In early February, Bitcoin started out around $34,000 USD. 1 week later, on February 8th, BTC had rose over $12,000 to around $46,000, a new all time high. 2 Weeks later Bitcoin hit another an all time high of $58,000, before plunging down hard to $46,000 in just 2 days.
Bitcoin recently crashed because of a BTC mining pool located in China called F2Pool selling 3633 bitcoins. They put all the coins on the exchange quick. Leading to the general public seeing a crash and selling out before making a perceived loss. This cycle results in a further crash.
Is it too late to buy? No. Considering Bitcoin is the largest cryptocurrency’s on the market. As more and more people are introduced to cryptocurrencies over this crypto boom we are currently going through, BTC will continue to rise. It is probably the safest coin you could invest in. Second being Ethereum. Another booming crypto.
Right now is a good time to buy right after the crash. Invest and hold some bitcoin for the future and if you want to trade, trade it on the side.
