Why is Bitcoin Dropping?

[Agent39]

Why is Bitcoin Dropping?

 

[Graybeard]

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

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

 

[ogads]

no one knows why. if we did we could have seen it coming and sold.

 

[Graybeard]

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 ...

 

[Graybeard]

BTC Has recovered a bit money in in flight or Money in Motion

....

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.

 

[MyProxies]

This is market cycles. When you are in position whatever the direction, time is getting too long.
In reality Bitcoin is not dropping, he's living haha

 

[JoselynFinae]

I’ve been keeping an eye on Bitcoin too, and it’s been a bit of a rollercoaster lately. From what I’ve read and experienced, there are a few factors that could be driving the drop—like changes in market sentiment, global economic news, or regulatory updates.

 

[Graybeard]

oversold, ETF's cashing out positions, consumers spending their profits ... lots of things ...