Currently, Bitcoin facing a bullish trend and pushing towards a huge decline, the biggest problem with Bitcoin is that it has no commodity or value anchoring method, completely depends on the speculation, it is designed in such a way that it reduces the over-issuance limit of the currency, now it deviates from its creation goals and become truly speculative currency, Bitcoin has faced strong resistance and continuous restriction by authorities because they want to protect their citizens, in the crypto market there are investors who are hoping for Bitcoin to come back, they have a great understanding of trend curve of Bitcoin over a long period of time, Bitcoin has many upwards and downwards in last decade, at each retracement, Bitcoin enjoys a strong wave of upward movement, therefore, investors realizes that overall Bitcoin is a great investment product with high return rate.

Investors and bigwigs concerned over the upcoming global debt crisis, have doubts over the fiat currency system, clearly understand that from a technical perspective of international financial market conditions which are disappointing everyone in the longer run, in order to lead the financial markets and want to become the global currency the Bitcoin must obey the regulatory policies and cannot take the risks of control and regulation, big capital already exists in the crypto market, investors with strong capital have the tolerance to take the risk, they have certain that as long as they stand on the market and handle the big ups and downs they will be definitely benefited with good returns, but Bitcoin must comply with regulatory rules and policy risk.

Any country will declare Bitcoin as legal tender but they never use it as a daily transaction currency, crown epidemic in 2020 and 2021plauge every nation and their economy, everyone forced to stay home, they watch the world from their digital devices, the world best currency has increasingly unstable, in order to become the everyone charming currency, the Bitcoin must prove to be a good transactional currency, satisfy everyone daily needs however investors regard as a stored-value tool or a value-preservation tool.

Some investors believe that Bitcoin is destined to replace the reserve currency or settlement currency, therefore increasingly invested in, but this claim needs to be tested by government regulation and control efforts basically it is the mass consensus process that takes a very long time to prove right or wrong. The government and its subsequent agencies have the eagerness to control the encrypted assets.

Despite the fact that Bitcoin show sluggish signs but the infrastructure of the cryptocurrency-related market was continuously stronger and mature, this was lead to the entries of institutional support in the last year, this impact doubled when major hedge fund managers, pension funds, and banks one after another jump into the Bitcoin ocean, there are many investment advisors who expose their clients the true power of cryptocurrencies in a compatible manner with their current workflow and wait for the custodian bank to introduce cryptographic services.

Currently, Bitcoin has plunged from its all-time high which was $64,000 in mid-April, after the fall of Bitcoin other cryptocurrencies take the same path Ethereum fell about 10%, and Dogecoin fell 12%, and the market experiencing sharp corrections.

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Source: https://medium.com/cryptocurrencies-ups-and-down/the-status-of-bitcoin-in-bear-market-c658e4184bd2?source=rss——-8—————–cryptocurrency