“Bitcoin, You OK, Buddy?”
Benzinga | May 21, 2021
Bitcoin’s recent experience is the worst in its history, with one of the many possible reasons for its dismal performance being China’s regulations. In this article, Prabaldeep Paul highlights the volatility of crypto markets and the optimism surrounding cryptocurrencies.
Extract from the article: “The key triggers of the crypto market’s sharp correction are the recent warnings from Chinese regulators, the caution and increased scrutiny signaled in the SEC’s recent announcement on Bitcoin futures, and Elon Musk’s U-turn on Bitcoin acceptance. While these are the triggers, crypto markets are highly volatile: sharp corrections, sometimes by about 80%, have followed all bull runs, as we saw in 2013 and 2017…
…However, the silver lining for Bitcoin and Ethereum is that they have rebounded much stronger after every fall, as markets have shifted from highly speculative, non-functioning tokens to the proven, functioning chains of the two cryptocurrencies.”