“Bitcoin Crash” Is A Trending Search Term And the Reason Behind It

Bitcoin, the largest and earliest Cryptocurrency’s journey is full of ups and downs. It faced downfalls more than 450 times since its advent. But, like every time it gets way to rise again and grab the high position. BTC is proving itself to be a competent token with high potential. If you want to learn more about Bitcoin mining, here.

In recent times, everyone seems to be searching for the term “Bitcoin Crash”. The previous year, the aspect of Crypto became very popular. And we can notice the growth of this industry in this period as well.

Present Status Of Crypto Market

Despite the growing trend of the Crypto industry, we cannot ignore the falling rates of this market. As the major coins are moving towards the bearish trend, the Crypto market is falling at a slow rate. You can find out about this condition from various reports.

A recent report by Bloomberg shows that most short-term traders are withdrawing their Crypto investments. Also, a more shocking fact is that the long-term traders are leaving this market as well.

BTC faces a recent crash where its rates go lower up to 17,000 USD. It is the token’s lowest rate in the last two years. This fact is giving rise to a sense of uncertainty among all the investors.

The trend of assuming that “BTC is dead” is around the corner again. This is the fact that the data of Google Trends is reflected. This downfall may seem to be a part of all Cryptocurrencies’ journey. But, the overall condition of the Crypto market is very deplorable. The performance of this coin may go further down in the coming times. Along with a major Crypto like BTC, the entire market may face a heavy downfall. Here, other well-performing coins may go through a similar crisis.

The Triggering Factors Of The Recent BTC Crash

The condition of Bitcoin is deteriorating every day. You can notice its downfall which is by 70% from its all-time highest in November. This major fall started in March this year with the approval from Federal Reserve in rate hikes after three long years. This proves to be a major factor in the downfall of a powerful digital asset like Bitcoin.

Apart from this, some factors are responsible for the latest BTC crash as well. Certain other prime factors responsible for this crash are the Russia-Ukraine war, the crash of Terra, and others. Rob Schmitt, who is a chief operating authority in infrastructure providers says that several factors are responsible for this crash.

He adds that combinations of macro variables like higher interest rates along with geopolitical disturbances trigger the deploration of the market. Also, the crash of Terra along with the insolvency of Celsius is another prime force behind the high amount of liquidation of Bitcoin.

Other experts are assuming that the collapse of LUNA is pushing BTC towards a crash.

Will Cryptocurrency Be Able To Survive?

Whenever Bitcoin was thought to be dead in the past, it showed its comeback. In this way, it is maintaining its position as one of the most powerful digital assets.

Many of the metrics forecast that BTC will recover from the present condition. A major metric is 200-WMA which makes such a forecast. It is one of the most used metrics which acts as an indicator of Bitcoin’s price. We can soon hope for an upward trend in Bitcoin according to this metric.

Conclusion

If we look at the history of Bitcoin, we can find out that this token may take months or a year to return to its good position. Though its price is the lowest at present, we cannot ignore the fact that it is rather in a good place.

The experts believe that though the rate of BTC is low now, it does not mean that it will be like this for long. In the long-term view, we will notice that its adoption and usage will not face an impact for long. Its growth will continue in one way or the other. As a whole, it is not long before BTC will grab its previous position of being the most used and influential Cryptocurrency.

– Advertisement –