January’s cryptocurrency downfall getting fresh on Tuesday when Bitcoin drops over 25 percent, the fear of regulatory crackdown appears in the air. The second-day rally continues, other cryptocurrencies are following. Ripple sank over 40 percent, reaching below the dollar level while Ethereum drops below the thousand dollar level, losing over 25 percent of its value.
For those of you who have invested in the early days, those days seems like a deja-vu. We all remember the previous years but I believe that specifically during this bloody-times when the media is focusing on dirty the month about the future of Bitcoin, we need to step-ahead and to remind to those who are worried, that there might be no reason to panic.
The Reasons for the drops are repeating themselves, This year it was South Korea who created the - Fear, Crackdown Regulation Checks.
Please pay attention - we promise to attach the source.
2017 - The Year Bitcoin Joined the Global Financial System.
By the first days of January 2017, Bitcoin price was standing on below the $1,000 level before the drop started. After the first 2 weeks of 2017, Bitcoin is losing over 20% of his value.
At 5th of January during the drop, some bearish Media channels (supported by banks of course) are not wasting their time and publishing a post explaining Why You Shouldn’t Invest In Bitcoin (Time.com)On top of that, the media is spreading fake news saying that China already Ban Bitcoin while it didn’t.
(Cointelegraph).Some of us remember and those who are not - thanks to TradingView for the historical data (chart). The three red candles are clear enough, so I wouldn’t even edit the picture to draw a yellow circle. This is how we started 2017. What was the reason behind this drop? Well, It wasn’t because Santa didn’t come to town. Remember those words: Fear & Panic - In other words, humans are dramatic. What’s the media’s job? to create a huricane out of a simple check. Central Bank of China Launches checks on exchanges - Bitcoin Slides (Reuters)
2016 - The Year of Different Rises
Let me take you another step back in the history to 2016, this time they are is marketed with a yellow arrow to avoid confusion.
After reaching an all-time high of $480 by the early days of 2016, Guess who’s back?
Washing Post is posting: R.I.P., Bitcoin. It’s time to move on. " Not long ago, venture capitalists were talking about how Bitcoin was going to transform the global currency system and render governments powerless to police monetary transactions. Now the cryptocurrency is fighting for survival. “
This time the cause is not regulators since they weren't even concerned at that time. The reason was Mike Hearn, a former contributor to Bitcoin Core, saying that Bitcoin will fail. At that time Mike had enough influencing power to drop Bitcoin by 10% through the fear he has created among investors who supported him.
Mike Hearn sold all his Bitcoins in 2016 and Market proved him wrong.
2015: When Bitcoin was a Wild, Wild-West
Bitstamp 5 million dollar hack (at the time that was quite a big amount for an exchange), Silk Road is being related to Mt.Gox and we read are reading on the news that the price of bitcoin is continuing to crash, dropping as low as $173 early Wednesday, according to stats from CoinDesk. It is down from about $244 just a day before, a drop of nearly 30%.
30%? Deja Vu?After 3 days, The Atlantic is posting an aggressive article against Bitcoin: Without Drugs, What's the Point of Bitcoin?
Pam, pam, pam, pam - Another one bust the dust!We have been receiving a large number of emails and requests with the same question - Is there a reason to Panic?
Let's make it simple - we never tend to provide any financial advice - we are actually against it. We are here to spread ideas and to hear your opinions. As the history tends to prove us until today - After they winter should come the spring - That was the nature of Bitcoin up until now.
Honestly? Seems that we just got a discount from the market - So we got to be happy and not to panic.Do your thinking, Manage your money carefully and plan your new year. We truly believe that 2018 is going to be unforgettable for Bitcoin.
Originally Posted: http://www.readbtc.com/btc-price-plunges.html