Bitcoin Keeps Dropping – Will Cryptocurrencies Fail in 2020?

bitcoin keeps dropping
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Bitcoin as well as most other cryptocurrencies continuing dropping. Is it a crash? Is this the end of cryptocurrency? Let’s have an expert look into the current crypto market situation. We explain to you why Bitcoin keeps dropping, at least at the moment.

Last Friday night, the most important cryptocurrency, Bitcoin, dropped below the mark of USD 4,000. Thus to its lowest level in about a year. What happened and why the Bitcoin keep dropping?

BITCOIN KEEPS DROPPING – MARCH 2020 NEWS

Let’s evaluate what happened last Friday. So during the night, Bitcoin reached a low of around USD 3,950 on the European trading platform PrimeXBT. Unfortunately, which means that Bitcoin lost around a third of its value within 24 hours. We still remember the days, when one Bitcoin was worth more than USD 10,000. Nevertheless, in the morning the price recovered to over USD 5,100. But the shock within the crypto community still sits deep.

Bitcoin Price Chart March 2020

Bitcoin and other cryptocurrencies have been on the decline since the weekend. Recently, and still, in February, the cryptocurrency was still quoted at an annual high of around USD 10,500. Unfortunately, the giant of all cryptocurrencies, the bitcoin keeps dropping but followed by all others.

Why Did the Bitcoin drop in March?

bitcoin drop march 2020

The situation is confusing. Why the Bitcoin keeps dropping? Experts were clear about Bitcoin in the future. What are the reasons that Bitcoin keeps dropping? Therefore, we’ve talked to some experts to check what’s going on. The folks from the German Emden Research said:

THE PANIC ON THE STOCK MARKETS HAS NOT STOPPED AND TOOK THE BITCOIN AS WELL AS ALL OTHER CRYPTOCURRENCIES DOWN.

The situation is now completely confusing and out of control. Many investors are currently on the verge of a total loss:

“NERVES ARE LITERALLY ON EDGE,”

says Marcel Isler from iMi Blockchain. The confusion goes all around the tech sector.

Why ALTCOINS dropped as well?

cryptocurrencies dropped march 2020

Investors are swapping crypto investments for cash to offset losses from other asset classes, comments the German analyst firm. Meanwhile, other observers referred to reports in the social media: the fall to the annual low followed Twitter reports according to which the Bitmex trading platform used for derivatives trading on crypto-currencies was temporarily “offline”.

What is your expert opinion? Have you bought or lost cryptocurrencies during the last few days? Let’s discuss the current Bitcoin price! We’ve love to hear from you. So please leave a comment below.

And finally, if you’re looking for experts in crypto consulting, don’t hesitate to contact us. Take advantage of our 1 on 1 cryptocurrency training, join our cryptocurrency webinars, or take certified crypto online courses.

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FAQ about the latest Bitcoin Price Drop

Why is Bitcoin dropping?

Bitcoin dropped because investors needed cash. One of Bitcoins’ advantages is, that cryptocurrency investments don’t have to be long-term.

Why all Cryptocurrencies dropped?

Rather we like it or not, but most cryptocurrencies are depending on each other. Bitcoin is the giant among cryptocurrencies. If Bitcoin drops, it’s most likely that investors lose trust in any other cryptocurrency.

What was the lowest price for Bitcoin?

Bitcoin dropped down to USD 3.950 in March 2020. Falling from over USD 10.000 in February 2020. Therefore, it’s just a matter of time the Bitcoin will increase again.

Is Bitcoin still a good investment?

Yes! Bitcoin is still a very good investment. Many experts agree, that cryptocurrencies are the future. Even very volatile, in long-term cryptocurrencies like Bitcoin will win.

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Marcel Isler

Marcel Isler

Marcel is a Business Economist and founder of iMi Blockchain. A Consultant and international Keynote Speaker. He studied at the University of Oxford. He helps enterprises to implement Blockchain applications. On our blog, he writes about distributed ledger technology, smart contracts, cryptocurrencies, industry news, and future trends.

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