Knowing and predicting the future of any coin is not much possible every time. Market risk always stays. Whether visible or not, but it’s always there. Well, the last few months have been really tough for all cryptocurrencies. The whole market has seen the low tide this week. Bitcoin, which is one of the most trusted names, is also affected. Bitcoin has been on the low tide for quite a long time now. Now the question arises – Why is Bitcoin Dropping day by day. What’s the reason For the fall? People want to know how much time is it going to take more. Is this towards the ending of Bitcoin? There are lots of things which need to be discussed in detail.
Know everything that you need to know about Bitcoin here. From Future predictions to the Reasons for its fall.
Let’s get going!!!
Bitcoin: A brief
- Well if you can imagine something like G.O.A.T. Well In the Crypto market, Bitcoin is that one. Yes, Greatest Of All Time. Bitcoin has been the leading name for years now.
- Bitcoin is the longest-running player in the world of cryptocurrency. It’s the oldest, largest, and most profitable investment option.
- There’s a reason behind it holding the massive 40% of the market. It has been the highest trading coin ever.
- So why is Bitcoin dropping now!
Bitcoin Dropping: Facts
These are the market facts, which will clear the loss it’s facing:
- The price dropped to about $30,000 at one point. Knowing that the past average price was above $52, 000. This is a big loss.
- The estimated loss percentage is a minimum of -30.64%.
- Bitcoin dropping 17 percent just by Boycott of Tesla.
- Now let’s move towards the reasons behind it
Reasons Behind It:
- Lack of stabilizing force: Recently the opposite wave towards Cryptocurrencies has hit them hard. No authority or government is coming forward now. Instead, they are now taking support back.
- Elon Musk: One can never deny the fact about the impact of him on the market. He is one of the major reasons for Bitcoin dropping down. The cryptic response to a tweet from Elon Musk has turned the market upside down. The impact of Elon Musk is known to all, and that has affected Bitcoin.
- Losing Trust: Being known that, it’s a kind of virtual money. And it may have no real value to it. This has made the customers lose their trust in Bitcoin.
- The Competition: Every now and then a new Cryptocurrency shows up. That too with much more innovative idea and real existence. This is making the survival game really tough for Bitcoin.
- Opposition Dominance: The opposite wave and the government authorization are dominating. No one wants to see such cryptic currency take over the market.
To know more about, stay connected to The Global Coverage