Why all the crypto-currencies are crashing right now?
Let's analyze what has just happened during the last 12 hours:
-Verge has been hacked and report shows that they may have lost up to 1.7 Million US Dollars.
-Paypal rejects Crypto-currencies as a medium of exchange.
-Alibaba also rejects crypto-currencies as a medium of exchange.
-United States and Canada adding more regulations to Cryptos
That's lot in one day!
What next, what is going to happen now?
As usual, a drop in currency value for a little bit of time while investors recover from the bad news.
Big sharks will buy off the panic sellers until it reaches the bottom and good news will show up again.
I have to admit, it is a tough year for Bitcoin, really tough!
Is Bitcoin going to disappear for good?
No way! I am 99% sure it won't but what I can see is a market moving toward alt coins where profit margins are much higher.
2018 is considered 'The Year of the Alt Coins'. While the Bitcoin is crashing, many small coins are still in the green which is amazing.
The above references an opinion and is for information purposes only. It is not intended to be investment advice.