Is the bitcoin (BTC) course crashing or not?

Is the bitcoin (BTC) course crashing or not?

Is the bitcoin (BTC) course crashing or not?

The last days have not been very pleasant for bitcoin (BTC) and the entire cryptocurrency market. After reaching the $ 13,000 mark, bitcoin’s price dropped considerably and the most dominant cryptocurrency is now trading around $ 10,236; a decrease of more than 20%. But not only Bitcoin did  suffer from heavy losses, ethereum (ETH) is also almost 15% in the red. Bitcoin SV (BSV) is even nearly 19% in the red.

Unfortunately, the correction of bitcoin has not led to an increase in altcoins. The entire crypto market lost around $ 70 billion in value.

But is the market for bitcoin in such a poor state? If we look at the bigger picture, is there a crash? If we go back in time, towards the beginning of this year, we see that bitcoin was trading around $ 3,700 at that time, which means that bitcoin has risen more than 175% since the beginning of 2019. In line with this idea, there are also known figures from the crypto-market that claim that it is hardly possible to speak of a crash. For example, Mati Greenspan, senior market analyst at eToro, says that bitcoin is the only asset that constantly crashes up:

John McAfee, for example, once again did not hide the fact that we would be wrongly concerned:

In any case, it is worth highlighting that a correction can be healthy for the market as a whole. In addition, there are still plenty of positive developments going on. For example, Bakkt plans to test bitcoin futures on its platform on July 22 . This probably indicates that the impact of these developments in the institutional field have not yet had an impact on the crypto market.

Yes there is volatility and yes the prices are falling, but keep the bigger picture in mind!

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About Shawn Morrison 242 Articles
One of the founders of BitzArena. Active with crypto currency since the rise of the bitcoin. Loves the innovative character of crypto and blockchain technology, and follows developments in the market closely. Likes to connect technology with business, and likes to make difficult concepts accessible to a wide audience.

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