As a virtual cryptocurrency, the rise and fall of its value has some relationship with the operating conditions and market conditions of the industry. However, since Bitcoin has no underlying asset, the ultimate determinant of the value of Bitcoin is the investor’s interest in Bitcoin. Coin’s future forecast. People’s thoughts and senses are often affected by various objective factors, so it is completely conceivable that the price of Bitcoin fluctuates violently. Bitcoin will crash sooner or later, not now or in the not too distant future, this is not the first time Bitcoin has crashed, and obviously it won’t be the last.
This crash followed several previous crashes in Bitcoin, in 2011, 2014-2015 and 2018. It can be observed that before each collapse of Bitcoin, its market value is showing a booming scene, and investors are rejoicing for it, but soon, the bubble burst, and the value of Bitcoin fell at a lightning speed. There is a technical term for the decline in Bitcoin’s market value, “crash”, and through this word you can probably feel the rapidity of Bitcoin’s decline in value and how unimaginable things are happening. There is no doubt that investing heavily in Bitcoin is a gamble that requires extraordinary insight and extraordinary psychological endurance. The same is true for the collapse of Bitcoin in 2022. If you do a little research, you will know that the Bitcoin market also has a prosperous bubble economy period from 2020 to 2021. There are serious bubbles in a large number of blockchain projects, so that practitioners continue to pull The high market expectations have even reached an unrealistic height, but the actual environment is not satisfactory. In the face of the sluggish market, market confidence continues to lose.
“Assets have fallen by only 85%, is it considered bankruptcy, if so, then I declare bankruptcy.” A bitcoin investor posted such information on social networks. He entered the bitcoin circle in 2016 and once invested 40,000 yuan and finally made a profit of 300,000 yuan, but since last winter, bitcoin began to plummet, and the profits obtained in the past few years disappeared in just a few days. Since November 14 last year, Bitcoin began to flash crash, hitting a one-year low of $5,400, and the crash did not stop. Ten days later, the price of Bitcoin was only $4,300, a drop of more than 32 percent. On the 25th, Bitcoin fell below the most important recent psychological level of $4,000, and the so-called support level became increasingly blurred. Ethereum, ethereum and other major cryptocurrencies finally collapsed after U.S. Treasury Secretary Janet Yellen issued a stern cryptocurrency warning, evaporating more than $100 billion from the cryptocurrency market.
What specific factors affect the price of Bitcoin? There are many aspects to this complex issue. First, some negative press and the threat of further regulation pushed down the price of Bitcoin. For example: after the invasion of Ukraine, there were calls for cryptocurrency exchanges to ban Russian transactions; in June 2021, Chinese banks and payment institutions were told to stop enabling cryptocurrency transactions, and the Chinese government banned the mining of these currencies. Then in September 2021, all crypto transactions were declared illegal, which effectively meant that transactions like Bitcoin were banned. Over the years, FBI agents have confiscated millions of dollars in Bitcoin from criminals. It can be seen that if the supervision is not effective, Bitcoin may become an accomplice in the criminal behavior of criminals. Countries, Bitcoin have come under suspicion, with U.S. President Donald Trump describing Bitcoin as a “scam” competing with the U.S. dollar to become the “world’s currency.” Including some hackers’ cyberattacks and thefts against the encryption platform Poly Network, all of which have exacerbated investors’ mistrust of Bitcoin’s security and prospects.
Will Bitcoin be completely wiped out? Currently it won’t. After falling to the freezing point, the price of Bitcoin is sure to recover to some extent, and even usher in another new bubble boom in the not too distant future. Just like a lot of things going on in Bitcoin’s favor over the past year, they provide some protection for Bitcoin’s price, such as Amazon’s July 2021 release of the “Digital Currency and Blockchain Product Leader” The job advertisements have sparked speculation that it will soon accept bitcoin as a payment method, as well as new digital asset regulation policies released by U.S. President Joe Biden in March.
The Bitcoin market is very unstable, and the opportunities and risks are very prominent. Once the bubble economy comes, everything will be like a mirage, and it is difficult to be sure that you can grasp the opportunity of this transformation very accurately. Investing in Bitcoin still needs to be very cautious.
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