“Bitcoin Crash” is a trending search term and its reason

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“Bitcoin Crash” is a trending search term and its reason
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Bitcoin, the biggest and oldest Cryptocurrency journey is full of ups and downs. He has faced falls more than 450 times since his advent. But, as always, he manages to come back up and grab the high position. BTC is proving to be a competent token with great potential. If you want to learn more about Bitcoin mining, here.

Everyone seems to be searching for the term “Bitcoin Crash” lately. The previous year, the aspect of Crypto became very popular. And we can also notice the growth of this industry during this period.

Current status of the crypto market

Despite the growing trend in the crypto industry, we cannot ignore the falling rates of this market. As the major coins move towards the downtrend, the crypto market is falling at a slow pace. You can learn more about this condition from various reports.

A recent report from Bloomberg shows that most short-term traders are withdrawing their Crypto investments. Also, a more shocking fact is that long-term traders are also leaving this market.

BTC is facing a recent crash where its rates drop as low as $17,000. This is the lowest rate for the token in the past two years. This fact creates a sense of uncertainty among all investors.

The trend of assuming “BTC is dead” is around the corner again. It is the fact that Google Trends data is reflected. This fall may seem to be part of the journey of all cryptocurrencies. But the overall state of the crypto market is very deplorable. The performance of this coin could drop further in the future. With a major Crypto like BTC, the entire market could face a heavy downfall. Here, other successful coins could go through a similar crisis.

Triggers for the recent BTC crash

The state of Bitcoin is deteriorating every day. You can notice its fall which is 70% from its all-time high in November. This major slump began in March of this year with the Fed’s approval of rate hikes after three long years. This turns out to be a major factor in the downfall of a powerful digital asset like Bitcoin.

Apart from this, some factors are also responsible for the latest BTC crash. Some other main factors responsible for this crash are the Russian-Ukrainian war, the crash of Terra, and others. Rob Schmitt, who is a chief operating authority at infrastructure providers, says several factors are responsible for this crash.

He adds that combinations of macro variables like higher interest rates as well as geopolitical disruptions are triggering the market’s lament. Moreover, the crash of Terra as well as the insolvency of Celsius is another main force behind the high amount of Bitcoin liquidation.

Other experts assume that the collapse of LUNA is pushing BTC towards a crash.

Can cryptocurrency survive?

Whenever Bitcoin was considered dead in the past, it has shown its comeback. In this way, it maintains its position as one of the most powerful digital assets.

Many measures foresee that BTC will recover from the current state. A major metric is 200-WMA which makes such a prediction. It is one of the most widely used metrics that acts as an indicator of the Bitcoin price. We can soon hope for an upward trend in Bitcoin according to this metric.

Conclusion

If we look at the history of Bitcoin, we can find out that this token can take months or a year to get back to its good position. Although its price is currently the lowest, we cannot ignore the fact that it is rather well placed.

Experts believe that even if the BTC rate is currently low, it does not mean that it will be so for a long time. In the long term, we will notice that its adoption and use will not be impacted for a long time. Its growth will continue one way or another. All in all, it won’t be long before BTC regains its previous position of being the most widely used and influential cryptocurrency.

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