This year has not been kind from the very beginning for bitcoin (Bitcoin). It fell in price from $13,900 to $12,900. Even then, experts said that 2018 will be more active for cryptocurrencies than 2017, when the bitcoin soared to $20,000. Some crypto enthusiasts claimed that the coin could well reach $50,000 a year.
These optimistic forecasts have not come true yet. Since the beginning of the year, the bitcoin rate has fallen almost as rapidly as it grew in the autumn of last year. Last week was especially painful for the first cryptocurrency. The bitcoin rate at some point fell below $6,000. Now the situation has stabilized, but the first cryptocurrency is still traded at around $6,300. The main altcoins are also in critical state.
The past week has become one of the most large-scale losses for the popular cryptocurrency and has led to a significant outflow of capital from the market. This bred panic. Although many experts believe that the market overreacted due to the fact that the Securities and Exchange Commission (SEC) postponed the decision on the approval of bitcoin-ETF.
But all the same, not all investors were ready for this situation. Many Internet users are afraid for their mental health. For example, phones for potential suicides have been published in a popular forum Reddit. Users also posted links to the U.S. Suicide Hotline and the National Alliance on Mental Illness.
One of the reports reads: “If you feel you might be suicidal, and live in the United States, I urge you to call the Suicide Hotline at 800-273-8255 or navigate to for a live chat and additional resources.”
However, it is likely that soon the situation on the crypto market will stabilize. Representatives of the of Chicago Board Options Exchange (CBOE) are 99% sure that bitcoin-ETF will be approved. Chris Concannon, the president and CEO of exchange, is also confident that the SEC will make a positive decision about launching a new financial instrument.