5 Past Bitcoin Price Crashes:- The 2011 Onslaught
- The 2013 Price Debacle
- The 2014 China "Ban"
- September 2017 Caused a Near 50% Drop
- The Quick Decline in December 2017
a currency that goes from $ 1000 to $ 19,000 in just one year and then in the next year it drops from $ 19,000 to $ 3500, it makes a lot of people afraid of that currency, but that also makes a lot of sense.
I will give an example of the altcoins. the altcoins have their community. there are things that are very strange in this market. let's take the example:
We have an altcoin that has a price of $1 and 3 months later Dev comes to announce launch of Mainnet for day X. the price of altcoin begins to rise in a very frightening, but weeks after the release of Mainnet the price began to fall in a frightening way and even falling to the price of $ 1. That's exactly what happened to bitcoin.
people started buying bitcoin because they wanted free coins ( bitcoin cash hard fork) and a month later people started buying a lot because of the Cboe Bitcoin Futures Launch. but people did not know how these Cboe Bitcoin Futures work in practice, I believe that the only thing that came into their heads was: "Institutional investors are coming and they are going to inject billions of dollars into the crypto market and so I should buy much bitcoins early"
The crypto market lives on illusions and false hopes.