What is going on with cryptocurrency?
With the bear run of the cryptocurrency, everyone wants to know – What is going on with cryptocurrency? What can we expect from it in the coming weeks?
The continuous decline in the price of all the altcoins including the bitcoin is creating the panic among the buyers. To analyze the condition of the cryptocurrency we have to discuss the different factors, affecting the price.
Hash rate war
In the past few days, the hash rate is one of the most talked points in the market. This has created a major uncertainty in the market. The hard fork condition has made the institutional investors take out the money, avoiding the risk and uncertainty.
Bitcoin ABC vs. Bitcoin SV
On November 15, there was a controversial split in the Bitcoin Cash Blockchain. This leads to the competition between the two competing chains Bitcoin ABC and Bitcoin SV. This resulted, the value of bitcoin cash suffers the same way as others.
There is a great role of regulatory pressure in the bearish atmosphere of the cryptocurrencies. The second reason for the negative effect is the reports of fresh investigations into the affairs of the controversial stablecoin tether (USDT).
The trade war among the country has created a pressure on the cryptocurrency. This resulted in the central banks tightening up the policies. Brexit is also one of the factors for the decline in the currency value.
Low trade volumes and high uncertainty
Altcoins not able to perform in the market has created an atmosphere of panic among the buyers. This has shown that there is a high rate of instability in the value of the altcoins. Making the buyer to sell off their cryptocurrencies and Low Trade Volume.
There is an assumption that the trend is likely to continue for a short period of time. This type of behavior can lead the price of the cryptocurrency in either direction.
From the above points, you may be thinking that the cryptocurrency is over. But some of the cryptocurrencies are expected to be recovered soon. Following points can play a vital role in it:
Can become the currency of the future.
Many countries in the world are suffering from inflation like Venezuela. The cryptocurrency can play a vital role there. The reason for this is even after the failure of the national currency it does not lose the value and help in speeding up the value.
Analysts believe that the bear run of the cryptocurrency mainly of bitcoin is over. From here you can expect the price of it only go up. This kind of analysis has calmed some of the buyers and waiting for the next Bull Run.
By taking all the points into consideration, we can conclude the answer to the question “What is going on with cryptocurrency?” and that is the condition of it quite sensitive but there is still hoping for it to perform well in the future.