Bitcoin’s Price still has a Chance of Rebounding Despite the Critical Crash

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Bitcoin was doing extremely good when it took a heavy hit this Sunday, and its price came crashing down all the way to $51k and then reclined at $54k after some time. It had just achieved an all-time high of $63k approximately; the crypto market was pouring in with the investors all ready to accumulate more and more of it, and then suddenly, the China coal mining incident took place, dropping the hash rate of Bitcoin pretty dramatically when they had to close down the mining operation over there until the root cause of the problems could be found and the factors that caused it could be contained.

There is a theory out there that people who knew about the incident way before it was made public, thus registering themselves as insiders, took the opportunity and profited hugely by initiating a chain reaction of automatic sell-off on the crypto market; this very phenomenon did nothing to increase the price of Bitcoin but played a significant role in lowering its value and destabilizing the crypto market way before the coal mine incident took in and the real hit to the Bitcoin’s price and performance initiated. But even after all of that has transpired, it is believed by the financial experts of the crypto market that the worst is behind us.

Bitcoin might just Retain its Earlier State Sooner than Later

The spent out profit ratio for Bitcoin or SOPR has recalibrated itself, and it shows that there is only a little Bitcoin left that can be sold, and it is highly unlikely that investors will pitch in to sell their crypto when the conditions are all set to rebound and take a heavy hit. That represents an interesting theory that investors at the moment will be looking forward to buying more and more Bitcoin due to the very fact that it has taken a hit, the price is lower, and the rebounding is in effect, which means that it will recover its prime price again, so the only reasonable move the investors can play at the moment is to buy more Bitcoin. Now it is not going to bring the original value to Bitcoin or even speed the process, but it is definitely going to roll the ball, and eventually, the price of Bitcoin will turn up considering the hash rate problem could be solved in time.


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