Bitcoin (BTC) crashed this morning, trading close to $ 31,000. Panic hit the crypto market again and all crypto currencies posted massive losses that even reached 50%.
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Later, the majority had important recoveries; BTC, for example, grew 10% after bottoming out.
The Reuters agency issued a report stating that China prohibits crypto currency operations for financial institutions and payment companies, something that has been in force in the country for a long time. However, raising the issue moved the foundations of the market in the middle of a fragile period after the Elon Musk phenomenon, and prices tumbled.
Social networks were filled with terror, euphoria and theories, and the referents of the ecosystem did not take long to give their opinion on what was happening.
MicroStrategy CEO Michael Saylor remarked his unconditional support for BTC and wrote a phrase from the philosopher Friedrich Nietzsche on Twitter: ” Whoever has a ‘why’ to live, can face any ‘how’ . ” In addition, he clarified that he did not sell his crypto currencies or that of his company.
The entities I control have acquired 111,000 BTC and I have not sold a single satoshi. Bitcoin forever.
On the other hand, the star commentator of the ecosystem, Anthony Pompliano, put cold cloths on the fall of BTC and altcoins, and explained that it is a typical process of the market. Faced with a massive influx of new investors in recent months, the specialist suggested that it is a kind of welcome from the leading crypto currency.
“Every bull market has to indoctrinate the new class of crypto enthusiasts. Volatility is the name of the game, “said” Pomp “on Twitter. He added: “Bitcoin bull markets are very volatile. In 2017, there were two separate 40% reductions during the year. They are never funny, but this is normal for historical comparison. ”
Finally, when asked by a follower about his projections in the short and medium term, Pompliano said: “No one can predict the future, but I highly doubt that we have already reached the all-time high this year