Cryptocurrency market drop to 241 Billion Dollars

CryptoCurrency Market Drop

Cryptocurrency market dropped terribly and it loses over 241 billion dollars. What happened? what’s behind this massive fall? Well, if readers of this article have read our previous article on drop then they will see the sequence of this drop. This is actual the correction of market. Some people are saying that this is all planned by big whales. But in our view, this might be plan of big whales, and that’s why market is on its correction.

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We have a view that the price of bitcoin that might actually should not exceed to one ounce gold price. Although it is pioneer in cryptocurrency market and people earned a lot when it started rising. At that time people regret why they didn’t buy bitcoin @ 8$ and some regret they didn’t buy at $300. Inspite of this fact that they regret, some people are happy that they didn’t buy on top. Here we mean to say the peak time of bitcoin in last year, december, 2017. People who bought bitcoin at $20,000 and thought that bitcoin will go fly like rocket, their dreams changed into nightmare.

Today bitcoin price in Cryptocurrency Market

Right now, as of today, the price of one bitcoin is below $6000 and it may probably down more to its support price of $3000. This is our analysis, not a recommendation to buy bitcoin right now. It is just a suggestion to buy if you can afford to invest. The wise decision in market is buy from bottom and sell on top. This is a famous formula in every market.

If we see with the help of technical analysis, then according to strategy, the better point of buying is support point for longer time period. We see that the future time is for bitcoin, right now, it is facing too much problem and correction in price. The traders and investors may probably get dishearted on this situation. Because from the beginning of the year, 2018, the price is continuously in south. Market is red and investors are hesitant to invest in market because they are also seeing bears in market. The strong bears position in market is also causing selling pressure.

Selling pressure in cryptocurrency market

Due to this selling pressure and falling price of cryptocurrency market, cryptocurrency holders are now feeling insecurity and that’s why they are in hurry to secure their capital. If you haven’t yet read our earlier article, then please read it here. This down fall of bitcoin also worry miners who are working day and night to get reward of bitcoin. The graph of difficulty in mining is showing that it has rised up to 5000 and it might go up more. Means the difficulty is same but the reward is reducing, because market is down. That’s not the terrible time but bears are giving hard time to bulls.

Don’t invest blindly, although its best time to invest as the market is near to support. But it is strongly advised to the readers of this article that do proper analysis before you start investment or even thinking about that.

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