Responding to the decline in all cryptocurrencies prices this time I will discuss several aspects that caused this to happen. okay, let's just talk about it.
The quote above is news about China announcing to block the cryptocurrency market. The Chinese government prohibits companies and services in its country from conducting transactions using cryptocurrencies and provides a warning to all investors who trade crypto. This point explains that the state of China is really serious in responding to the rapid trade in the world of cryptocurrencies. and they took quick steps for their country to take a boycott decision to prevent investors, especially Chinese people from entering their money in the crypto currency market because it would cause losses for the Chinese government itself. This is what causes bitcoin to experience a sharp decline.
Did you know that China has done this for the second time, including China's boycott of cryptocurrencies. If you have played Crypto Carency for a long time, you will know this. So China first boycotted in 2017 and again in 2021 when bitcoin prices are at their peak.
this is a picture of the btc chart in 2017. let's look at the point where I marked bitcoin experiencing a significant increase, but after that it experienced a drastic decline. if we compare it with the current situation, the situation is not much different, BTC has decreased because China has boycotted the crypto currency market itself, so if you think BTC will experience a drastic decline only in 2021, that's a big mistake. In the past BTC has also fallen but over time we can see and prove it for ourselves that BTC will strengthen again at its highest point.
next one is not wrong anymore. why BTC is going down this is the cause. Elon Musk's tweet entitled Tesla & Bitcoin. So Tesla is currently no longer accepting bitcoins for the purchase of any vehicle products. clearly explained by Elon Musk and indirectly many bitcoin investors are wavering about it which results in investors selling their bitcoins which causes bitcoin to fall sharply.
my advice for friends who still have bitcoins who might buy it at a high price you should just hold it because the history of BTC itself is very good and has a high faleyou with a stable price. if experiencing a decline is a natural thing, the name is also the world of trade, sometimes the price goes up and there is also when the price goes down.
I think that's enough for my explanation this time about BTC, if you have other opinions, you can write them in my comment column. thank you.