Bitcoin is Tanking But So are Stocks, Fiats & Indexes, It’s Just a Normal Cycle

By Sagar Saxena
Published September 6, 2018 Updated September 6, 2018
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Bitcoin is Tanking But So are Stocks, Fiats & Indexes, It’s Just a Normal Cycle

By Sagar Saxena
Published September 6, 2018 Updated September 6, 2018

Bitcoin is crashing but so are the stock markets, Emerging Market Index, oil, and national currencies like Indian Rupee and Indonesian Rupiah among Lira, Peso, and Bolivar. According to an expert, it is a normal cycle and it’ll take time for the crypto market to show it’s full potential.

Bitcoin is crashing, So what?

Bitcoin has been tripping and falling constantly as it drops down from yesterday’s high of $7,383 to today’s lowest of $6,300. The entire crypto market is crashing hard, falling in the range of 6 to 16 percentage.

US Dollar keeps on strengthening against other currencies but most prominently against the cryptos. If we take a look at mainstream markets, there are lots of downsides there as well.

As shared yesterday by CNBC Futures Now,

The S&P 500 Index, is a market-capitalization-weighted index of the largest 500 US publicly traded companies as per market value that is also one of the most common benchmarks for the US equity markets. It has gone down in the last 5 days as shown in the chart below:


As for crude oil, it also lost its energy only to find a little stability today:

crude oil

The MSCI Emerging Market Index has dropped for the seventh day, further extending its decline. A bear market is residing here as well which is now trading on its lowest price-to-earnings ratio since 2016.

Also, read: Bitcoin Plunges to $6,400 while Altcoins Crash, Experts say Red isn’t Over Yet!

Everything is plummeting: India & Indonesia joins falling currency nations

Shifting the focus to national currencies, Turkey’s Lira, Argentina’s Peso, and Venezuela’s Bolivar have been already down for a long time now. However, new names have been added to this list.

Today, Indian Rupee breached 72 level for the first time, continuing its losing streak against US Dollar for the seventh consecutive session. However, Arun Jaitley, the finance minister emphasized: “It has not weakened…the rupee is better-off,” against currencies like euro and British pound.


Indonesia’s Rupiah is also not doing well as it drops down to about 15,000 rupiah against USD. Apparently, external factors like trade tensions and global economic downturn are fueling the drop in the value of other nations’ currencies.  


Just a normal cycle

As quoted by Forbes, Vikram Joshi of pulsd stated:

“Inflation and deflation of a bubble do not mean that an industry is not worthy. People get super excited only because they see huge potential in a product or service. In this inflation-deflation cycle, we shouldn’t be surprised to see some dead potatoes. Cryptocurrency and blockchain have immense potential and we shall see it in coming years. It just takes time, as all the good things in life do.”

Additionally, as the crypto expert, WhalePanda shared,

Though it is in no way an investment advice, while the market is down, it’ll go up as well as is the way of the things, so make sure you are buying the dip!


The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Sagar Saxena
216 Articles
Passionate about Blockchain and has been researching and writing about the Blockchain technology for over a year now. Also holds expertise in digital marketing. follow me on twitter at @sagar2803 or reach out to him at sagar[at]

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