Latest Bitcoin (BTC) Price Crash Makes Crypto Investors Pick a “Fight or Flight” Action?
At this point, there is not even need to explain how dire the situation of Bitcoin is. The token is suffering a lot in the market. Trust in Bitcoin erodes as the investors are starting to sell their assets because the price of Bitcoin simply does not go up again.
2018 has been a very bad year for Bitcoin as the token keeps falling in the market and many investors have lost their faith because they were only able to look at the short-term results of their investments. Speculators, which had a blast in 2017, are also slowly leaving Bitcoin as they are now losing money.
When the bear attacks, everybody knows that the first ones to fall are the investors and this last attack was very powerful. Bitcoin has reached its 13-month low in prices and it is now worth less than $4,000 USD.
The token has fallen as far as $3,463 USD, but then it has bounced back up. Still, it is under $4,000 USD, a value that acted as a sort of a barrier last week.
Some People Have Given Up
As expected, some people simply decided to leave the market. They believed in the bear market but lost their faith as the bear market made things way too hard for them. The price had a massive impact on investors which are not that old and broken down their spirit.
While some people are speculating that there is “something bigger” behind the price fall, some others are just aware that a lot of people have set up stop loss triggers and that they are automatically selling when the price goes under a certain value like $4,000 USD.
Obviously, we also have the people who claim that Bitcoin is dead. They always like to show up and affirm the same thing every time: this time Bitcoin will die. Luckily, they have been wrong 100% of the times so far, so we shouldn’t pay too much attention to them.
The spin-off from the classic Bitcoin haters are some people who actually have a more interesting point: that Bitcoin will become increasingly centralized because of its low price. As miners will leave the game, only a few will be able to mine and this is will make the market worse. Generally, this kind of people was more enthusiastic about Tron (TRX), Stellar Lumens (XLM) and other proof of stake tokens.
Bitcoin is certainly not dead yet and it will possibly resist as it has done so already a lot of times. The oldest crypto is certainly strong. However, some investors have decided to take the flight. It’s normal and some of them will come back if (or when?) Bitcoin gets up again.