It's normal for crypto currency to rise and fall almost every time because its a block chain and i also beleive because of the tax been imposed on crypto currency by the American government, but bitcoin is the most affected crypto currency every time.
Even though it took more than three month to re discover itself from the fall.... But I think what actually controls this is funds coming in and out of the market.
Those are one of the factors that controls the Cryptocurrency market. But the ongoing bearish run isn't centred to the Chinese government banning crypto rather other unforeseen circumstances are behind it.
Exactly that's why the control of the market depends on the fund going in and out. A whale can decide to sell his whole asset which can actually affect the market and vise versa.
Laughs. That's why they're buying enough, so any small increase that occurs in the coin they bought plenty they can sell off and recoup reasonable amount of money frim it. Then buy again when its experiencing furlough.
There is one thing that people are not comfortable with and are yet to understand. In cryptocurrency , there is 1% probability of losing money. People only lose money when they sell their coin during a dip. Once there is no sell , when the price rises , you will surely benefit from it.
I believe in both results. It can be crashed because of personalities like president Biden announcement of taxing cryptocurrency, the price went down because investors are afraid of paying taxes and losing money. Or the other way around, Bitcoin will have new investors because they will buy when the price is dipping.