The dark period that is November to February was full of bad news in crypto world including Bitcoin. The term FUD is usually used in crypto market which means fear, uncertainty, and doubt. FUD started from the news of Banning of Crypto in South Korea, France and Russia regulatory system, Tax system from different countries and fake news of banning in India but that was only tax notices to crypto traders. Comments from Government official and investors are too. These were the famous reasons of price fall of bitcoin, ethereum, ripple xrp, bitcoin cash, cardano etc.
RAPID FALL OF BITCOIN PRICE
Moreover the news of crypto stolen from exchanges highly affected the risk of holding virtual currencies. The all cryptocurrencies are plunging in value; the price of btc fall from last month high of 17000$ to 7500$ this day. Some experts claimed that it is just correction but these hypes and spikes are the reason of fear to newbie in crypto world. Total market capitalization fall below to $323,772,341,999.
Tether and Bitfinex has been subpoened by the Commodity Futures Trading Commission. The question at hand with Tether is this: does it actually back each Tether token with a U.S. dollar, as it says it does?
But Tether isn’t the only issue with a comprehensive list, but instead a look at some events that have transpired with Bitcoin and other cryptocurrencies lately that affect how people think about them.
Bitcoin, Ethereum and Litecoin are the most prominent cryptocurrency. Startups offer new coins, or tokens, in events known as ICOs, or initial coin offerings. Sometimes ICO are fraudulent therefore the Securities and Exchange Commission has taken notice of ICOs too, and its chairman has written about their risks to investors. More regulations and protections introducing by different countries by time to time for investors could actually make the cryptocurrency world more stable.
Now China has completely banned Exchanges trading. Bank of America and Chase introduced that they will no longer allow people to purchase digital currencies with credit cards. Coincheck, the one of the most famous Japan based exchange hacked and stole hundred of million dollars by hackers.
Cryptocurrency is a classic bubble behavior where people start buying because they expect the price to keep going up.” That in it can actually cause the price to keep rising—until it doesn’t any longer. To make a rise again it required to get out from these fud and bad news. For example, if China allows crypto with or without regulatory system, the price can be back as of November. And also it is very clear like my subject that now Crypto cannot bear any fud
Just hope to rise of BITCOIN PRICE and all alt coin price.