Hello to my friends who love life and keep smiling despite all kinds of negativity. In this article, I will tell you about the reasons for the crash in Bitcoin last Sunday.
On Sunday, April 18, Bitcoin fell by $ 10,000. We will examine the reasons for this decline ...
Let's start…
Why - 1; Power outage in China
Source by glassnode
Source by coin.dance
Due to the power outage in China, it has a negative effect on the Bitcoin hash rate. It was built for safety purposes to save 21 miners from underground in a coal mine. According to the Cambridge BECI, the Xinjiang region is 25% of the global Btc / hash rate. It has been the biggest Btc / hash drop in the last four years.
For some reason, I thought of a movie I watched a few months ago. I recommend you to watch. The plot of the movie looks like this. The name of the movie; Blackhat
Why - 2; A Twitter post
There was a big crash in Bitcoin when a news came out about the US Treasury accusing several financial institutions of crypto money laundering. Bitcoin declined to $ 50,000. Other altcoins followed this move in Bitcoin. Made by an unknown twitter user named FXHedge. This news has not been confirmed. But it became one of the excuses for the decline.
The whales, who took advantage of this, made a shake.
My friends, everything may be different from what it seems. As you know, China is the world leader in bitcoin mining and is trying to steer mining. When Bitcoin was $ 2000-3000, it was not noticeable. But the coming of bitcoin to $ 60,000 has further strengthened China, which is stronger.
This is a situation that the west under the leadership of the United States of America does not want. It shows that the war in the current economic order has spread to the cryptocurrency markets.
In the coming time, we may start to feel negative situations against Chinese cryptocurrencies and mining.
The Chinese state's work on the digital yuan is terrifying the West.
We see and will see what human history has lived through for centuries, in periods of 5-10 years.
My advice to you; multi-faceted questioning of what you see;
What…?, How…?, Why…?
This article was a little different, but we cannot protect our investments without knowing them.
Buying when everyone is selling, Selling when everyone is buying ...
As I always said, listen to everyone, decide for yourself ...
I'm looking forward to your comments. Thanks to your comments, we can shape my next articles together. Let's stay in touch… Take care of yourself so that you and the people around you are happy…
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