Bitcoin is only going down in value

“Bitcoin Is in the Dumps, Spreading Gloom Over Crypto World”

           The price of crypto currencies and more specifically to the price of Bitcoin and what it appears right now. Depending on where you look the consensus at the moment at least is that the market is not doing well because of the Bitcoin cash civil war as it is being called. First of all Bitcoin cash already has a somewhat negative view by the people in the cryptocurrency space because of what it stands for and now the fact that there is another form of it. This does not bond well with the market at large. So currently the most digestible explanation suggests that the current sell-off was kicked off by a combination of six thousand dollars representing a stop loss trigger as well as the current Bitcoin cash hard from exerting pressure on an already Bitcoin price. Todau sharp correction took Bitcoin to a twelve month low and the market cap has already dropped below one hundred billion dollars for the first time since November 2017.

            Bitcoin was sitting around sixty four hundred dollars or something like that. I came up with the exact number, and the problem is or the problem was that the idea was that six thousand dollars was the bottom like Bitcoin would not go below six thousand dollars and this is why I always say no one can ever tell you exactly what cryptocurrency market is going to go because we have so many factors and one of the factors that wasn’t factored was the Bitcoin cash. Bitcoin cash hard fork scenario that we have right now and so the easiest way to kind of explain this is that I know people who invest in cryptocurrencies. I know people who invest in stuff in general, I can’t even give you the proper wording as to everything that they kind of invest in. One of the major problems that a lot of major investors are having right now when it comes to Bitcoin specifically is the name. I mean the name simply because everyone and their cousin and mother think that they can fork a Bitcoin, and right now is that we have Bitcoin diamond, Bitcoin platinum, Bitcoin shoe, Bitcoin sock and honestly no one cares about these other forks but people do care in some capacity about Bitcoin cash. Bitcoin cash is in the top ten coins and is now in the process of having a hard fork which is going to create even more Bitcoin cash quote-on quote and therefore creating more Bitcoin. It is taking away from the magic that Bitcoin has.

            When I talked to larger investors I listen the main thing that was happening especially two years ago was that Bitcoin was magical because there are twenty one million and there can never be anymore and this is why the price of Bitcoin dropped.