Is it All Over for Bitcoin?
With yesterday's cliff dive of more than 10%, Bitcoin traders have been met with the biggest drop over a 24h period since March 12th. While eyebrows are being raised the reasons for the crash are still being discussed.
While the crypto navigates dangerously in the frontier of the $10k level, specialists state that the recovery will not take as long as the previous bumps, where the "sell-off" is moved around quickly through the "Buy the Dip" mentality.
According to both Matthew Dibb, COO of the provider Stack, and analyst Edward Morra, the bounce back will not happen as quickly as it has previously. Sharp losses for both the US Dollar and stocks have the potential are said to be correlated and can push BTC down even further and prevent a V-shaped recovery back to $12,000.