3 Big Reasons You Shouldn’t Give Up on Bitcoin

Bitcoin, which climbed to the level of 20 thousand dollars in December 2017, almost fell from the peak with the start of 2018 and its price is at the level of 6600 dollars as of the moment.

The total market volume is 119 The reason why Bitcoin, which lost billions of dollars in the first quarter of 2018, experienced this loss is undoubtedly the regulations and some bans made by large companies and governments regarding cryptocurrencies and ICOs.

Bitcoin 2 of the year. CNBC Financial Analyst Brian Kelly, who said that it will enter the recovery phase in the fourth quarter of the year and will regain its former trust by investors, explains this thesis with the following articles:

1) The USA’s Tax Season Will End

US tax season ends on April 17. In other words, US citizens, who made money from the last 20 thousand dollar increase, will pay their taxes on April 17.. It is known that investors are under pressure to sell Bitcoin before this taxation process.

2) Coincheck Sold

Coincheck, one of the largest cryptocurrency exchanges in Japan and with a very high daily trading volume, is the country’s largest cryptocurrency exchange. Sold to Monex, a major financial institution. This event is expected to have the following impact on the price of Bitcoin:

“The acquisition of a cryptocurrency exchange by a legally proven financial giant like Monex is very good for the future of cryptocurrencies. positive.”

3) These Decreases Have Happened Before

When we look at the annual charts of Bitcoin, we see that there are months in which it has a serious downward trend every year. we can easily see. In fact, in the previous years, except for 2013, the price was always in a downward trend in March.. Bitcoin, which is in a downward trend in March almost every year, always showed an upward movement in April.. In other words, it is thought that history will repeat itself.

Not for Other Reasons

Cryptocurrencies are more of a new market and have not yet been adopted and understood by everyone.. Even at the big Blockchain and Cryptocurrency meetings, there is still an attempt to explain what Bitcoin is.. The number of people who have mastered the subject is really small and as the popularity and awareness increases, the number of investors will increase and therefore the price will increase.. In addition, since the legal regulations in countries such as the USA are not fully clarified, many crypto currency breakthroughs cannot take serious steps.. After the legal regulations are fully established, many breakthroughs will enter the market effectively.

In addition, in a short period of 1 – 2 months in 2018, Bitcoin, which brought serious figures to its investors almost every day and climbed to the level of 20 thousand dollars, waiting for a fix. Its price had indeed risen unusually, and what we call “Whale” (i.e. investors who hold the majority of Bitcoin in the market) made a rally to sell their goods at the higher price and collect them again at the bottom.. At this point, when we look at the largest Bitcoin Wallets in the world, we see that between 2000 and 3000 Bitcoins are purchased every day.. That’s about $20 million. This means that the Whales have already started to collect the goods they sell high from the low levels.

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