The crypto market is on a downward spiral

The crypto market has seen better days. The past few months have been tough on all cryptocurrencies, but in the last week, we have seen things take a nosedive to the point where Bitcoin hit a three-month low this morning. Things are so bad that Ethereum and Litecoin are down over 50% from their highs earlier this year, and people are starting to worry that this might just be another dip on the way to an even lower bottom.

To BTC or Not to BTC

The Cryptocurrency market has taken a massive hit over the past few days, with all of its largest tokens experiencing heavy losses. On Monday, Feb. 5, two of these tokens — Tether (USDT) and Bitcoin (BTC) — made their way into headlines as they both lost over $12 billion in 24 hours’ time. While it seems that many people are still bullish about BTC and other cryptocurrencies like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Stellar Lumens (XLM), EOS, Cardano (ADA), Tronix(TRX) and Binance Coin(BNB); some experts believe that we are seeing a downward spiral for all major cryptocurrencies.

What are Bitcoin Whales?

Bitcoin Whales are investors who hold large amounts of Bitcoin. As Bitcoin rises and falls in value, these crypto whales make or lose enormous amounts of money. What makes them interesting to us is that they have lots of power over how other investors feel about Bitcoin. By selling (or buying) into a certain narrative, they can drive massive waves through crypto markets that can be felt everywhere from small exchanges to larger investment firms, with everyone getting caught up in what has become known as Whale Mentality. This mentality is often defined by an irrational fear of missing out (FOMO), which leads to speculation and risky trading behavior. And it’s not just individuals; even major banks like JP Morgan Chase have been accused of manipulating crypto prices. So when you hear that Bitcoin has crashed again or altcoins are falling off a cliff, remember: it might not be true—and if it is, it might not matter.

Why are the bitcoin whales dumping their coins?

Some say that it’s because of FUD. They’re concerned about China cracking down. Others are concerned about upcoming hard forks, and how that will affect crypto prices. Some say it’s just a normal correction, that we all knew would come sooner or later. What do you think? Have your opinions swayed since yesterday? Where do you see crypto prices going from here? Let us know in the comments below!

Will Tether (USDT) make things any better?

The week has been tough for crypto market participants, but Tether (USDT) bulls continue to believe that USDT’s more stable value will inject some much-needed stability into an otherwise volatile environment. But will it? Does anyone actually know where cryptocurrency prices are headed next? No one does. And whether or not USDT users believe in USDT may not matter—in fact, it likely won’t make any difference at all. If you’re looking for reasons why BTC and other cryptocurrencies have fallen so hard over recent weeks, look no further than these three charts:

How long will it take for the Crypto market to recover?

The crypto market is currently in a slump, with Bitcoin dropping below $7,000. It has lost more than half of its value since hitting an all-time high in December 2017. Even so, experts believe that it won’t take long for Bitcoin to bounce back and surpass previous records. Speaking to CNBC Make It, John McAfee predicted that by November it [Bitcoin] will be at $1 million US dollars.

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