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Panic floods the Bitcoin Market

3 min reading

Current Bitcoin price is about 7 900 USD. Over the last 24 hours, Bitcoin's price has decreased by 0,44%. The panic on cryptocurrency market is raising, as critics are attacking Bitcoin.

panic on cryptocurrency market

Bitcoin chart situation

Yesterday's session on Bitcoin was opened at the level of 8 111 USD, and closed at nearly 7 923 USD. The "king of cryptocurrencies" has lost more than 187 USD, so Bitcoin's price decreased more than 2,3%.

Will Bitcoin come back to its favors? Most of cryptocurrency market users panicked. The fear level on cryptocurrency market fell on another level. Currently the fear level on crypto market is at the level of 16 points which means users are in extreme fear.

bitcoins fear level

Community attacks Bitcoin

Current situation on cryptocurrency market made some of crtitics happy. For example, a well-known economist and gold lover - Peter Schiff quickly took that opportunity to attack the assets, mainly Bitcoin. He emphasized, that changes currently happening on market are nothing new to him. Moreover, he added, that he repeatedly warned, that Bitcoin's failure in the best financial circumstances will equal a disaster. 

During the last few days, Bitcoin's price has decreased by 15%. Some of investors think, that it has a close correlation with traditional financial market crash. Dr. Doom has said, that Bitcoin is not a proper support during current crisis. He attacked Bitcoin in his tweet, where he did not save any words.

Panic, and panic all over again

A strict correction on cryptocurrency market was made by the panicking community. Although, But remember: buy, when the market is bleeding.

bleeding on market btcSome of investors started to sell their assets in panic, not to lose even more. However, pay attention to such moves, which are not really reasonable, and Bitcoin has suprised us many times in the past. It is worth preparing properly for such situations, and staying calm with investing strategy of your choice.

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