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Why is Bitcoin Dropping?

For the reason Crypto currency is vary high-risk to place money on.


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Today (so far) Bitcoin has lost 14.21% its down 25.26%

 
I believe I know why: The financial markets are in a panic right now. The markets are in a panic primarily in that they are over-bought and there is a predicted possible 25% to 50% chance of recession in the next 6 months --that is why. Investors are shared-shit.

The ^VIX is at 47.74 (delayed) is was ~54 pre-market NYSE/NASDAQ it was under 13 last week. During the Pandemic crash May, 2020 the VIX was similar. The ^VIX is seen as the *fear index* of the markets
We are is scared-shit territory ...
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BTC Has recovered a bit money in in flight or Money in Motion
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....
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Can you count on the cash hidden under your mattress or some deposit certificate from a Bank or Commodity storage?

Most likely this will pass --it always has. However, this really hurts consumer confidence and other spending that is not really necessary for most people.
 
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