Crash

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.

For the past 48 hours, Bitcoin is consolidating above $11,000 support after a sudden crash. On Sunday, August 2, buyers pushed BTC above $12,000 high.

Ethereum’s uptrend is intact despite the recent breakdown. After the recent crash, the price dropped to $225 low, and it rebounded twice to reach the $236 resistance.

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.

Amidst the chaos on the markets, stablecoins seems to have been least affected by the market crash. Analysts predict that over $7 Billion in investment funds will flow into the cryptocurrency market in the coming months.

Bitcoin has caught the attention of many business investors around the world. However, the number of inexperienced investors in digital currencies is even higher. With the recent crash of the crypto market, traders are facing awful consequences and harvesting huge losses, as Bitcoin lost nearly 80% of its all-time high value.

With all these staggering price dips, this year has obviously not been a huge success for crypto market investors. A prolonged bear market has caused many people to talk about a possible crisis and even a crypto crash. Many people fear a possible negative outcome but Tyler Cowen does not.