bitcoin price will go up as only profitable miners remain data analyst
Approximately 4 weeks ago global equities markets were in distress as investors finally realized that the coronavirus was not just an illness restricted to China, but rather a global pandemic which could permanently damage economies across the globe.
Crypto markets were not shielded from the mayhem that led the S&P 500 and Dow to post some of the biggest losses since the 2008 global financial crisis and investors will recall that on March 13 Bitcoin (BTC) price dropped more than 50% in the span of 24-hours.
To date, the volatility and fear within financial markets remain and the future forecast for equities markets is still gloomy but some investors are at least beginning to feel that the absolute worst has passed.
As is customary in the crypto sector, when a catastrophic event occurs, analysts, traders, soothsayers, and crypto Twitter personalities peer through the dust and rubble in an attempt to piece together a clearer picture of ‘what happened’
.Bitcoin investors will recall that a cascading waterfall of liquidations across multiple crypto exchanges offering margin trading and derivatives leads the price of the digital asset to quickly collapse.
At BitMEX alone, $1.6 billion in leveraged long positions were liquidated and hundreds of millions of dollars were wiped from Bitcoin’s market cap.
Many investors, along with a hedge fund were virtually wiped out in the course of a day.
The narrative that the crash was the result of the correlation between Bitcoin and equities markets, along with liquidations on leveraged positions on crypto derivatives exchanges seems to have been accepted by the majority of investors, but there is growing concern that Bitcoin’s drop to $3,750 may have also negatively impacted miners.
Investors are curious as to whether the current prices are below miner’s profitability margins and if the upcoming halving event will incentivize or discourage miners as Bitcoin prices are already far below the projected price estimates for April 2020.
read the full topic at
https://cointelegraph.com/news/bitcoin-price-will-go-up-as-only-profitable-miners-remain-data-analyst
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Crypto markets were not shielded from the mayhem that led the S&P 500 and Dow to post some of the biggest losses since the 2008 global financial crisis and investors will recall that on March 13 Bitcoin (BTC) price dropped more than 50% in the span of 24-hours.
To date, the volatility and fear within financial markets remain and the future forecast for equities markets is still gloomy but some investors are at least beginning to feel that the absolute worst has passed.
As is customary in the crypto sector, when a catastrophic event occurs, analysts, traders, soothsayers, and crypto Twitter personalities peer through the dust and rubble in an attempt to piece together a clearer picture of ‘what happened’
.Bitcoin investors will recall that a cascading waterfall of liquidations across multiple crypto exchanges offering margin trading and derivatives leads the price of the digital asset to quickly collapse.
At BitMEX alone, $1.6 billion in leveraged long positions were liquidated and hundreds of millions of dollars were wiped from Bitcoin’s market cap.
Many investors, along with a hedge fund were virtually wiped out in the course of a day.
The narrative that the crash was the result of the correlation between Bitcoin and equities markets, along with liquidations on leveraged positions on crypto derivatives exchanges seems to have been accepted by the majority of investors, but there is growing concern that Bitcoin’s drop to $3,750 may have also negatively impacted miners.
Investors are curious as to whether the current prices are below miner’s profitability margins and if the upcoming halving event will incentivize or discourage miners as Bitcoin prices are already far below the projected price estimates for April 2020.
read the full topic at
https://cointelegraph.com/news/bitcoin-price-will-go-up-as-only-profitable-miners-remain-data-analyst
Follow me on
Twitter: https://twitter.com/cryptoexpert20
If you wont me to post your cryptocurrency article on my blog From the link
https://www.fiverr.com/cryptoexpert20/post-your-cryptocurrency-article-on-my-blog
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