Crypto CRASH: Why Cryptocurrencies Crashing Hard and What Is To Happen Next?

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Seem that this day came – Bitcoin and other cryptocurrencies crashing hard.

Keep on reading to know more.

What the hell is going on with Bitcoin?

Hard to say, but more likely bitcoin bubble started to pop as the price fell down from the near $20,000 highs of early December to $10,194, that is 25 percent lower.

Importantly, it’s not just Bitcoin that’s down. Everything from Ether, to Ripple, to Bitcoin Cash, to Litecoin is presently trailing somewhere at the bottom.


About the reasons

Actually, it’s always difficult to name a certain reason for price dropping.

“Volatility is quite common in the cryptocurrency world,” said Mati Greenspan, a Tel Aviv-based analyst at investment firm eToro.

Many experts talk about the link between the crypto crush and recent reports that South Korea’s finance minister said banning trading in cryptocurrencies.

South Korea is the third-biggest market in the world for Bitcoin trades, behind Japan and the US, according to the digital currency website Coinhills.

The Korea Blockchain Industry Association estimates that South Korea has more than a dozen cryptocurrency exchanges.

And there’s so much demand that the virtual currency has traded at as much as a 30% premium compared with other countries.

According to analytics firm WiseApp, the number of cryptocurrency app users in South Korea has increased 14-fold in the past three months to about two million users.

Taking into account the scale of influence to crypto-market it’s not a wonder that digital currencies’ prices reacted with a crush.

Source: coindesk.com

What’s next?

Of course, nobody will give you a guarantee what to expect from cryptocurrency and their prices. Anyway, some analytics make predictions about what to expect.

It’s only up to you to decide if the cryptos worth investing.

  • Saxo Bank’s “Outrageous Predictions” for 2018 called for Bitcoin to peak above $60,000 this year. But the bank’s analysts also say that the Bitcoin bubble will ultimately pop before the year ends. “After its spectacular peak in 2018, Bitcoin crashes and limps into 2019”.
  • Billionaire investor Warren Buffett told CNBC “We’ll never have a position in them. I can say with almost certainty that they will come to a bad ending.”
  • Noted Wall Street bear Davis Stockman, Ronald Reagan’s former director of the Office of Management, also responded that the cryptocurrency boom will end disastrously. “It’s basically a class of really stupid speculators who have convinced themselves that trees grow to the sky,” he said in an interview earlier this month.
  • Fawad Razaqzada, a market analyst with Forex.com, described the sell-off as a “cryptocurrency bloodbath” but said: “Suggestions that this is the start of the demise of cryptos is very premature.”

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Emperor Has No Clothes? Crypto Crash Reasons and Future Predictions
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Seem that this day came - Bitcoin and other cryptocurrencies crashed hard.
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