How is Bitcoin doing?--Bybit

  • Here is a list of the biggest crashes in Bitcoin history:

    1. 94% in June-November 2011 from $32 to $2 because of the MtGox hack.

    2. 36% in June 2012 from $7 to 4 because of the Linod hack.

    3. 79% in April 2013 from $266 to $54 because MtGox stopped trading.

    4. 49% in Feb 2014 because MtGox was gone.

    5. 40% in September 2017 from $5000 to $2972 because of the China ban.

    6. 48% in January 2018 because of the Korea FUD made it go from $19700 to $9500.

    As of press time, Bitcoin price is still a little over $3,800 but saw two sudden price drop yesterday, these drops are expected to continue as a retracement of the bull market from last week but should stop at around $3,200. This was expected, should not alarm traders anymore than necessary, and is a great occasion to profit using BTCUSD perpetual contracts such as the one Bybit offers.

    Another issue is security. The cryptography used in Bitcoin is military grade and the blockchain is believed to be secure. If there is a bad actor, they are found in the individual exchanges and users. There are ways to avoid being scammed. Only deal with reputable dealers.

    The biggest threat to Bitcoin perpetual contract is government regulation. However, regulators are somewhat powerless if they wanted to totally outlaw Bitcoin. They would literally have to outlaw the Internet to do so. Various state and federal regulators are beginning to give input on how to integrate Bitcoin technology with existing financial regulation.

    It is doing fantastically well. The blockchain has proven to be unbreakable (despite the best efforts of the FBI and NSA), and it keeps getting stronger by the day.  More and more people are adopting it. More and more shops are starting to use it. In short it is on the verge of going viral as it were and making global finance faster, cheaper, safer and more transparent.

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