Well-known investor and researcher of the stock market Willy-Woo sees similarities between this correction and the Bitcoin bear market of 2014. We will remind, then the main cryptocurrency has lost almost 90 percent of its value and got into a protracted sideways movement for a few years.
According to Wu, over the years, the structure of the stock market changed dramatically, so count on a repeat of the events of 2014 should not. This writes NewsBTC.
When will the fall of Bitcoin
In 2014, the cryptocurrency has suffered from the most severe correction in its history. Then the price of Bitcoin dropped to $ 200 and continued to trade at this level for another couple of years. Based on these data, some experts believe that Bitcoin will not be able to recover quickly by the end of 2018. Perhaps there will be even a few years of silence.
Wu tried to refute this point of view. The analyst noted that the decline in 2014 was due to the collapse of the largest at that time the crypto currency exchange Mt.Gox. Now trading bitcoin is more decentralized, because none of the exchange already handles more than 50 percent of the daily trading volume.
In 2018, many institutional investors and funds have turned their attention to Bitcoin. Cryptocurrency is now more positive fundamental factors, than ever. Furthermore, large companies like Coinbase and Gemini all forces are developing new means to attract large investors.
Take a look at the situation from the other side. Let me remind you that in 2014-2015 the stock market was recovering after the fall of Mt.Gox. Then this exchange the main trading platform for Bitcoins — 90 percent of all trading took place through it. Besides, at the time, stole approximately 1/8 of the total number of bitcoins. Now the cryptocurrency market is more stable than before.
Digital assets can be the most popular investment of the future, so even the largest network of US exchanges preparing to open trades futures on Bitcoin. With the approval of the exchange triptofana in the SEC this event will prepare a good platform for the next bullrun.
SUBSCRIBE TO OUR CHANNEL IN THE TELEGRAM. WAITING BITCOIN FOR A MILLION.