Why Is Crypto Down Today
After seeing that the phrase “will crypto recover” was trending on Google along with a million other classics such as, crypto crash today, crypto crash 2021, why is the crypto market crashing etc… I decided to write this article.
The crypto market is gaining steam like never seen before.
There really isn’t any precedent in history that we can look at that closely resembles the movements we are seeing in the crypto market these days.
Sure the stock market has had its up and downs but nothing like this. This is something revolutionary and something that we don’t quite understand yet.
The price of crypto currencies is incredibly volatile. Some of them are certainly value based while others will get completely destroyed when the bubble inevitably pops.
But I will let you in on a little secret.
Nobody really knows why crypto crashes or why it crashed today. Nobody truly knows when or even if the bubble will pop.
It is pretty much just boils down to human behavior. Unless you are reading this after some major country banned Bitcoin, or some huge headline, then the reason is probably non existent.
That, for the most part, should answer your question as to why crypto is crashing, or why it crashed today.
But let’s look at a chart, shall we. It’s important for us to understand where we really are with crypto currency and Bitcoin.
Here is a chart of Bitcoin for all of time.
Do you see that tiny tick at the top?
That’s today’s “crash”.
Now obviously I can’t outright say that this crash is going to recover. I don’t like offering investment advice and it’s probably illegal. Or at least will be some day.
If you were looking at that chart and weren’t invested in it do you think that would be cause for concern?
That little dip?
Would you just expect this chart to go up indefinitely without any dips or crashes along the way?
If that’s what you would expect then I highly recommend you to pull all your money out of not only crypto, but everything else that you might be invested in.
This is not for you.
Let us look at Ethereum’s chart while we’re at it.
On Ethereum’s chart we can see the downtrend is a bit more sizable.
We have not seen a crash like this for a while. And you know what? We’ve never seen a rise like this either. It has dropped only around a week of progress as of writing this.
Basically, this post has been written to get people to calm down and to stop them from making a stupid decision that they will regret.
I can’t tell you whether Bitcoin or any crypto is going to crash.
I can’t tell you why it crashed, when it’s going to crash, or even if it’s crashed. I
don’t know. Nobody knows.
But if you pulled out of Ethereum anytime during the last major crash, then you lost and you probably lost big.
But if you had held on for just a little bit you would be seeing gains like none other.
As Warren Buffett always said about the stock market, it is a tool to transfer money from inpatient people to patient people.
Calm down. Take a breath. If you have money in an investment that you need now then you never should have had it there in the first place. But if you still do then I won’t offer advice on that. That is for you to decide.
This crash / dip will likely recover, and we will be at a new all time high again until this bulrush ends and a real crash comes. And I do hope for your own sake that you don’t make a stupid decision when that happens.
But who knows? Maybe it won’t come. Maybe Bitcoin will make it to a million dollars on this ride.