How has one statement has made a big impact on Bitcoin?
Just in: Bitcoin Crash 2022, today a huge crash is seen in Bitcoin cryptocurrency. If we look into the cryptocurrency market we can see a huge crash on Bitcoin, which has been falling seen a long time ago. Also if we look at the foreign exchange we can see more down falling in the crypto market as compared to the India crypto market in the foreign exchanges.
What caused Bitcoin crash 2022?
There are many reasons behind the Bitcoin crash, but the most correct reason among them seems to be that due to the arrival of a new variant of Corona, people are scared and they are withdrawing their money.
And another exact reason behind the Bitcoin crash is that there is a lot of talk about Bitcoin being banned in India and because of this people have started withdrawing their money and this is also the exact reason why Bitcoin and all cryptocurrencies are crashing.
Charlie Manger made a negative statement about Bitcoin
Charlie Manger is a billionaire investor and he gave a statement and this statement is being told as the reason for the crash of Bitcoin. Charlie Manger said in this statement that Bitcoin should not have been invented and Charlie Manger also said in his statement that China has done very well by banning Bitcoin and this statement is the biggest reason for the crash of Bitcoin.
In India responsible for falling Bitcoin
The reason for the crash of Bitcoin and all other Cryptocurrencies is being told to India because, after the statement of Charlie Manger, panic selling started in India and this can also be a reason for the crash of Bitcoin.
What can you do, when Cryptocurrency is crashing?
Do always remember that all CryptoCurrency are volatile. For the people who have invested in cryptocurrencies for years, there is no 100% real prediction that your investment will grow many times. As a previous record of the highest of nearly $20,000 in December 2017, by the time December 2018 the market has fallen below $3,500.
Remember, even though Bitcoin was down by 50% in April it has gained 25% by May this year. So there is nothing to panic much about with the downfall of the market, who knows where the bitcoin price will be by the time you read this article.
Why it is important to understand the market before you invest?
When you know the risk of investing in the Crypto market, why someone who has been would intrigue you from the sideline. This might late you think of buying the bitcoin when the price is crashing. But before you go investing in the Bitcoin cryptocurrency always asked yourself these two questions.
If you can consider whether an 80% to 90% moving down still holdings can cause you to lose sleep at night or sell. So if the answer to either of those is a yes then do not make investments.
Secondly, if any asset has up and downs, then the cryptocurrency has a more downfall because of the amount of hype and FOMO involved. The fact is that people still actually don’t know what it is, they just invest in the market because they heard someone is talking about it.
Always asked yourself what is the amount you can afford to lose because any investment has inherent risk. So if you select your assets you need to be wise and you need to have concrete reasons why you are investing in them.