Bitcoin hit a record high 20,000$ earlier this month amid many criticism from banking pundits calling it as a bubble about to burst soon. But a steep fall with a drop of nearly 35 percent within few hours this month has raised alarms and fears among millions of investors making them believe all the bubble theory.

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This investment bubble can be related to rapid rise in the market irrationally and this has also happened in the late 1990 after coming of dotcom or internet services which finally resulted in a burst when major companies began to sell off their shares at peak of the bubble which led to panic among all investors and resulted in rapid selling and eventually all the dotcom market crashed. The same can be related to this bitcoin bubble , it fulfill all the conditions for an standard investment bubble so it can be just to relate it as bubble.

The recent bitcoin crash is not a burst but the recent South korean government's  new regulation against crptocurrency trading exchanges has raised a fear among the citizens and it led to rapid sell off of crypto currencies within few hours of announcement for half of the price. North korea , kin jong-un regime is also responsible for this to an extent. North Korea has hacked south korean trading exchanges two times in the past which sparked a fear among south korean government to put new laws and regulation for cryptocurrencies.

South Korea was believed to hold about quarter of total bitcoins in the market so rapid sell off is the main valid reason for the recent crash.This has also occurred in the past when china proposed a ban on the crypto trading in the country but the market was immune-d  within a month. So this can be legitimate to say that bitcoin and altcoins market will gain more value in the coming days.


                       KEEP CALM AND BUY MORE BITCOIN 
Bolbhai

Bolbhai

I have been a developer for last five years working experience in different technology, apart from this I loved traveling, blogging and exploring the crypto world.

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