I have seen a lot of articles on different platforms over the last 24 hours discussing the dump and what is going to happen next and the reasoning has been bizarre.

Here are just a few examples. 

1. The government are printing billions of paper money and will but Crypto at cheap

2. COVID-19 is madmade and aimed to kill the elderly 

3. The Cartel are back and orchestrating the dump

4. I've been charting this for dump and we are going to bounce back to $6,000 in a few days. 

5. Stocks were dumping and Bitcoin is now digitial Gold and seen as a safe haven (one week ago) 

Why Crypto?

I have said this before and I don't believe TA works in Crypto but basic fundamentals should be used to make you the right investment decision. 

What we need to understand in the crypto space is that we are still Immature and Volatile.

Everyone wishes they got into cryptocurrency in early 2017 and cashed out late 2017 at it's peak. They all want those huge gains but forget about the Volatility. 

It's Volatile because there is no regulation, where this is no regulation will result in shady characters who can manipulating the market, whales can make the price move double digits as 24h exchange volume is not a true indicator on the liquidity. 

I don't want to repeat other people work who have summed it up better than me so please check this article for more detail. 

What's going to happen next?

This is the $1,000,000 question.

Sometimes we forget that when an event occurs in a single country it will have a ripple effect. There is no country which can survive independently on it's own, there will always be some economic or social ties which other countries. 

So what then about a global epidemic as COVID-19 aka friendly name Coronavirus which is impacting more than half the world countries?

The situation is not getting any better and will probably get worse over the next few weeks, other country will start implementing further control like Italy - complete lockdown. 

This will have a significant economic impact and could lead to a recession. We have seen traditional stock markets dropping double digits too which is pretty stable then what do you expect for Crypto.

What happens when you throw Petrol on a flame lit fire? Well that's what is happening to Crypto right now and just because Bitcoin havening is soon external factors are alot more powerful right now and I think we will continue to slid down further in the next couple of weeks. 

I would suggest to start thinking about your short term and long term strategy, don't risk more than your willing to lose.