why is bitcoin falling?

 

We have all noticed a frenzy in the price of the digital currency Bitcoin recently, as it is no secret to anyone that the reason for the rise is due to Elon Musk's tweets in the past period.

The strange thing about this is that the price of Bitcoin has suddenly decreased after reaching a very high ceiling exceeding the $ 60,000 mark. Market and stock market analysts refer this matter to several factors.

John Todaro, director of corporate research at Trade Block, said of the profits that are characteristic of fixed assets today after the recent decline.

He said, "The returns have risen to the highest level they may have reached in one year, and as a result, the technology market shares were sold heavily, which led to the decline in the bitcoin price.

When there is doubt in the market and the stock exchange, Bitcoin digital currency still contains elements of a risky asset, and we find that it increases and decreases in an insane way. "

why is bitcoin falling

In contrast, Tim Anneking, General Manager of Digital Capital Management, said: “Bitcoin has achieved a remarkable rise on Monday morning in the United States of America, due to the drop to 43,000 dollars over the weekend, and I think the decline will continue because the market is already retreating from its highest level. "

Bitcoin price hike curve

While Tim Anneking spoke about the short-term losses that Bitcoin cryptocurrency shares could suffer in the market, other market observers confirmed that there is an expected rise in the bitcoin price.

The reason for this expected increase is that many international companies have begun to openly invest in the digital currency Bitcoin and consider it reserve gold, but the difference between Bitcoin and gold is that Bitcoin is digital gold.

Positive outlook on Bitcoin

Sergey Nazarov, founder of ChainLink Labs, assured that while everyone views this digital currency as a currency fraught with daily risks, this currency has proven that it has a noticeable rise pattern in general in the long term, which sends reassurance to all investors. How true these expectations are