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What could be the cause of the fall in the price of Bitcoin?
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[QUOTE="Hassanbenjamin, post: 253809, member: 60193"] Many investors see Bitcoin’s price swings as part of the game, but “volatility is tough for individual investors to deal with,” Noble says. Like Yang, he warns against selling too fast. Recent price fluctuation has followed surging inflation, ongoing uncertainty over the country’s lingering fight with COVID-19 and new regulatory actions by the U.S. government, including Biden’s recent executive order. In an industry as new and unproven as cryptocurrency, it doesn’t take much to drive big swings in price. More generally, new short-term investors who are selling their holdings in reaction to the latest drop may be contributing to the drop in Bitcoin’s value, according to a report from Glassnode Insights, a blockchain analysis firm. While fluctuations are expected, Noble says he’s been surprised by some of the recent big drops. “I thought the market was maturing and these things would be less frequent and severe. Boy was I wrong,” he says. Some of the drops have been caused by a combination of factors, Noble theorizes, from excitement about low-quality coins, to negative remarks from Elon Musk, to China’s recent crackdown on crypto services. This mix of factors has potential to make sell-offs “all the more violent,” says Noble. He likens the drop to the stock market crash of 1987, from which the markets took months to recover. But because crypto moves a lot faster today than equities did in the 1980s, Noble says we may see a quicker recovery. “Don’t panic and puke,” Noble says. “If you keep your positions small, you can try to tolerate the volatility.” In your own opinion, what do you think might be the cause of crash in price of BTC? [/QUOTE]
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What could be the cause of the fall in the price of Bitcoin?
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