While crypto investing produces billionaires every year, there's no guarantee that what's made will stay forever. When $1 trillion was wiped out of the crypto market in May, billionaires were affected at various levels, but the most affected are listed in this article.
The outbreak of COVID-19 has led to a significant decline in economic growth. The recent economic challenge is associated with inflation that was triggered by governments printing more money to offset the negative impacts of the pandemic. Probably, this is the reason for such striking interest in the crypto market as it is inflation-friendly.
The price of Bitcoin is usually influenced by a confluence of factors. Sometimes, even a personal opinion can have serious impacts on prices and make them crash or skyrocket. If a person is important enough.
After the recent crash on September 3, Bitcoin has been fluctuating above the psychological support level of $10,000. The bears failed to break the current support convincingly on September 3 and 5 as price corrected upward.
Buyers have been overwhelmed by bears as they couldn’t move up after the attempt to revisit the $227 resistance. After it fell from the $227 resistance, the bulls made other attempts at the resistance but were resisted at $220.
Expectations are growing that Bitcoin (BTC) will increase further thanks to the halving that is approaching in less than two weeks. The current situation is convincing that the halving has a positive effect on the market.