Bitcoin News
By Steven Anderson
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The situation of people who bought Bitcoin just a week age is like: Are you winning, Dad? No Son, pack your suitcase; I lost the house.
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Crypto is good when investors like to take the risk. Low rates are essential for buying. It will recover after the drop.
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Several investors feel like we are heading towards a crypto winter. It can't be helped, and many of them are buying fear. They are withdrawing BTC from the exchanges.
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For clarity on Macroeconomics, “It is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole.
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This drop in Bitcoin looks more like a global macro. Fears of a Fed tapering in response to inflation are causing institutional investors to sell "risk-on" assets.
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Selling does not mend anything now, particularly with BTC; however, many do not realize it. There is a mixed reason for why people are pulling off from BTC.
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The china crypto warning is considered one of the reason. Reportedly, the price of BTC has been dipping since February.
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The assumed china crypto warning is derived from: “People's Bank of China reiterated that the digital tokens could not be used as a form of payment."
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PBOCs officials have stated that virtual currencies are not real currencies and they cannot be used in the market.
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Long before in 2017, Beijing has banned initial coin offerings, and they clamped down several virtual currency trading in their borders.
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While many are panic selling, there are many who are panic buying. Since BTC is down 40% from its all-time high, it looks more crypto-specific.
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Any kind of drop is scary, whether due to the China factor, Elon Musk, or whatever. Those who realize the fundamentals of BTC will know it is important to hold.
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Seasoned investors are like buy the dip and relax. Crypto is way big for anyone to bring it down to zero.
The Currency Analytics
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