The new week greeted us – as is the case during the difficult bear market – with a new wave of falls in the bitcoin market. The oldest cryptocurrency fell below $ 5,000.
Yes, it happened! Investors slept peacefully for many months, the level of 6000 dollars seemed almost impossible to beat. A lot of people probably assumed that only a long depression is waiting for us … and a new bubble! Unfortunately, the reality of the cryptocurrency market is not always that simple.
Everyone who has experienced at least one full bubble in cryptocurrencies on their own skin knows that each of them ends with a spectacular decline, during which social media or internet forums even swell with flashy posts about the end and final fall of bitcoin.
In such periods you can also meet with proposals of potential successors after the main crypto bond, which after all dies, because its rate is falling. Previously, you could find visions of replacing BTC by Ethereum, today the author of the text found shocking information that Bitcoin was eventually to be dethroned by Ripple. Of course, everything is shrouded in a dark conspiracy theory about suspicious bankster plans …
Despite such Dantean descriptions, the coin created a decade ago by the mysterious Satoshi Nakamoto still exists. What’s more, around it created the entire ecosystem containing other cryptocurrencies, bitomat networks, various companies or social organizations.
Paradoxically, bitcoin is becoming stronger, especially when compared the current time with the period from eg 2014 or 2015.
Why is it bad if it’s good?
Exactly, if it’s so great, why is the btc going down dragging behind itself into the abyss and other e-currencies in this market? Now, cryptocurrencies are subject to the same economic laws as shares or fiat type currencies. After intense and spectacular rises, there must be a rebound that we are just witnessing. Just as the bubble from 2017 grew for several months, it is now breaking for a similar period.
We do not want you to treat this text as investment advice. Despite everything, it is sometimes worth thinking twice about the decision you want to make in a stressful moment for us.
To help you explore the market’s moods, we suggest taking part in our Facebook poll and Twitter, in which we ask if it is a good moment for long-term investment in Bitcoin.
The above text does not constitute investment advice, you always play the stock market at your own risk!