Is Bitcoin about to Fade?
Bitcoin Under USD$8000, Record Low Since Thanksgiving. Is Bitcoin about to Fade?
I am not a technical person and do not posses much knowledge about Crypto Currency. But my Concerns are Legit, it has raised many Questions in my mind like; Is Bitcoin about to Fade?; Is there any expected boom like the previous one?; Should I Withdraw all my Money from the Bitcoin?
I need the help of Crypto Experts out there... A lot of People have a Lot on Stake.
Well, I wouldn't call myself a "crypto expert", but I have some experience with trading and analyzing charts using technical analysis (TA).
This post of mine might help to put it into perspective.
There are also many fundamental reasons why this dive in price has happened. Among them:
1.) more and more pressure from governments in Japan, South Korea, India, etc. to increase regulations on crypto transactions.
2.) all the speculation around what's going to happen with Tether (USDT) and how it might impact the crypto markets if it's confirmed that they haven't backed their Tether with $USD at 1:1, as they have claimed.
3.) people tend to be in a fearful state and overreact to markets when they experience strong corrections like we've seen with bitcoin and the general crypto market. Media (television and social) reports tend to be a big influence when it comes to this fear.
And there are probably more reasons as well.