Crypto market red hot!

[Riberet19]

The crypto market is plummeting along with the traditional markets, seeing drops of up to 30% in some of the most important cryptocurrencies, even Bitcoin has just fallen below $60000 after quite some time, we are seeing a major correction in the markets and this can get even worse, what thoughts do you have about the market action right now? Can we see worse corrections in the coming days or weeks?

 

[deucher]

I think that this is to be expected because a lot of people have earned and are selling coins and also whales knock down the price before the halving in order to buy cheaper and then sell if the price shoots up to 100 thousand. I think we can expect an even bigger fall

 

[Nomad]

It could be correction or it could be because of upcoming halving event. History says during the halving event market always goes down and it will take months for the market to improve. However, once the market starts improving, it will rapidly gain value.

 

[Timgab]

The great knock down firstly pops up the halving event to my mind. I was thinking the halving should be one of the factor that has contributed to the deep volatility.

I haven't known much about the crypto market, but from the expertise suggestions, let see if it gonna rock.

 

[Riberet19]

It could be correction or it could be because of upcoming halving event. History says during the halving event market always goes down and it will take months for the market to improve. However, once the market starts improving, it will rapidly gain value.

The great knock down firstly pops up the halving event to my mind. I was thinking the halving should be one of the factor that has contributed to the deep volatility.

I haven't known much about the crypto market, but from the expertise suggestions, let see if it gonna rock.

I think the halving event has something to do with it, according to news I read a few weeks ago, large institutional funds were betting bearish against Bitcoin after the halving event, so it may have been due to this, just think that Bitcoin It has fallen from 70k to 61k during these last weeks, which is a drop of more than 10%, if you calculate it with the millions or billions of dollars that they had bet on the downside, it is definitely a lot of money earned by these investment funds.