Bitcoin Ressurgence? Is this a bottom and market turnaround
As we all know, Bitcoin (BTC) took a large nose dive over the past couple weeks, but specifically yesterday. With an all time high of 20,000+ for bitcoin we need to look at whether this recent crash was a correction or falling out of bitcoin. Is bitcoin still the crypto king or will it be replaced....with say ethereuem (ETH)? This implications of this crash are huge, causing people to lose their homes and other financial disasters. But where did this crash come from? regulatory news, tether rumors, china news? I think the real answer is an intentional push down of prices to let large institutional buyers get in at reasonable prices and accumulate bitcoin all while destroying small buyers. This crash has the potential to turn the tide in cyrptocurrency from one of individuals, and giving them the opportunity to grow wealth, and instead could turn to institutions once again making money and leaving small investors and individuals out to dry. Only time will tell but I think BTC will see another all time high by the end of the year.
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