Bitcoin's Massive Crash Is Causing People Everywhere To Freak TF Out
The cryptocurrency bloodbath continues.
Everyone better HODL, cause it's a bull and bear market people. HODL (meaning "hold on for you damn life") - has been the term frantically thrown around as Bitcoin (among other Cryptocurrencies) continue to astounding plummet. People are looking to sell, sell, sell and get out as fast as they can, while others are holding on to what looks to be a financial rollercoaster.
What's the worst part about this crash? Well it's the uncertainty that is has created around the currency. Due to continual government interference, nobody can tell whether the drop is part of Bitcoin's annual dip or if this is the catalyst that really means the "end of cryptocurrency". Let's elaborate, because there are two sides to the story and neither are clearcut.
According to analysts and longtime Bitcoin investors, this drop happens on a yearly basis. People call it "the perennial dip" - going so far as to call it a tradition. In 2016, the cryptocurrency market crashed over an eight day span in the beginning of January. It later recovered, but it took a whopping 43 days for that to happen. The same thing happened again in 2017 at around the exact same time of the year- however this time it took fifty days to recover.
On the other hand, government regulations are looking to gain a chokehold on cryptocurrencies more than ever. China and South Korea are two nations that are open about their desire to stop the digital giant. Joining the mix now, in what can only negatively influence the profit margin, is Russia. Reporters have indicated that president Vladimir Putin thinks that legislative regulation is essential and impending. Not only that, but France and the United States have promised to soon investigate the cryptocurrency.
So really, what do you make of this? Some say it's all part of a bull and bear market that Bitcoin rotates between. The bull - with it's upward moving horns - is the tremendous rising that was seen in December. This drop, much like the downwards sweeping of bear paws, is the bear market. But with international governments taking a greater interest in cryptocurrency, there's no doubt that thing within the digital currency market will see some changes.
So whether you're looking to invest in any form of cryptocurrency or you've been on this rollercoaster ride one too many times, only one thing is certain - hold on for your damn lives.