BITCOIN KEEPS DROPPING – MARCH 2020 NEWS
The 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 you why the Bitcoin keeps dropping, at least at the moment.
Last Friday night, the most important cryptocurrency, the Bitcoin, dropped below the mark of USD 4,000. Thus to its lowest level in about a year. What happened and why the Bitcoin keeps dropping?
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 the 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 the 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?
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 Ripple, Litecoin, Ether and other Cryptocurrencies dropped as well?
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.
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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 longterm.
Why all Cryptocurrencies dropped?
Rather we like it or not, but most cryptocurrencies are depending on each other. The Bitcoin is the giant among cryptocurrencies. If the 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 that the Bitcoin will increase again.
Is Bitcoin still a good investment?
Yes! The Bitcoin is still a very good investment. Many experts agree, that cryptocurrencies are the future. Even very volatile, in longterm cryptocurrencies like the Bitcoin will win.