote best practice and afford protection to the consumer.”
Hang in there, when the US Securities and Exchange Commission whisper "not all exchanges are under regulator bodies" in US and Japan, now what, is the whole Bitcoin world is supposed to stop and crumble?
Does anyone actually do research? Most exchanges were created when seeing a void (a big gap, no one had filled). Experimental; no they met a demand. Governments are only waking up to this fact now, where have they been?
It is perturbing to think that people buy into this sudden outcry by the media, where were the Government run Exchanges five years ago for crypto? Was blockchain technology not transparent enough to be seen?
Sit tight and hold onto what you have invested in Bitcoin and Crypto, just my opinion.
Closing thought: Cryptocurrency is new technology, it deserves a chance to be tested, it is high risk, people are prepared to work hard developing in both cryptocurrency and security.
Most who invest in Bitcoin or any other Cryptocurrency are fully aware of the risk involved.
Leave your thoughts below, (I look forward to reading how you feel on this subject.) None of us would have Steemit or any other cryptocurrency if we felt our lives had not been affected by it in one way or another.
