Why has the price of cryptocurrency been falling continuously (Why is the price of cryptocurrency unable to rise)?

Why has the price of cryptocurrency been falling continuously? According to Bitcoin news, the price of Bitcoin has already dropped by around 60% in January 2018.

However, after the Bitcoin halving on May 12th this year, it started to rise. But since then, it has not continued to rise. But in November, its price increased by more than 50%! Many people believe this is the so-called “bear market”.

So why is this happening? It’s because people always think that the bull market is still there, so many friends refer to it as a “bear market” and follow suit to buy. But in reality, this is not a simple reason, the entire market is rising.

Therefore, if everyone truly believes that we are in an era where we can understand the development of blockchain, or just wants to know what new application scenarios and projects will emerge in the future?

I suggest that everyone should not be too concerned about what can bring wealth or create new models. Because current digital currencies still cannot solve practical problems well, let alone some basic applications such as the launch of Libra by Facebook, which has not even seen real use cases or innovative products – such as using cryptocurrency as a payment method in stock trading. These are all solutions that cannot be implemented and feasible. Of course, for ordinary people, they can only discover value through technical analysis.

Furthermore, due to the cold attitude of mainstream financial institutions towards digital assets, many people do not know how to invest and can only rely on their own efforts to learn and accept various new concepts in this emerging industry.

On the other hand, as digital currency becomes more popular and the number of global users continues to increase, this trend will accelerate.

Unless there are more regulatory measures, it will be difficult for Bitcoin to replace major commodities such as gold and silver. So the price of Bitcoin will not disappear in a flash. As long as there are policies and regulations, Bitcoin will be viewed as an effective store of value, attracting more investors.

Why is the price of cryptocurrency unable to rise?

According to coincryptorama news, Bitcoin has been in a sideways trend since the second half of 2017 until June this year when it finally broke through $10,000. But so far, the price has not seen much improvement.

In late 2016, an investor named JamesWo posted a video online claiming to hold 100 BTC (now worth over $100,000). He then shifted his focus to the price trend of Bitcoin and believed that the recent price increases did not necessarily mean that Bitcoin would rise as it did before.