Why Does BTC Price Keep Dropping?

[Suba]

As of today the Bitcoin price has fallen by more than 70% from ATH Nov 2021, currently Bitcoin price is $$20.120. even though it had reached $24,442 on Aug 13, 2022 but dropped back to this date.
At the FOMC meeting, the Fed intends to raise interest rates by around 51-70 basis points which will impact DXY to continue to rise.

You need to know BTC and Altcoins will be inversely proportional to USD interest rates, so low USD interest rates are a condition for Bitcoin et al to continue the long bull run and vice versa.
Analysts out there predict that DXY will continue to strengthen until the end of 2023. Because on the other hand it will benefit the US government to reduce import costs and reduce the inflation rate to 2% according to the US central bank's plan.

Although there are many factors that can affect the price of cryptocurrencies, such as government regulations in many countries that apply high taxes, reducing the adoption of (buy) crypto.

As a Bitcoin and Altcoin holder, I personally feel pity, seeing this situation which may last a long time (until 2025). so maybe this thread is just a vent from my heart, how about you?

 

[niche]

In some countries the government agencies are taking action against the crypto traders and exchanges, their bank accounts are getting frozen due to allegations of money laundering according to media reports. So those who have invested money in crypto find that they cannot withdraw their money and they also cannot invest more money in crypto. So the prices of crypto currencies are falling rapidly. High taxes have also been imposed on crypto investment. Till the government policy on cryptocurrencies in different countries changes, bitcoin prices are not likely to increase

 

[Dora Wi]

This bear market is certainly difficult to endure. The general state of the world's economy also has an effect on Bitcoin and other cryptos, as many are more likely to turn to safer, less volatile assets.

 

[saoussen5765]

It is all relative to the war of Ukraine and economy is going down day after day as simple example.

 

[kriptopoulin]

Before running into some difficulties this month, the original cryptocurrency was selling at around $25,000 on August 14. This was a significant increase from its pricing in June, when Bitcoin hit its bottom.

Whoever needs a reminder: On June 18, Bitcoin reached a 52-week low of $17,708. The decline came as a result of reports that some cryptocurrency companies were experiencing a shortage of liquidity.

 

[Lymphography]

BTC price is solely based on demand and supply force. Currently in the market there is a huge sell off and buy going on by big market whales and firms who are selling and buying bitcoin in large amounts. As a result, there is constant fluctuation. As the supply increases more than the demand, the price keeps dropping.

 

[kriptopoulin]

Yes, of course, 100% agreed with you buddy. Thanks for your suggestion.

BTC price is solely based on demand and supply force. Currently in the market there is a huge sell off and buy going on by big market whales and firms who are selling and buying bitcoin in large amounts. As a result, there is constant fluctuation. As the supply increases more than the demand, the price keeps dropping.

 

[Protension]

The price is bound to drop due to constant changes happening in the market. The situation hasn’t settled yet, keeping that in mind, anything can happen and that increases risk. The supply and demand could fluctuate more rapidly, you have to be prepared to face anything. Watch the news and stay updated.

 

[arash23]

Hi I find this useful for me
hope it would be use ful for you too:
Bitcoin Halving Dates Change: When Is The Next BTC Halving?
at cryptologi .st site

 

[kriptopoulin]

It is undoubtedly challenging to survive this bad market. Bitcoin and other cryptocurrencies are impacted by the state of the global economy in general because people are more willing to invest in safer, less volatile assets.