Cryptocurrency – Not Just Physical Assets Require Recovery in Investigations
After quite promising growth, which has been demonstrated by bitcoin, the pressure on the cryptocurrency market, apparently, is falling again. «bears». Investors in search of the reasons for what is happening «tried on» there are a variety of options for the situation, but one of the main ones was the explanation of the current situation from the standpoint of the negative reaction to Gemini’s refusal from the SEC.
However, despite the really negative reaction of the market to what is happening, it is impossible not to note its rapid recovery. Accordingly, the refusal has become only one of the components of the general provision..
Other analysts are inclined to believe that a new wave of Bitcoin correction — nothing more than another correction, which is a necessary element that complements the previous growth. If you pay attention to the chart, you can see a decrease in price fluctuations: the largest wave emerged after the pump at the end of 2017, followed by another one related to the ban on advertising of cryptocurrencies and ICOs..
After that, the crypto community saw the results of the work of regulators in different countries, but the current wave is probably nothing more than a consequence of users’ attempts to fix profits after the long-awaited growth. The logical development of events will be another departure to the minimums, followed by recovery..
Strong fall not expected yet — investors await the CBOE decision on Bitcoin ETF, which will be released on August 10. Seeing growth prospects, most will not sell their coins..
Earlier we wrote about why Vitalik Buterin says that you shouldn’t get hung up on crypto ETFs.
text: Evgeniya Likhodey, photo: Bloomberg, chart: Investing