HI guys, this is a real bad period for crypto investor as their is red sea every where.Giving an analyisis over bit coin recent huge price drop i want you to first look at this graph .
Early investors claim its a routine buzz which happened every year at almost same time. The dips actually means market correct it self from recovering the investment from low level coins.But recent dip indicates the other side of the cover.
Actually there are two main reason behind the recent collapse
China Ban All Cryptocurrency Trading
After halting trading and banning all ICO,s recently china moves further ahead by banning all crypto trading with in country using any local or foreign exchange. It makes a bigger dent to the bitcoin as all you know china is a huge investor and minner of bitcoin. This recent development can further cause to lower down bit coin as low to as 6659 level if this resistance level break down then it can go eventually low to 5549 level. But in my opinion it will face a huge restriction level on 6300 and it will bounce back from here. Getting an conclusion of china ban its a temporary fud which will be dissolve in the upcoming weeks and you can see price going to high level on upcoming march.Also remeber there is a famous quoting of an ex american finance minister "what internet has taught us is to invest in every thing china wants to ban."
Major Credit Card Companies Ban Buying of Bitcoin
Bank of America, Citibank and jp morgan chase all bank have put a ban on buying bitcoin through their debit card . Now it initially puts a bad sign to the market and investor also. Banks are restricting it because crypto is a real threat to them they can do nothing except to make hurdles in its way but now its going to happen and we all gonna got out of this traditional banking system.It may also effect and created fud to further lower the price but for long prices will sustain and go ahead . Also remember that there are going to be decentralized exchange coming soon to the market it will give a big relief to long term investor .
Result. Although its red red every where but its a buying opportunity as well. Its like Christmas sale almost all coins are upto 50 percent discount. Whales are tring to create fud and capture the weaker hand investment.Its a hold time don't lose your passion at this time and always remeber "bears get the money pigs gets slaughtered" Now its upto you rather you want to be bear or a pig.
Note. Thumbs up this post if you like it. This little push will help me for my long term.
Hi, @starkhurrum, and thanks for this post. I think your evaluation is great but I also think it's still the best time to buy and/or hodl. 2018 is going to be the year of crypto and nothing can stop that. There have been certain bad policies or folicies announced in the last weeks, which resulted in the price going down across the board. But these are all just setbacks. Bitcoin alone has been through mud and dirt and came back shiny. It will be the same this year, especially with other crypto projects that can't go undetected anymore. Looking forward to following your future posts.
Thanks, @cocktailguy being in the crypto market now its not too difficult to predict whats going on . People get scared for a sharp drop and hence accelerate the drop and the whales gets the benefit. Recently China ban has effected much higher than anything else but its gona vanish after two three week and i can predict you can also see china coming back to cryptocurrencies not in near future but in upcoming time.Its nice to see you like it and thanks for your appreciation.