Will the crypto market collapse one day?

[Razor1911]

The tremendous upmove from all the crypto currencies has been talk of the town lately. Specially Bitcoin, which soared from $9000 to $63000 in so short time, took every trader by surprise. No one ever had imagined that the growth will be so high and so steep.

But the love story of Bitcoin has ended when Elon Musk's tweet and China's crackdown news bombarded the market. The market crashed and went down like a rocket hitting ground. Now the price of Bitcoin is almost 40% of the all time high.

The way the crypto market is falling, I am in dilemma now. Is it possible that market will collapse one day. The way, many countries are putting ban on it's uses of crypto, is it possible that one day cryptos will have no value at all. What do you guys think about this?

 

[Wisdom01]

I am not sure if such thing is going to happen , because now that there are more development in bitcoin, it would be very hard to see the coin falling and crashing , so lets be optimistic about bitcoin development

 

[sincerem]

But what I mean is the collapse of everything. Will there be any future of crypto market? Will Bitcoin will crash down to ultimately $1? Actually this all this all are hypothesis and it cannot be proved as of now. But there is also some chances that it may reach that level too. It can only happen when almost all the countries in the world ban Bitcoin.

Laughs, and do you see almost all the countries banning crypto any time soon?? The more one ban it the more its paving way for others who doesn't know much about embracing it. You made right statement no doubt, if almost all the countries in the world ban it it will take its toll to $1. That time it will become valueless, but i don't see it happening.

 

[Razor1911]

Collapsing have always been part of the business around crypto. Their is time of bearish and bullish run in the coin market. When the market moves down too much it means the bearish is on the alarm. At the moment we're simply on the bear market, hoping things change for the better and enter into bullish run.

But what I mean is the collapse of everything. Will there be any future of crypto market? Will Bitcoin will crash down to ultimately $1? Actually this all this all are hypothesis and it cannot be proved as of now. But there is also some chances that it may reach that level too. It can only happen when almost all the countries in the world ban Bitcoin.

 

[sincerem]

Collapsing have always been part of the business around crypto. Their is time of bearish and bullish run in the coin market. When the market moves down too much it means the bearish is on the alarm. At the moment we're simply on the bear market, hoping things change for the better and enter into bullish run.

 

[SpySerp]

Most likely for cryptocurrency a great future

 

[Sotherefore]

I don't see this happening anytime because cryptocurrency is the future digital currency and that is what I have been telling a lot of people that do not understand,cryptocurrency is here to stay and those that have tried to ban cryptocurrency have already fail because it is something they will not be able to do.

 

[Janiya]

Not at all and this is not as easy as we are thinking that one day it will be collapsed.
But we can think better than thinking negative because whatever we think happens very easily so we should think positive and we should promote others as well to invest in cryptocurrency because it is well known currency in the world nowadays and thousands is very less millions of people has invested in cryptocurrency and now they are on wait to get doubler and tripler amount from the investment.
In most of the countries cryptocurrency investment is not allowed yet the government isn't issued any letter related to this but soon cryptocurrency will be there in every country and every government will allowed this.
But from my perspective cryptocurrency will never ever collapse because every good work never vanished easily.

 

[Lens1000]

My take is that cryptocurrency is like the fiat currency. Fiat currency fluctuate too but I think the instability of cryptocurrency is more pronounced and need to be addressed inorder to restore confidence to the people who invest in it.
When one big player sneezed everybody run helta -skelta. They are thrown into total confusion.

 

[Sotherefore]

See! The chart of yesterday is clear indication that buyers are heavy around 30k levels. The price of bitcoin went to around 31000 yesterday, but the buyers got activated in that level, and pushed the coin to its earlier level of 34k, and now a further push has moved it back to 36k levels. I think the buyers will start dominating the market soon.

seriously they cryptospace is completely unpredictable because there was a prediction that bitcoins that bitcoins will reach 100 thousand dollars before the end of this year but everything just came down all of a sudden, I just believe the market has started picking up.

 

[Doradorwa]

Cryptocurrencies are very risky and it's not an investment you can put your future on. The probability of the collapse of the crypto is certain. Countries all over the world are feeling threatened about it and this also is a cause for it's downfall. So far only one country has accepted it as a major currency. It's going to be hard.

 

[Razor1911]

okay I just pray that the price will not drop below that point because this is seriously shrinkging my portfolio,I think things have started coming up because i understand that bitcoins is the only cryptocurrency that have the ability to influence other cryptocurrency in the market.

See! The chart of yesterday is clear indication that buyers are heavy around 30k levels. The price of bitcoin went to around 31000 yesterday, but the buyers got activated in that level, and pushed the coin to its earlier level of 34k, and now a further push has moved it back to 36k levels. I think the buyers will start dominating the market soon.

 

[Sotherefore]

Nah! I don't see bitcoin breaking 30,000. Though there are some chances too and I am not denying that. Actually the price of bitcoin is stuck in a loop. The buyers are sitting near 30,000-32, 000 where as sellers are in 37500-40, 000 range. Whenever it tries to go beyond this levels, the buyers and sellers activates to push the price again back to the loop. That's the story of last of couple of sessions.

okay I just pray that the price will not drop below that point because this is seriously shrinkging my portfolio,I think things have started coming up because i understand that bitcoins is the only cryptocurrency that have the ability to influence other cryptocurrency in the market.

 

[Razor1911]

Even at this time the price of bitcoins is seriously going down,a lot of experts are predicting that the price of bitcoins will go back to 30,000 dollars but even with this I don't know how to do it because I cannot personally predict the volatile markets, I'm just observing to see how it goes.

Nah! I don't see bitcoin breaking 30,000. Though there are some chances too and I am not denying that. Actually the price of bitcoin is stuck in a loop. The buyers are sitting near 30,000-32, 000 where as sellers are in 37500-40, 000 range. Whenever it tries to go beyond this levels, the buyers and sellers activates to push the price again back to the loop. That's the story of last of couple of sessions.

 

[Wisdom01]

That is good for you. But I was too worried about the fall. Actually not about the fall, I was shocked to see the intensity at which the market was falling. No support level was able to hold bitcoin. Support levels were breaking like glass plates. But somehow near 30000 level the price stabilized. Now trading near it's resistance 40000.

That is why it's best for you to set your stop loss , so that when it breaks the support level you will withdraw it very fast and would have measured your loss and also know the next grade to make and try to do

 

[Sotherefore]

That is good for you. But I was too worried about the fall. Actually not about the fall, I was shocked to see the intensity at which the market was falling. No support level was able to hold bitcoin. Support levels were breaking like glass plates. But somehow near 30000 level the price stabilized. Now trading near it's resistance 40000.

Even at this time the price of bitcoins is seriously going down,a lot of experts are predicting that the price of bitcoins will go back to 30,000 dollars but even with this I don't know how to do it because I cannot personally predict the volatile markets, I'm just observing to see how it goes.

 

[Razor1911]

seriously I was there when it all started and I did not bother about anything because I know it is just a normal market correction although if I have known it earlier I could have converted all my cryptocurrency to stable coin, but since the dip has got me up with all my cryptocurrency I didn't panic.

That is good for you. But I was too worried about the fall. Actually not about the fall, I was shocked to see the intensity at which the market was falling. No support level was able to hold bitcoin. Support levels were breaking like glass plates. But somehow near 30000 level the price stabilized. Now trading near it's resistance 40000.

 

[arunima25]

The recent fall have given the vibes of such happenings. The whole crypto market lost the half of the market cap within just few trading sessions. Thus Investors come into panic mode and started winding off their position. I do agree with you that such steep fall occurs not only in forex but other markers too. And a complete fall of the market is highly unlikely.

A complete fall of the market is highly unlikely especially when it has been there for so long and so many investors and people are involved. It seems the ban of Bitcoins by China has an underlying plan. Many feel that China might have plans to launch a currency of It's own. Well, that's a speculation and only time will tell. Maybe this dip will continue for longer than expected and slowly the market will pick up again. It happens with any volatile market.

 

[Sotherefore]

And even after such a collapse, look at the current position. It is going up and up now. Thr sudden down move is a temporary one and I think we might see another spike soon. The patience is required very much for that. You should invest in such cryptos for long term and for that you should keep patience. Otherwise you will exit your position well before the perfect time.

seriously I was there when it all started and I did not bother about anything because I know it is just a normal market correction although if I have known it earlier I could have converted all my cryptocurrency to stable coin, but since the dip has got me up with all my cryptocurrency I didn't panic.

 

[Razor1911]

The crypto market was always a volatile market. And it has seen various dips earlier too and then there was a bounce back and the same coin soared high in sky and people made a huge profit. The current dip is really dip and perhaps the most prolonged one. It has been more than a month but still no improvement or sign of improvement. So such concerns are about to rise. But a total collapse of the whole market seems a bit of hype. It's too early to conclude.

The recent fall have given the vibes of such happenings. The whole crypto market lost the half of the market cap within just few trading sessions. Thus Investors come into panic mode and started winding off their position. I do agree with you that such steep fall occurs not only in forex but other markers too. And a complete fall of the market is highly unlikely.