CryptocurrenciesNews

Bitcoin and Altcoins crash, but nothing happens, they will rise again next week

Very important drop in Bitcoin and all Altcoins in the last 48 hours, but it was all due to a massive sale of capital from investors from the United States, who would sell Bitcoins and thus drag all Altcoins on the market.

Very important and unstoppable drop currently in cryptocurrencies, due to the weight that Bitcoin has in cryptocurrencies. Bitcoin this week has been sold at $ 2800 and even more, which has caused what is logical, a massive sale of assets. We must understand that cryptocurrencies do not differ so much from the stock market, but here we are not talking about values ​​that depend on their internal movements, these depend on factors such as regularization by states, the capitalization of currencies and the points where you can operate with these coins.

They are all in the red for Bitcoin. Reaching almost $ 3000 has meant that investors who bought when the currency was low, decided to sell in bulk. It can be seen very clearly on the CoinmarketCap charts, where it shows a 36% trading volume. In other words, almost 500 million dollars have been moved in 24 hours, only in this pool, therefore we are talking about a brutal movement in terms of sales or conversions of this currency for liquid money.

For us to understand, China produces Bitcoin mostly and it is known that part of these currencies, a large part, by the way, is in the United States as capital investment, something that in the country is quite traditional. Bringing to a value that allowed obtaining a return of more than double or triple (we must bear in mind that many investors had Bitcoin for a long time), has led to a massive sale of assets, which has thrown the price, making the Bitcoin went from over $ 2700 to under $ 2000 in less than 48 hours.

Experts have long been warning of two movements in Bitcoin. Some speak of a bubble that had to burst at some point, which seems to have happened and others commented that the value of this cryptocurrency could reach $ 4000 by the end of the year. This drop in capitalization is just the beginning of many similar moves from now to the future. After a long rise, it has fallen due to the selloff, but, this next week, we should see how the acquisitions of Bitcoin by investors return and it is possible that it exceeds € 3000 for the first time, so it is a good time to invest , but maybe not in Bitcoin.

If we look, the rest of Altcoin is down as much as 30%. On Tuesday we saw how in less than two hours Zcash doubled in value to almost $ 300 for each of these Altcoins. The reason was the publication that JPMorgan had invested 800 million dollars in the organization behind this cryptocurrency, due to the interest of the largest bank in the world in layer zero of its blockchain. Today Zcash is worth less than $ 170. Ethereum after weeks of rising, also falls and quite a lot, being for less than $ 145.

Ripple is another one that falls and it has lost 10 billion dollars in just one week, going from 17 billion dollars of capitalization at the beginning of the week to 6.2 billion dollars, which is more of a 50% drop. Logically, this has been a lot of concern in Japan and South Korea, which is where the largest volumes of operations are concentrated.

Is it time to lose your mind? Not at all. They all fall, it is true, but there is only one culprit, Bitcoin, which is the most important currency and with the highest capitalization, so any movement in the market of this cryptocurrency, supposes a wave of falls of the rest of Altcoin that cannot be counteract with simple operations. If Bitcoin did not fall so much, the value of the rest would possibly be stable and in the green, but assuming such a drastic fall, it drags the rest of cryptocurrencies.

What I do? Well, it's very clear, buy. If you sold Zcash, Bitcoin, Ethereum or any other cryptocurrency this past week when the price was crazy or you have capital to invest, this is a good time to get hold of some Zcash or Ethereum, which are the ones that will come out with the most momentum after this small recession . Everything indicates that the weekend will be mostly red in all pools, but we should not fear absolutely nothing, since possibly on Monday they will rise again.

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Robert Sole

Director of Contents and Writing of this same website, technician in renewable energy generation systems and low voltage electrical technician. I work in front of a PC, in my free time I am in front of a PC and when I leave the house I am glued to the screen of my smartphone. Every morning when I wake up I walk across the Stargate to make some coffee and start watching YouTube videos. I once saw a dragon ... or was it a Dragonite?

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8 comments

  1. Well after 3 days of uncertainty, and buying various low price alts like golem, BCN and ripple I have gained almost 0.4 BTC.
    Both Roberto and I were right and the unjustified collapse due to investors' fear has paid off.
    Thank you all very much and happy trade.

    PS: I use Poloniex… ..

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