• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
Bitcoinist.com
No Result
View All Result
Bitcoin's Correction Continues - Is the Floor in Sight?
Nexo

Bitcoin’s Correction Continues – Is the Floor in Sight?

JakeTheCryptoKing by JakeTheCryptoKing
4 years ago
in Bitcoin, Bitcoin Price, Markets and Prices, News, News teaser
0
Advertisement

It seems like every month there is a new regulatory issue impacting Bitcoin in a negative manner. This month, not surprisingly, has seen multiple events that are being portrayed in a negative light, forcing the price of BTC lower.


Bitcoin Price Analysis

 Bitcoin prices across exchanges have fallen more than 25 percent over the past month. Monday at 9 a.m. BTC was as low as $6705. The price of Bitcoin remains as volatile as ever having fallen more than 6 percent during a two-hour period Monday morning. There are many catalysts allegedly causing this continued Bitcoin price correction. The main culprit is likely the “time of the year” being U.S. tax season.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Bitcoin Price Analysis

Tax season in the U.S. has been called the culprit for this week’s sell-off. The head of research at Fundstrat Global Advisors stated that U.S. households likely owe over $25 billion in capital gains taxes from cryptocurrency holdings. With tax laws finally being implemented allowing BTC and crypto traders to pay their capital gains this week has witnessed a frenzied selling. The U.S. tax deadline is April 17 which has resulted in fairly intense selling pressure over the past few days.

Bitcoin has fallen more than 70 percent since its all-time high of just under $20,000 in mid-December of last year. Since this period of crypto euphoria, the entire crypto market has corrected from a total market cap approaching $900 billion to one just over $250 billion. There have been multiple catalysts that have cemented BTC’s fall over the past few weeks. This has resulted in a bear market. However, it is when market sentiment is highest that the bears take over, and when market sentiment is at its lowest that is when the bulls start running.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Bitcoin Price Analysis

Brighter Days on the Horizon?

Positive market catalysts are on the horizon with ETF’s likely to get approval to place large amounts of institutional money into the markets. However, this approval will likely come when governments around the world stop spreading FUD. The Reserve Bank of India announced last week that regulated financial institutions (banks) can no longer legally deal with cryptocurrencies. Crypto was originally created to disrupt centralized banking and government control over currency. It seems the governments and the big banks of the world are starting to be disrupted. This ‘disruption’ can either be adopted and taxed or the alternative approach is an outright ban.

What is the best crypto casino in July 2022? Read our comprehensive comparison! We made deposits, played and reviewed 80+ crypto casinos to choose the best one.

Since the quarter four euphoria BTC and the overall crypto markets have been in a bear trend, having corrected from over $900 billion to just over $250 billion. With market sentiment dwindling it seems like nothing can slow BTC’s fall. However, when the entire crypto community expected the crypto markets to continue their run the bull markets turned bear. This bear trend has led to a four-month correction and a perfect entry point for individuals looking to exploit a market with real world use in the infancy of its adoption. The remaining months in 2018 will likely provide the government regulations that actually jump start the crypto markets by pumping in billions of dollars of institutional money while rooting out the remaining scams.

The remaining months of 2018 will likely provide ETFs the ability to enter the markets which provides investment groups unique avenues to enter in a space marred by volatility. Traders dream of the volatility BTC and the overall crypto markets demonstrate implementing advanced trading techniques which are just beginning to be used on crypto exchanges. With institutional money being on the cusp of entering the space and many regulatory bodies supporting, not banning crypto; it seems this correction is short lived and a major market rebound is just around the corner.

To read the King’s prior articles, to find out which ICOs he currently recommends, or to get in contact directly with the King, you can on Twitter (@JbtheCryptoKing) or Reddit (ICO updates and Daily Reports).

Do you agree with the King’s assessment of the Bitcoin market? Tell us your thoughts in the comments below.


Images courtesy of Shutterstock, DepositPhotos, CoinMarketCap

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
JakeTheCryptoKing

JakeTheCryptoKing

Related Posts

Bitcoin Crypto

Crypto Market Sees $510M Futures Flush As Bitcoin Breaks $24.5k

8 hours ago
bitcoin family

“Bitcoin Family” Loses $1 Million In Bear Market, What’s Next For Them?

10 hours ago
Zipmex Opens Crypto Withdrawals After Pausing Due To Volatile Markets

Zipmex Opens Crypto Withdrawals After Pausing Due To Volatile Markets

11 hours ago
Bitcoin UK Based Football Club Oxford City Embraces Bitcoin As Payment For Match Tickets

Why $10 Trillion AUM BlackRock Launched Spot Bitcoin Private Trust For Clients

13 hours ago
Crypto

Crypto Obsessed: Nigeria Tops Google Trends Search For Cryptocurrency Info

16 hours ago
Vinteum logo

Vinteum Will Train And Sponsor Bitcoin Developers In Brazil And Latin America

22 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.