Once again the crypto world is in crisis, after the price of Bitcoin collapsed after a series of negative news, losing a good part of its value in a matter of days and leading to many new investors in the crypto market deciding to abandon their positions in BTC and other cryptocurrencies. However, as Changpeng Zhao says in the Tweet of the day, this is neither the first nor the last correction for Bitcoin:
A new Bitcoin correction
They have been difficult days for the crypto market. And it is that, after China confirmed its regulations against cryptocurrencies, and Tesla decided to stop selling its vehicles in exchange for Bitcoin, arguing environmental fears, the price of Bitcoin collapsed. Losing more than half of its value in a matter of days. Dragging the main cryptocurrencies in the market with it in its fall.
Of course, while for the most veteran investors in the crypto world, this did not mean anything extraordinary. For the new members of the crypto community, who entered during the great Bitcoin bull rally for quick profits, the collapse in the price of Bitcoin is the closest they have known to a true crypto apocalypse.
However, as Changpeng Zhao reminds us through his Twitter account, this is neither the first nor the last correction for Bitcoin. On the contrary, historically Bitcoin has suffered a series of large drops in its price. Which time and again have triggered news and analysis that predict the end of the crypto world. Only to bounce back weeks or months later and get back on the bullish track:
«It is not the first time and it will not be the last time, Bitcoin».
Therefore, if the market follows the trend that it has shown so far. Most likely, from Changpeng Zhao’s point of view, the price of BTC will rise again, propelling the entire crypto market again. A prediction that could be starting to come true now that Bitcoin is slowly beginning to regain lost ground.