So it is no Secret that Bitcoin dropped below $9,000 at the time of me writing this it was at $9202.
The last time Bitcoin was this low was around November 2017.
Remember in December 2017 Bitcoin hit an amazing high of $19,500.
So why is Bitcoin down so bad right now well.....
There is no 1 thing that is causing Bitcoin, and nearly all other coins to be down right now, it is alot of things.
First Governments are freezing certain ICO's because they say they are scams etc. There is alot of FUD (Fear, Uncertainty, and Doubt). going around about Bitcoin, and other coins.
Facebook for the time being has banned cryptocurrency ads.
Now I do not know how wide the facebook reach is , and I do not know if they are going to ban ALL crypto ads, but I do know they are 100% for sure banning any ads they deem as a scam, or a possible scam.
There is alot of talk about the SEC etc, talking about Regulations, talks on Feb.6th etc.
Alot of Governements from South Korea, to India, etc are all talking about crypto regulations, and we all remember what happened when just China was doing this before. This is not something we have not already seen before, but it does seem to be more countries talking, therefore more media coverage, and more FUD from people twisting words, and spreading fear about this country called for a ban, and that country called for a ban etc, when in reality as of right now thre is NO BAN on CRYPTO that I am currently aware of, no official government backed ban.
Then there is the whole tether , audit fiasco.
I say we do not PANIC, do NOT fear. The Crypto Market has an interesting way of always bouncing back from things like this, usually in a huge way.
“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”
― Warren Buffett
I would and am taking this time to HOLD what I have, and Buy the coins I have wanted to buy while they are down.
I am not suggesting you do the same, Do NOT take my word, make up your own mind, make your OWN decisions.
Just do not give into fear, take a deep breath, control your emotions, and DO NOT TRADE OR SALE based on EMOTION.
Thank you for reading, if you liked this post Follow, and Upvote, if you did not well have a Nice Day Anyway.