Bitcoin begins selling off at 10PM EST September 19th before 3 year crash anniversary. September 20th marks the final stages of an 80% sell off from highs in 2017-2018.
Crypto markets pull back over 10% from weekly highs Sunday night carrying into Monday morning. September 20th, 2021, marks the 3rd anniversary of the “cryptocurrency crash” of 2017-2018. What happened in 2018s’ spiral that left crypto markets down 80% from highs?
Markets reached an all time high December 17th, 2017 with Bitcoin touching $19783. Five days after market tops, BTC drops 45% from it peak. The 600B Crypto markets panics; sell offs continue, FUD spreads. January 12th, 2018, news looms of S. Korea’s potential cryptocurrency ban; Bitcoin falls 12% on the news. S. Korea bans anonymous trading not banning Crypto completely. Advertising bans followed by Facebook, Google, and Twitter, for crypto ICO’s and tokens. Investors sell off dropping Bitcoin market cap to under 100B in 2018 at a price of $5,500. September 20th being marked as the end of Bitcoins 2nd greatest crash in history.
The end felt like it was never in site. Cryptocurrency is dead believed to be unable to recover. Cryptocurrency ended up recovering before reaching new highs. Short term market movements remind our team of similar current events. S. Korea announcing 70 exchanges to potentially suspend service recently. The country previously stated they never intend to ban cryptocurrencies in July this year. The suspension looks more like buying time for regulatory framework to be established, protecting investors. Investors feel manipulated as news plummeted market values while worried about maintaining control of their own property.
It’s important to not get caught on an exchange. Large market sell offs cause huge loads of traffic for exchanges. More times than not during large crashes most exchanges go offline. Storing crypto offline on the blockchain with a hardware wallet gives investors full control. Hold your crypto in your own wallet and move it to a functional exchange to sell when you please. Exchanges will be unable to prevent you from sending/receiving your crypto bringing control back to you. Our team strongly suggests checking our post on the Top 3 Hardware Wallets Ranked, September 2021 for doing this.
Headlines prove to be background noise in a blooming crypto ecosystem. Stay up to date on headlines and informed. Investors are to be reminded to zoom out the charts. Remind yourself of the tech blockchain truly has to offer. No markets can exist without growing pains and corrections. Crypto is here to stay. DCA, invest wisely, utilize your resources. This drop shows nothing other than a buying opportunity as policies get set in place. Investors will have to continue to cry into our Bitcoin pillows, while we wait for the next bull run up.
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The Crypto News Wrap is a daily updating article grouping the biggest news in blockchain into one place. Come back daily to stay up to date and ahead of the markets. September 24th, 2021 China bans BTC for 7th time, warns local governments of Evergrande potential failure. Fantom network releases commison free NFT marketplace. Evergrande […]
The Crypto News Wrap is a daily updating article grouping the biggest news in blockchain into one place. Come back daily to stay up to date and ahead of the markets. Our wraps update throughout the day, come back often. September 23rd, 2021 Twitter deploys NFT authentication services as well as bitcoin tipping on IOS […]
The Crypto News Wrap is a daily updating article grouping the biggest news in blockchain into one place. Come back daily to stay up to date and ahead of the markets. Our wraps update throughout the day, so come back often! Our team has a daily goal of bringing you the biggest news in crypto. […]