Cryptocurrency Crash! Time To Buy or Sell Your Cryptocurrency NOW? | MASSIVE Crypto News

Cryptocurrency Crash! Is it time to buy or sell your cryptocurrency NOW? We have some massive news to go over in today’s video! Enjoy!

There are hundreds of bad coins out there in the market, but there are a few coins out there are worth taking the risk and holding on to them for the long run, such as Ethereum, Cardano or Polygon Matic and Bitcoin. So be sure to watch the video “Cryptocurrency Crash! Time To Buy or Sell Your Cryptocurrency NOW? | MASSIVE Crypto News” to find out if its time to buy or sell your cryptocurrency? as we have some massive crypto news to go over!

So we have Bitcoin down 16 percent within the last week currently below and dropping to 32 thousand dollars, and ethereum down 21 percent in the past week roughly around that 2,000 dollar mark. Overall we are seeing a nice sell off happening over the past week. And nearly 200 billion dollars was wiped from the cryptocurrency market, adding to the 200 billion that was already lossed over the last 7 days.

And one of the reasons of why I think people are worried tight now is that there are a lot of investors concerned about the impending ‘death cross,’ which may signify a transition from a bullish to bearish price trend, but if we zoom out on the chart we can see that Bitcoin is still up over 13% year-to-date.

Now, for those of you that don’t know, A death-cross occurs when the 50-day moving average crosses below the 200-day moving average.

Now, a lof of FUD, fear, uncertainty and doubt has come from Regulatory uncertainties and environmental concerns have weighed heavily on Bitcoin.

China’s biggest crypto mining centers got an inspection notice on Thursday that forced them to stop mining operations.

On Friday, Wu Blockhcain revealed that Alibaba Cloud, China’s largest cloud service provider, contacted cryptocurrency and mining firms registered in China about the possibility of domain name cancellation due to legal restrictions.

The Chinese government is cracking down on bitcoin mining.
Concerns that China would continue to tighten down on bitcoin mining may have fueled the recent losses.

The prohibition has already been extended to the province of Sichuan, where officials last week ordered the closure of 26 mines.

According to the Communist Party-backed publication Global Times, the current restriction implies that more than 90% of China’s Bitcoin mining power (which accounts for 75% of global capacity) is expected to be offline.

In the long run, this might be beneficial to bitcoin, given the bulk of bitcoin mining in China used non-renewable energy sources like coal. Miners are expected to relocate to nations and regions that promote sustainable energy. And we have known for a little while now that Miami wants to be the bitcoin center of the world and has been trying to attract china bitcoin miners to the city.

Institutional demand is increasing as MicroStrategy announced Monday that it now owns more than 100,000 bitcoins after spending $489 million for 13,005 coins in a new buy round, and The average purchase price of MicroStrategy’s 105,085 bitcoins is $26,080 per, including fees and other expenditures, according to the company. As of Monday, the company’s holdings were valued more than $3 billion.

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Cryptocurrency Crash! Time To Buy or Sell Your Cryptocurrency NOW? | MASSIVE Crypto News

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