History repeats itself, is Bitcoin going to be like a 2017 crisis?
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History repeats itself, is Bitcoin going to be like a 2017 crisis?
The situation in the crypto and Bitcoin markets is the same as a bearish wig / bubble from four years ago on May 21, said Josh Younger, head of interest rate derivatives strategy at JPMorgan Chase. Selling cryptocurrencies slotxo The latest (cryptocurrency) slump that caused Bitcoin to tumble more than 50% from its peak is similar to what happened with crypto in 2017 that showed a late-bullet recession before. Will collapse heavily
Younger said the recent rise in the total cryptocurrency market cap was more gradual than the 2017-2018 period, but the easing into the downtrend is very similar to the 2017-2018 bubble burst.
He said that the rhythm and size of the legs are down. "Strangely similar" to the previous round And just like in 2017, investors have begun to diversify from Bitcoin and Ethereum to stablecoin and altcoins as the crypto craze continues. The more investors return, the more risky assets they buy.
Soap bubble 2017 - 2018
The 2018 crypto crash (also known as the Bitcoin crash and the Great crypto crash) was the biggest cryptocurrency selloff since January 2018 following a record boom in 2017. On December 17, 2017: Bitcoin's price briefly hit an all-time high (at the time) of $ 19,783.06.
December 22, 2017, Bitcoin's value dropped below $11,000, down 45% from its January 12, 2018 peak. Amid rumors that South Korea may prepare to ban cryptocurrency trading, Bitcoin's price dropped 12%.
From January to February 2018, the price of Bitcoin fell 65%. By September 2018, the MVIS CryptoCompare Digital Assets 10 Index had lost 80% of its value, making the cryptocurrency market decline in percentage terms more than the burst of the bubble. Dot-com in 2002
In November 2018, Bitcoin's total market capitalization dropped below $100 billion for the first time since October. In 2017, the price of Bitcoin dropped below $4,000, representing an 80% drop from the January peak of the previous year. Bitcoin subsequently hit a low of $3,100 in December 2018.
Economist warning
Joseph Stiglitz, an American economist who won the 2017 Nobel Prize, said, "(Bitcoin) is a bubble that will bring many people to a lot of exciting times while It goes up and down.” He also pointed to the problem of Bitcoin being used by criminals. The problem of lack of objectives that are beneficial to society. and said it should be labeled as an illegal act. |
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