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Last week we thought the Bitcoin might recover after the worst crash in its history. This Monday morning we came out cheated. The panic on the financial markets and therefore on the cryptomarket is becoming more and more apparent. I offer you an overview of the developments and let's look ahead to the coming week.

How is Bitcoin currently performing?

Over the weekend we saw Bitcoin and most other crypto coins moving horizontally. A big change was therefore in line with expectations. When the FED announced yesterday that it would cut interest rates and issue government bonds, many investors thought that confidence in Bitcoin would be restored after last week's deep crisis. This is in line with previous market movements. Meanwhile, however, it appears that the financial markets in America and Asia closed in a minor way and that the European stock exchanges are opening up negatively as well. The same goes for Bitcoin and the most crypto coins. We see red digits and significant losses, with some crypto coins even recording the loss in double digits.

Panic also strikes among analysts

Meanwhile, the panic is not limited to stock market prices. Analysts also seem to use special methods to prove them right, despite the fact that practice shows them wrong. The well-known online analyst Jacob Canfeld was attacked by a Twitterer with the alias 'King'. King showed that Canfeld regularly photoshopped his statistics. Canfeld admitted this and promised to get better, but it didn't take long before 'King' caught him again. King then proposed to Canfeld not to report him to the authorities if Canfeld ended his paid advice community. This was reason for Canfeld to threaten 'King' with attempted extortion. The quarrel escalated further and further and did not do the reputation of the crypto market any good.

Bitcoin bulls keep their heads cool

In addition to these panic reactions, especially under Bitcoin bulls, we see reactions that call for calm and statistics that indicate that Bitcoin can have such a volatile market. Analyst Alex Krüger is one example.

Now that the market has started the new week negatively again, there seems to be a next exciting week with unprecedented movements coming up.

It is crucial that Bitcoin reaches a level of support far above its current price. From then on, the bears can take over. Otherwise, there may be shocking price drops that make recovery seem further away.