Bitcoin was meant to be a store of value and a safe heaven to all who wanted to be out of the regular or traditional financial institutions, but lately the Satoshi dreams are not anymore safe with the increase of dubious money into crypto that causes it to plumb down when crisis time Hit the market.
It's easy to note that the crypto prices leaded by BTC are going down and the world markets are Red and not showing fast recovery! But why that's happening?!
Well, for me it's easy to understand if we follow the History of BTC as it was meant to be a particular Bank to everyone who wanted to be emancipated from the traditional ways of money but this intentions and revolution are threatened by the whales who secure huge sums of BTC (and no one knows for sure who are they) and can break the whole market with just one transaction! This whales can also use their power to manipulate the market!
In this time of pandemic disease, BTC was the best solution to combat it and being used as store of money but its not what we really want! Its going in the wrong direction as the people who put in their money are easy to panicked and start selling all their assets to get prepared to the imminent global disease. This massive sell orders are putting the all market on red not only the crypto but even the traditional markets!
So BTC isn't safe heaven?!
Well, I believe that BTC will come back in full power as the COVID-19 develops. Easy to understand that for the imminence of a global pandemic disease the paper notes will not be more safe and the digital payments will be hugely favourable and In Top Of them the cryptocurrencies will be widely used!
Something to be aware and note!
With this latest news and huge decrease in Crypto price specially the BTC, I particularly noted that the adoption is effective as if was doubt about how many people use crypto, this pandemic disease showed the crypto world that there's more people with assets in crypto, I believe that is the most important thing to note as positive, the price dropped okay, but its certain that is just matter of time to start going back again to the desirable highs!
One thing also that worries me it's a Huge crypto in the institutional Hands and that can also be negative to the development in price as when they panic they can push that sell button only to get back what they invested in the asset! Well, it's only business...