BURST price is still chained to other cryptos and since they are just plummeting, it does the same, thats why I wanted to share some excerpts from a recent german article:
"why are investors selling right now?
- Hacker attacks unsettle investors
- Concerns about regulation
- Bitcoin pioneers get out
many Bitcoin pioneers/Investors have withdrawn from the market and thus withdrawn billions.
all cryptocurrencies have a combined value of around $ 300 billion - at the height of the cryptocurrency mania in December, the volume was still at $ 800 billion.
long-term crypto investors who have invested in cryptocurrency many years ago and have earned millions are no longer actively trading their coins. Instead, speculators in the market, who are looking for rapid price increases, are now romping on the market.
Last November, just before the Bitcoin peak, the number of active long-term investors that barely traded was three times higher than it is now. Now the trading volume, which is due to short-term-oriented speculators, is almost as high as the trading volume of long-term investors.
This transfer of assets is also the current price collapse to explain: The early entrants take with them billions in profits. Investors who have boarded too late are sitting on losses instead."
what does this mean for the near future of our burstcoin ? since i am not a financial expert, i dont know…